$15k: invest or buy a car?

[yeti]

Originally Posted By: pandus13
Sorry for the late response:

42 years old.

Max Roth IRA money has been already earmarked.
Rainy day fund has been already earmarked.
Vacation fund has been already earmarked.
Car rainy fund has been already earmarked.

So the $15k are investing money.


bearing the above in mind, I would not put money (and never did) into cd/fixed income type investments, as you make almost no money,or lose money, after inflation.you might as well put it in your mattress.
an example of what I, and the group, have done over the last year -- put money into the Canadian pot stocks. the sector is on fire, as legalization approaches, and should stay strong for at least another year, or two.by then, it will be too late.one of our favorites, c.mym has made all of us between about 400% to over 1200%. I got in at 0.30 -- 50,000 shares.check out this sector, before it's too late.DO YOUR DD.
before next summer, another car is likely in the works. the 911, and the 'vette are very nice.
whatever you decide, good luck, and do your dd.

 

[Mr Nice]

Originally Posted By: pandus13
Sorry for the late response:

42 years old.

Max Roth IRA money has been already earmarked.
Rainy day fund has been already earmarked.
Vacation fund has been already earmarked.
Car rainy fund has been already earmarked.

So the $15k are investing money.


Lots of very good options for you to invest in.

 

[PandaBear]

Rainy day fund?
How long is your investment horizon?
Do you have any other debt to pay off?
Have a wife or kids?
Any other things you want to do since childhood that you are finally able to afford?
Do you own your own home?

 

[pandus13]

Originally Posted By: PandaBear
.... responding to PandaBear....

Rainy day fund? - about 1.5 years
How long is your investment horizon? - 20+ years
Do you have any other debt to pay off? - no
Have a wife or kids? - Yup
Any other things you want to do since childhood that you are finally able to afford? - don't laugh: quiet
Do you own your own home? - on the way (27 years), but mortgage+HOA+gas+electric < rent ; good school district

 

[Vikas]

Bitcoin it and then retire next year when it becomes $15 millions.

 

[fdcg27]

Originally Posted By: Vikas
Bitcoin it and then retire next year when it becomes $15 millions.


Or, kiss the 15K goodbye when the Bitcoin buy is worth 15 cents in real money.
There is a place for humor in every thread.
Thanks for having provided it, since I guess that's what you intended.

 

[oilpsi2high]

Do you want to keep the money, potentially make money, or lose the money?

 

[Mr Nice]

Why not keep your IRA investment style for this $15,000 ?

 

[Cujet]

I'll be the voice of reason here.

I'm an older guy, less than 5 years from retirement. I've driven crummy used cars all my life, to what end? I have no idea! Now that I'm older, I don't have the reflexes to drive my S2000 turbo sports car. And I really struggle getting out of it. Unfortunately, it just sits there because I can't enjoy it much.

Keep in mind that life is short for most men. Many of us don't make it far past retirement for all the obvious reasons. Don't look back wishing you had done something when you had the chance. YOLO, you only live once, make sure to understand what you want and make some of those things happen.

Budget for a few of the things you want, in addition to the things you need. Here in the USA, we are incredibly prosperous. In other words, I believe there is enough money and opportunity to make enough of it happen.

A good quote from Robert A. Heinlein: " $100 placed at 7 per cent interest compounded quarterly for 200 years will increase to more than $100,000,000 -- by which time it will be worth nothing." It's his way of saying that investment won't make you money over the long term.

 

[fdcg27]

Yeah, okay, but your commuter is a C177.
Poor old guy!

 

[Vikas]

When you ask for investing advice on BITOG, you better expect the answers given! I am glad that he did not ask for any romantic advice. I take Bitcoin back; take the wife for a nice vacation instead

 

[Mr Nice]

Originally Posted By: Vikas
When you ask for investing advice on BITOG, you better expect the answers given! I am glad that he did not ask for any romantic advice. I take Bitcoin back; take the wife for a nice vacation instead


Some wealthy BITOG members didn't get to where they are by making bad financial decisions.

 

[BlakeB]

Originally Posted By: Cujet


A good quote from Robert A. Heinlein: " $100 placed at 7 per cent interest compounded quarterly for 200 years will increase to more than $100,000,000 -- by which time it will be worth nothing." It's his way of saying that investment won't make you money over the long term.

It'll make you money, that's not the point. Money is nothing, if your whole life goal is to amass a huge mountain of money, you'll never be happy It's a mountain you'll never reach the top of, the peak doesn't exist. If you can't enjoy what you have for fear that it'll keep you from having more later you'll have lived your whole life not enjoying the fruits of your labor. You can't take your money with you, if you die with a hundred million in the bank, what difference does it make? You've gotta live while you're alive. I'm not saying you should be wreckless and moronic with your money, I believe you should try to make good financial decisions... just don't forget what money is for, it's just a tool to help you build the life you want.

 

[pandus13]

update:
-money deployed on monthly (enough to hit the IRS allowed max) to Roth IRA for both me and wifey.
-see some growth already(I know, too soon after just 2 months); still in it for the long term
-changed (roll-over) the Roth provider; The old one didn't do much in 8 years

rest/remaining: well, Wife, play money. She deserve it.

 

[Astro14]

Originally Posted By: pandus13
update:
-money deployed on monthly (enough to hit the IRS allowed max) to Roth IRA for both me and wifey.
-see some growth already(I know, too soon after just 2 months); still in it for the long term
-changed (roll-over) the Roth provider; The old one didn't do much in 8 years

rest/remaining: well, Wife, play money. She deserve it.


Perfect.

 

[marine65]

Go to Vegas.

 

[Leo99]

Tough decisions. I figure I have another 20 years left before going to meet my maker. Do I want to save money so my wife can do more after I'm gone or for my kids to inherit? There should be plenty left for them to have a rainy day nest egg. Should I be a little selfish and spend money on myself. When I'm on my deathbed, will be thankful there is more money in my bank account or that I should have bought that Mustang GT back when I was younger and healthier and could enjoy it.

 

[pandus13]

Originally Posted By: Leo99
... that Mustang GT ...

+ sticky tires + all fluids changed (WE are on BITOG?)

That and some hours of defensive driving (especially winter) should go against "wrap-your-ride-around-a-pole" shtick...

P.S. I heard about a guy who dropped a Cobra engine in a Ford Focus Wagon.... (talk about perfect sleeper)

 

[Mr Nice]

Pay off any debt.... if there is any money left over I'd put money in a large / mega cap growth fund.

 

[jstert]

back in my young kids/earning days i would invest every odd dollar (e.g. refunds, travel reimbursements) in paper savings bonds, which i put away untouchable (as important as return on investment imho) in a safety box. i also always maxed out all retirement options and threw money monthly into a no load annuity (again an untouchable investment) with a military association. sadly savings bonds are an online hassle these days.

if i were o.p. with an extra $15k, besides paying down mortgage, i would fund an after tax, zero load (nmaa, aafmaa, tiaa) annuity. at 42yo life is slow but 60yo approaches inexorably and once retired life moves forward like the indy 500. any money that you put away untouchable now you will thank the gods for after retirement.

my ex rental snowbird yaris with 1.5 engine is bulletproof, tossable fun, with retro crank windows, though i added cruise control. i came to appreciate them after being without a personal car for 3 1/2 years in jakarta where taxis are 90% yarii. any car that does well in hard, fleet use in indonesia is a winner, imho.