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Don't dump 40K into a depreciable asset that will suck up all your money. Instead of saddling yourself with ridiculous car payments ($40K in car payments is gonna be on the order of $800/month + what I'm guessing will be on the order of $1000/mo in car insurance), you should invest that $40K, or put a down payment on a house, where you can build up some equity in a (hopefully) appreciating asset. You already have two road rockets anyway. The stock market has had a pretty good year, but there are still some good opportunities out there to invest your money. Pick 2 or 3 good mutual funds that are diversified across a few different asset categories, and leave yourself some emergency cash as well. In 5 years, after your money has appreciated some, and you've prioritized against other needs in your life (maybe a wife, house, kids, etc.) then you can go out and shop for a Ferrari. But if you have it all now, what will you look forward to in your 30's and 40's? OK, of my soapbox now... ;)
My Z at CarDomain (I know, but it's free) |
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