Related Posts
Conversation Starter
Best area credit unions?
Any good gaming ETF ?
Are we allowed to trade crypto on TD Ameritrade?
More Posts
Need 11 likes to unlock features
Conversation Starter
Conversation Starter
My LM is so keen on small small things, not related to coding but documentation and all. Atleast once in a week I'm committing mistakes on small documentation points n he is stressing on same. Are there any chances that my probation will not be extended or is it a clue for me from my LM. He is Looping his LM and asking questions/clarifications.
Should I ask him directly or can be ignored or need to try outside. Please suggest Barclays
Additional Posts in Personal Investment Chatter
Enthusiast
Conversation Starter
Thoughts on Jumia stock?
Recommendations for a Roth IRA?
Conversation Starter
Are we allowed to trade crypto on TD Ameritrade?
GME and AMC are not doing well today 😂
Conversation Starter
Conversation Starter
New to Fishbowl?
unlock all discussions on Fishbowl.
Chief
“Gucci suits are like Corvettes. They’re a great way of telling people you didn’t always have money.” -@GSElevator
Enthusiast
Goldman Sachs elevator?
Pro
I love the “why would you buy a depreciating asset” comment.
People forget that money is a means to an end, and not the end itself. Money provides us with many things - security, comfort, joy. Those are the things we want, and money allows us to get them.
If you’re making over $200k at a young age and want to use money for one of its intended purposes. I say go for it, particularly if you are also already competently addressing the other things by saving and investing and don’t let the splurge become the norm instead of a somewhat rare treat.
@accenture 3 by doubting people’s salaries you’re just exposing how few of these options you had at that age....
Please test drive a model 3 performance first! Similar in price and wayyy funner to drive.
A3 - so wrong, just so wrong. Try out the cars before you talk. You honestly have no idea what you're talking about (speaking as someone who's household has a 3 and an x).
Its an American car.
Two things. (1) My recommendation would be to spend at most 5-10% of your net worth on a car purchase. What’s your net worth?
(2) For the price of a C8, you’re better off saving a bit more and buying something nicer like a used 911, R8 or a used McLaren 570s, which hold their value better.
https://www.financialsamurai.com/net-worth-rule-for-car-buying-guideline/
@OP - I would personally hold off. I’m a car guy too and want to buy a sports car (exotic), but not until my Net Worth justifies it. Got to keep in mind the opportunity cost of spending so much on a car when that could be invested in the market and double in 10 years.
I’m 26 @ $250K NW and am waiting until I hit $1M to buy a nice car. I’ll be 33 around then so I’ll still be fairly young and I’ll have a nice base of investments that will continue compounding and generating $70K annually (7% annual return on $1M).
it won’t make you cool.
making money and helping others is cool
I bought a $48k two year old ZO6 back in 2009 when I only made 35k a year when I was in the Army. It was my dream car and was financially irresponsible, and it was worth every penny to me. It is still in my garage, and it still looks sweet and gives me joy. I make 5 times that now, and see no need to buy another sports car any time soon. Modded it a bit, and am happy I still own it 12 years later. I’ve put 42k miles on it and it’s actually still worth about 30-35k now. It was an investment for my soul with huge ROI.
FWIW, I bought a Jaguar XJ6 when I was about your age. It was a fun car, and I don't necessarily regret owning it, but boy was it a big money pit.
If I could have a redo, I'd have bought a cheaper car and put 1/2 that money in a retirement fund and forgotten about it, then bought the same/similar car 15 years or so later.
That would give me all the same fun of the car, but I'd have a lot bigger retirement fund, or at least some emergency funds for that time just out of law school where I almost became homeless.
I know this probably isn't going to make much difference for you - some things just have to be learned from experience, and that's ok. As long as the experience of having your nice car up front is worth it to you, you'll do alright.
Good luck!
RS5 or C63? Similar price with better utility and just a bit less performance
Definitely get the C8, definitely don’t listen to any small brain thinking a C8 is an old mans car, and DEFINITELY don’t get a watch over this.
This is a pretty big bragging post
What tf do you do making >200k in your early twenties
Sheesh there’s no placating you. I’ve detailed my path and everything on this thread, gave advice to folks who’ve PMed me, and I’m accused of all sorts of nasty things, short of uppity slur
Y’all just upset by a poor dude’s success 🤷🏾♂️
It’s not how much you make it’s how much you hold on too.
I think it’s much better to buy a sports car in your twenties and get it out of your system, then buying it in your fifties to feel younger. Also, now you prob don’t have a family to feed or kids to get through a college. So just do it, say $uck it and buy a car that makes you happy. I bought myself red Alfa Romeo for my 40s birthday, and I wish I could do it in my twenties. Being gorgeous 40 years old women in Alfa Romeo feels nice, but I bet being young gorgeous woman in Alfa Romeo would’ve been much nicer.
I owned sports cars in my 20s, now I have two kids, a minivan and an Audi sedan. I spend all my time in my 40s shopping for the sportscars of my youth on Hemmings....
Conversation Starter
slower than Model 3
Another option is a used R8
Buy doge, hodl till the moon. Then buy 3 Corvettes
Pro
Here me out. Forget the Corvette. Buy an airplane and learn to fly.
Do it.
I’d just get an old McLaren
Go for it and drive that Vette like there's no tomorrow.
Hear me out. Buy a nicer used car. A LC500, R8, something that is a few years older and around the same price. You will take a much smaller depreciation hit and thus lose less money (and have a nicer vehicle).
These are real numbers:
If you buy a four year old R8 (127k) and own it for 4 years your depreciation hit will be 20k as that car will be worth 106kish.
A brand new c8. (assume 2LT and mild options) will be around 75-80k. After a four year period it'll be worth 40k (based on c7 depreciation curve). Thus costing twice as much for depreciation over that same amount of time.
If you're going to get a c8 put a reservation for a Z01 model at a large Chevy dealership (plenty of car forums will provide which ones won't mark up). Z01 model will have a much friendly depreciation curve.