Search found 95 matches
- Sat Dec 30, 2023 5:40 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up 2023
- Replies: 8
- Views: 2123
Re: Annual Financial/Portfolio Check Up 2023
One reason not to have both VTI and ITOT in your taxable brokerage is for when it comes time for tax loss harvesting. These two ETFs are good TLH partners. I have sold VTI and bought ITOT and vice versa when harvesting tax losses. So one or the other is useful. I guess if equities were down you'd want to TLH in both brokerage accounts, so at any given time you'd want to have one or the other in both accounts. So in for me to be able to tax-loss harvest, you recommend I sell all $31.2k of my ITOT position (& incur the associated capital gains taxes) and immediately buy VTI with the proceeds, correct? I haven't done tax-loss harvesting before. How often do you do that? In your example , would you tax loss harvest after VTI experiences a ...
- Mon Dec 25, 2023 4:01 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up 2023
- Replies: 8
- Views: 2123
Re: Annual Financial/Portfolio Check Up 2023
One reason not to have both VTI and ITOT in your taxable brokerage is for when it comes time for tax loss harvesting. These two ETFs are good TLH partners. I have sold VTI and bought ITOT and vice versa when harvesting tax losses. So one or the other is useful. I guess if equities were down you'd want to TLH in both brokerage accounts, so at any given time you'd want to have one or the other in both accounts. So in for me to be able to tax-loss harvest, you recommend I sell all $31.2k of my ITOT position (& incur the associated capital gains taxes) and immediately buy VTI with the proceeds, correct? I haven't done tax-loss harvesting before. How often do you do that? In your example , would you tax loss harvest after VTI experiences a ...
- Sun Dec 24, 2023 3:54 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up 2023
- Replies: 8
- Views: 2123
Re: Annual Financial/Portfolio Check Up 2023
* Brokerage: why both funds? Would simply stick with VTI...not sure the rationale the have S&P 500 as well. Do not underestimate the value of simplicity in your portfolio. Both funds as in ITOT and VTI? or Why is there two separate brokerage accounts? If the former, I think I bought ITOT a long while back and just haven't sold any of it yet. Can't remember the reason why I bought ITOT alongside VTI which I already had. If the latter, I just like being able to track separately the amount I have saved for a future house downpayment. * Prior Employer: Are you keeping your assets in their setup? Unless it has some special benefits, I would be more inclined to either transfer it to my current employer plan (if it's great and eligible) or ro...
- Sat Dec 23, 2023 11:54 am
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up 2023
- Replies: 8
- Views: 2123
Annual Financial/Portfolio Check Up 2023
Merry greetings my fellow Bogleheads! :sharebeer I'm excited to dive into my annual check-in/update with you guys having just turned 30. 2023 really feels like it really flew by for me.. I'm not sure if it's just because I'm getting older and time feels ever so more fleeting with each passing year. Nevertheless, I'm looking forward to see what this next decade of my thirties holds in store for me. Thanks everyone in advance for your responses and wishing you and your families all a safe and warm Christmas and New Years holiday. With that said, here's my current financial snapshot: Tax Filing Status: Single Tax Rate: 24% Federal, 5.75% State Age: 30 Net worth: ~$522k - Cash: $26.6k ($7k of this will be used to front-load a Backdoor Roth for ...
- Thu Dec 29, 2022 5:55 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up
- Replies: 7
- Views: 1397
Re: Annual Financial/Portfolio Check Up
His 401k - $167.6k / (61%) / VANGUARD INSTL 500 INDEX TRUST (VFFSX) / 0.01% ER - This is my 401k with my prior employer - $8.5k / (3%) / Fidelity 500 Index Fund (FXAIX) / 0.015% ER - This is my 401k with my current employer Can you roll your old 401k into your current 401k? The current plan has decent options and transferring would simplify things. Will check. If I cannot for some reason roll my old one into my current 401k, would the next best thing to do is open up a traditional IRA with my Fidelity account and roll the funds into there? At your income level, I wouldn't be adding a Traditional IRA to the mix if you cannot combine your old 401k plan into the current one. By adding a T-IRA, you'd be making yourself subject to the pro-rata ...
- Thu Dec 29, 2022 5:19 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up
- Replies: 7
- Views: 1397
Re: Annual Financial/Portfolio Check Up
His 401k - $167.6k / (61%) / VANGUARD INSTL 500 INDEX TRUST (VFFSX) / 0.01% ER - This is my 401k with my prior employer - $8.5k / (3%) / Fidelity 500 Index Fund (FXAIX) / 0.015% ER - This is my 401k with my current employer Can you roll your old 401k into your current 401k? The current plan has decent options and transferring would simplify things. Will check. If I cannot for some reason roll my old one into my current 401k, would the next best thing to do is open up a traditional IRA with my Fidelity account and roll the funds into there? His Roth IRA at Fidelity - $37.4k / (14%) / VANGUARD IDX FUND (VTI) / 0.03% ER - $11.5k / (4%) / VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND (VXUS) / 0.07% ER Holding VTI in both taxable and the Roth I...
- Sat Dec 24, 2022 2:41 pm
- Forum: Personal Investments
- Topic: Annual Financial/Portfolio Check Up
- Replies: 7
- Views: 1397
Annual Financial/Portfolio Check Up
Hi everyone :) It's been awhile since I did an annual check-in with you guys and I'm excited to both review my current financial position and learn what else I can improve upon from my fellow Bogleheads. As always, thanks all in advance for your advice/wisdom and wishing you all a safe and warm holiday & Christmas. With that said, here's my current financial snapshot: Tax Filing Status : Single Tax Rate : 24% Federal, 5.75% State Age : 29 Net worth : $360k - Cash: $50k ($30k currently earmarked as Emergency Fund) - Investments: $275k (breakdown below) - Other Assets: $35k (car) - Debt: None Annual income (pre-tax) : $160k + up to 20% bonus (changed jobs in Q3 of this year; previously was making ~$100k + avg. bonus of 15%) Targeted annua...
- Wed Sep 08, 2021 10:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Yes! But what is a Desi parent?wrongfunds wrote: ↑Wed Sep 08, 2021 9:30 pm Before this one gets locked some people missed the little bit of nugget where OP revealed that parents actually bought that car for him while he was in school!
Nice to have Desi parents
- Wed Sep 08, 2021 7:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
My father is retiring next year. He's wanted a red S2000 for like a decade now but wouldn't treat himself. He's driven used Mazda or Toyota sedans for the longest time. I was just able to convince him to pull the trigger on one ~2 years ago. A 2008 AP2 with <40k miles. Looks brand new. Spending more than you need to on a luxury SUV to impress the neighbors is one thing, but spending it on something that brings you joy to drive is entirely different. Others have also correctly mentioned as long as you aren't dailying it and keep it in good condition you probably won't lose too much money on it when it comes time to sell. My vice was modifying hot hatchbacks. Don't want to think of the money I spent on that in my 20's but 600HP VW Golfs sure...
- Wed Sep 08, 2021 5:52 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
My father is retiring next year. He's wanted a red S2000 for like a decade now but wouldn't treat himself. He's driven used Mazda or Toyota sedans for the longest time. I was just able to convince him to pull the trigger on one ~2 years ago. A 2008 AP2 with <40k miles. Looks brand new. Spending more than you need to on a luxury SUV to impress the neighbors is one thing, but spending it on something that brings you joy to drive is entirely different. Others have also correctly mentioned as long as you aren't dailying it and keep it in good condition you probably won't lose too much money on it when it comes time to sell. My vice was modifying hot hatchbacks. Don't want to think of the money I spent on that in my 20's but 600HP VW Golfs sure...
- Wed Sep 08, 2021 5:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
That'd be the goal. But I may need to daily it for a bit before I secure a cheap daily :/mooreatx wrote: ↑Wed Sep 08, 2021 2:32 pm I went through the same process a year ago, except for a 92 NSX at $60k. I say go for it, it may not only hold it's value but may increase as well. Highly recommend it not be your daily driver though, even if that means you have to buy a $5k beater for commuter use. I run around in a 2010 Prius most days of the week. Unfortunately, there seem to be quite a few folks here not aware of the JDM sports car market.
- Tue Sep 07, 2021 9:37 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
What kind of car? If you're a car guy and enjoy sports cars, then by all means go for it. If a sports car is more of a status symbol and you don't utilize the performance, then you should probably save the money. You're in terrific financial shape! If it's something that will bring a smile to your face every time you see it, make the purchase. Honda S2000. I definitely don't view cars (sport or not) as status symbols and it would most definitely be purely for myself and my own pleasure.. Thanks for the encouragement! I often feel like I shouldn't make decisions that will materially impede the progress I've made and that makes decisions like these difficult for me. You can afford to buy a 40K car. You should go for it while you are young! B...
- Sun Sep 05, 2021 1:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
I didn't even know that is a thing (if there is indeed a Hall of Fame on this forum)
- Sun Sep 05, 2021 1:22 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
I couldn't imagine buying a nice car like this and not keeping it in a garage at home. When I was the OP's age, I was single, no kids, a homeowner with a garage, and had an equivalent "fun car" in addition to a basic daily driver sedan. I sold it after maybe five years and only lost maybe $7k in depreciation and maintenance costs, it was well worth it to me as I drove it a few times per week, and cleaning/detailing it was sort of relaxing to me. Some people act like the entire 40k goes down the drain when you buy a car like this, but you will get the majority back when you sell as long as you take care of it and don't pile on a daily-driver level of mileage. I'm the same way (in that I find both cleaning/detailing and driving fun...
- Sun Sep 05, 2021 1:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
What were you thinking of buying for 40k as a "dream car"? 1965 Mustang Fastback Pontiac GTO Hemi Roadrunner Porche Turbo (used) 1964 street gasser 2 door Chevy Nova with a 427 Big Block and slicks and open headers? I think people underestimate the extent to which the definition of "dream car" evolves with generations. Overall, other than the latest/greatest version of "dream cars", people seem to have an affinity for cars produced when they were young. So the '65 Mustang etc. generation is dying off and being replaced by another generation. There did seem to be a couple of decades of ... less appreciated ... vehicles, so there might be a little variation on that theme for a while, but maybe the trend will pic...
- Sun Sep 05, 2021 1:12 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
I bought my own shiny convertible in my 20's with no where near your savings, so I'd never tell someone else not to get the convertible experience. It is one of those things you do either when your young and carefree or during a mid life crisis. I wouldn't do it again, but I also don't regret the experience (and I wasn't smart with my money in my 20s, so I would have just blown it on something else anyway). Other people have covered the issues with storing it at a apartment with no garage, so I won't go there (covered or not, you are going to get dings). The one question I have is how will paying rent in your own place impact your savings rate? Rent and utilities can be pretty expensive, and if you haven't been paying your parents market r...
- Sun Sep 05, 2021 1:07 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Before I comment, I want to let you know that you’re doing great savings wise. Keep up the good work. Let’s see. It’s a large capital investment. It depreciates 10% per year. You’re limited on how fast you can go because of the speed limits. It expensive to maintain. Finally, at 27, your insurance rates are going to be ridiculous. I would probably try to satisfy my need for speed In other ways. There was a guy that I knew that owned a Ferrari. He frequently went to the K1 track because his Ferrari was in the shop so often. I love to go fast, but I never understood American’s obsession with sports cars when you’re limited to how fast you can go. The fastest speed limit in the United States at 85 mph (Texas), just doesn’t cut it for me. Than...
- Sun Sep 05, 2021 1:02 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Thanks for sharing your perspective with me.Always passive wrote: ↑Sun Sep 05, 2021 6:33 am My parents, who grew up in Europe and went through WW2, never enjoyed themselves although they had the means. They ended their lives living that way. I grew up in that environment and promised myself that I would live differently, and I have.
Buy the car, enjoy yourself because you never know what the future will bring. One day it may be too late.
- Sat Sep 04, 2021 11:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
What kind of car? If you're a car guy and enjoy sports cars, then by all means go for it. If a sports car is more of a status symbol and you don't utilize the performance, then you should probably save the money. You're in terrific financial shape! If it's something that will bring a smile to your face every time you see it, make the purchase. Honda S2000. I definitely don't view cars (sport or not) as status symbols and it would most definitely be purely for myself and my own pleasure.. Thanks for the encouragement! I often feel like I shouldn't make decisions that will materially impede the progress I've made and that makes decisions like these difficult for me. The used car market is crazy. I love the S2000, but the price is nuts for a ...
- Sat Sep 04, 2021 9:52 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
There’s nothing wrong with the purchase, and provided you keep it in good shape you’ll probably be able to sell it near for what you paid for it. So your actual costs will be maintenance, insurance, and whatever depreciation you’ll see. Of course you could have appreciation as well. So it’s probably net net not the most expensive splurge you could make I agree with your analysis. Two things to watch out for: At the age of 27, I wouldn’t recommend buying $40,000 toys. It’s unlikely this will be your first or last silly purchase. I have made my fair share of silly purchases but they were purchases that were in the $200-$300 range, not mid $10,000s. I totally get where you're coming from. I, too, have already had some good couple of hundred a...
- Sat Sep 04, 2021 9:36 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Thank you for your advice. I definitely think about these types of things and try to not let my lifestyle and expenses inflate uncontrollably but I know it's always easier said than done. Honestly, if I didn't grow to love cars, I'm not sure what my expensive vice would be..calvin+hobbes wrote: ↑Sat Sep 04, 2021 7:55 pm If you can pay for it in cash, go ahead. It’s fine to live a little. Someone on the first page equated this purchase to achieving FI in your 40s vs. your 50s. Unless this one choice kicks off a drastic change in your financial habits, that is an exaggeration to say the least. You have done well for yourself, just don’t let this change your successful behaviors.
- Sat Sep 04, 2021 9:33 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Although I am a huge JDM fan and wish I could get a R34 right now but I am in CA :( I envy my friend's NSX that's probably worth upwards of $100k now. I digress. I'd be a bit hesitant to spend 40% of my annual income on a car. How do you plan on paying for the S2000? Cash / savings? Personally, I would save more to get some buffer for emergency and in case you need to do some major repairs. Do you have a car now? Are you selling it? Or are you going from no car to the S2000? Going from no car to S2000. Recently sold my last car that I bought a few years post-college. I would plan on paying using cash on hand. I lean on the fact that I do have a sufficient amount of money in my taxable brokerage account I could draw in the interim for emerg...
- Sat Sep 04, 2021 9:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
At 27yo, you've already shown yourself to be incredibly financially savvy, and you understand full well the trade-offs. I find myself going against my normal recommendations on this one, but I'd say if you feel you'll really appreciate the car, then buy it as a reward, as long as you realize this is a one-off exception to normal good financial behavior. One of two things will happen. Either you'll love it and feel it was a great use of $40,000. Or, you'll realize it's "just a car" and probably not worth that much. Either is a good outcome! The former because it will enrich your life. The latter because it's a great lesson to learn early on, to prevent you from wasting money like this again. For your long-term benefit, I hope it's...
- Sat Sep 04, 2021 9:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
When you say the above, are you saying you wished you would have pursued that nicer car you wanted when you were younger?alfaspider wrote: ↑Sat Sep 04, 2021 6:46 pm
At 36, I do own a sports car and a sporty car, but I still look back and wish I had gone for broke and got something hotter 10 years ago.
- Sat Sep 04, 2021 9:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Miatas are awesome. Have driven a friend's which he got for super cheap (even cheaper than they are now post-pandemic) and if I had gotten bit by the S2000-bug early on, I probably would be eye-ing Miatas now for the value/fun factor.
- Sat Sep 04, 2021 9:24 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
S2000 Hondas do seem to be holding their value as of late..at least from what I follow on Bring A Trailer. I would say go ahead and buy it as long as you don't plan on adding a ton of miles as that is where the value retention comes in on almost any collector car Well my intention is to drive it and enjoy it as much as possible and not plan to sell it ever, which I know runs counter to my stating the whole collector car holding value thing, but idk all I know is I've been really wanting one :? but at least it, by chance, if I find out that I outgrow it much sooner than I would've thought, then I would have, hopefully, not put too many miles on it, and still be able to recoup the majority (but not all) of my cost which I would then consider...
- Sat Sep 04, 2021 9:19 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Thanks, Klang. My intention would be to make it an all cash purchase (even though I already know it will hurt to see my immediate savings/checking account go to near 0 despite having an adequate amount in taxable accounts to cover emergencies in the interim). Out of curiosity, may I ask what that piece of sport equipment you bought was?KlangFool wrote: ↑Sat Sep 04, 2021 5:03 pm OP,
Go for it. Long ago while I was in high school, I spent all my savings over 10+ years until that time to buy one piece of sport equipment. I used it for 10+ years. It was worth it for me.
Whether it will be worth it for you or not, you will learn a lot from this lesson. And, from that stand point, it will be worthwhile for you. So, just buy it with CASH.
KlangFool
- Sat Sep 04, 2021 5:39 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
The high price, i believe, reflects the rare spec of the particular year car (and its color combo) and the low mileage. I like the reliability of the Honda. I'm not necessarily looking for much better performance (in the way you're comparing torque of another convertible roadster) but rather the certain way the car's drive and ownership makes me feel, if that makes sense.Thesaints wrote: ↑Sat Sep 04, 2021 5:08 pm40k for an S2000 ????
You could get a Z3 for a lot less with a higher torque and way classier.
A newer Z4 hard top convertible would cost maybe 10k less and run circles around the S2000
- Sat Sep 04, 2021 3:47 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Op specific stated in 2 or 3 posts in this thread that the car is a Honda S2000. Thanks I missed that. Appreciate your input! Let me just share the car I'm looking at since a few people have asked: https://www.autotrader.com/cars-for-sal ... pe=listing Two things to consider; 1) It will likely depreciate quickly if you use it as a daily driver and put a lot of miles on it. With a car like that having a second car as a daily driver is probably a good idea but that will make it a lot more expensive. True. I recognize both of your points and, to be honest, if I purchase the car, I'd probably treat it as money gone forever since my intent would also be to hold onto it forever. Having it as a 2nd car would be the ideal scenario as you mentioned...
- Sat Sep 04, 2021 3:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
What kind of car? If you're a car guy and enjoy sports cars, then by all means go for it. If a sports car is more of a status symbol and you don't utilize the performance, then you should probably save the money. You're in terrific financial shape! If it's something that will bring a smile to your face every time you see it, make the purchase. Honda S2000. I definitely don't view cars (sport or not) as status symbols and it would most definitely be purely for myself and my own pleasure.. Thanks for the encouragement! I often feel like I shouldn't make decisions that will materially impede the progress I've made and that makes decisions like these difficult for me. Is this a used car? Wikipedia says this car was manufactured from 1999 to 20...
- Sat Sep 04, 2021 3:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Are you still living with your parents? Yes, and I do pay them some rent but will be moving out soon into my own space. Duuuuude! So you make $115-$120k a year, spend about $72k of that a year and you are still living at home with your parents?? The spending figure you quoted sounds way high to me :shock: . Maybe, I did my savings calculation wrong.. the 40% savings rate was just a mental estimate I threw out. My total annual spending currently is somewhere closer to 20k I would say. I will say that I did spend some periods of time living on my own/with a roommate and moved back in with my folks last year due to working from home and the pandemic. I'm sure this will come across as old-fashioned, but I'd recommend that you cut those apron s...
- Sat Sep 04, 2021 3:02 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
OP: Please tell us more details about which type of S2000 you're looking for. AP1? AP2? CR(probably not for $40k) As I'm sure you know, these cars are rising quickly in value. They're the last real analog sports car for those who want more than a Miata. They are very fun to drive. While not as fun as an Elise, they are quite nice and are reliable. There's a silverstone AP2 in my garage right now (my son's) that he's owned for just over a year. Trivia, in case you don't know, all S2000 colors are named for racetracks. I owned a Lotus Elise for 4 years. The S2000 would make a better daily. Much easier to get into and out of although I did daily my Lotus for a summer. But the Elise is more fun to drive than anything else that exists. You can ...
- Sat Sep 04, 2021 2:50 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
If you’re into cars you should do it now before you get married as this is likely the best opportunity to spend money just on yourself. At that price I’d also cross shop a used Lotus Evora — you should be able to get a 2010-2012 higher mileage for around $40k. I first learned about it on bogleheads as it is sort of the budget exotic with a Toyota camary engine. It has supercar looks but not the crazy dollar repair bills (although not as hassle free as a Toyota) I’m 45 and bought one 2 years ago for around $40k but am thinking of selling due to endless complaints from my wife despite our house being paid off, private school paid for the kids, and her not working. Thanks for that perspective. I'm not too much a fan of the Evora (looks-wise),...
- Sat Sep 04, 2021 2:35 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Part of me really wants to just go for it since the car is becoming harder to find (in a clean, well maintained condition) and values keep rising, BUT my other financially prudent side says no, think of the opportunity cost (i.e. compound interest, potential house down payment, etc.) and keep saving/investing instead. I wouldn't buy a S2000, but it's because I don't value a used S2000 at $41k. This is not a good move financially. But not every move you make in life needs to be financially sound. I drive a lot and frequently take my car on road trips. So I never intend to resale my car, unless the potential buyer don't care about buying a 200k miles car. Do you buy this car as a daily driver? Intention would be to buy it as a short-term dai...
- Sat Sep 04, 2021 2:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
OP, Go ahead and do it. You need to learn you lesson some time. It is cheaper to do it earlier in your life. Please find out how much car insurance that you would be paying each year. KlangFool Thanks, KlangFool. It feels like an inevitable "lesson" for me personally to learn.. (putting down a material amount of money on a sports car), so I guess it is a matter of timing as you said. Ugh :( yuppiebogle, You would learn a lot more than that. But, it is something for you to discover. In summary, money has been very easy for you to earn and save. Hence, you do not think that it is a big deal to spend 40K on a car plus whatever amount that you need to pay to maintain this car. You just have to spend 40K to find out. Just pay it with ...
- Sat Sep 04, 2021 2:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Hi everyone, Would it be an utterly stupid/regretful decision to spend 40k on a dream car given my current financial picture? :confused : - 27 yo. - Single, no kids - 100k salary + 15-20% year end bonus - Currently saving ~40% of my total gross compensation (via maxing retirement accs. and excess saving in taxable) Balance sheet - $42k in cash/savings - $241k saved in retirement accounts - $12k crypto - $35k in taxable brokerage accounts - No debt For some context, the car holds its value fairly well (if taken care of) and has actually been appreciating steadily over the past several years. Part of me really wants to just go for it since the car is becoming harder to find (in a clean, well maintained condition) and values keep rising, BUT ...
- Sat Sep 04, 2021 1:52 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Thanks, KlangFool. It feels like an inevitable "lesson" for me personally to learn.. (putting down a material amount of money on a sports car), so I guess it is a matter of timing as you said. Ugh
- Sat Sep 04, 2021 1:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
That just seems distasteful . (the license plates)TxAg wrote: ↑Sat Sep 04, 2021 1:45 pmDuuuuude!yuppiebogle wrote: ↑Sat Sep 04, 2021 1:08 pmYes, and I do pay them some rent but will be moving out soon into my own space.
There's a guy down the street that lives with his parents. He bought a Tesla with personalized plates. He has had two sets of plates... One said "Sup Girl" and the other said "No Hanz"
Maybe I'm a just a curmudgeon at 39, but it drives me crazy.
- Sat Sep 04, 2021 1:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
- Sat Sep 04, 2021 1:16 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Please share some suggestions! This is something I've thought about a lot. I've helped them out with unexpected costs here & there, but I definitely agree with you.LilyFleur wrote: ↑Sat Sep 04, 2021 1:10 pmThey helped you out a lot. I'd do something nice for them.yuppiebogle wrote: ↑Sat Sep 04, 2021 1:08 pmYes, and I do pay them some rent but will be moving out soon into my own space.
I think the time for a sports car is either now, or much later in life
- Sat Sep 04, 2021 1:10 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Honda S2000. I definitely don't view cars (sport or not) as status symbols and it would most definitely be purely for myself and my own pleasure..Kaizen Soze wrote: ↑Sat Sep 04, 2021 1:01 pm What kind of car?
If you're a car guy and enjoy sports cars, then by all means go for it. If a sports car is more of a status symbol and you don't utilize the performance, then you should probably save the money.
You're in terrific financial shape! If it's something that will bring a smile to your face every time you see it, make the purchase.
Thanks for the encouragement! I often feel like I shouldn't make decisions that will materially impede the progress I've made and that makes decisions like these difficult for me.
- Sat Sep 04, 2021 1:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
- Sat Sep 04, 2021 12:42 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
- Sat Sep 04, 2021 12:42 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
S2000! idk of a Miata that expensive
- Sat Sep 04, 2021 12:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Re: Would this be a extremely bad purchase? (Sport Car)
Hi everyone, Would it be an utterly stupid/regretful decision to spend 40k on a dream car given my current financial picture? :confused : - 27 yo. - Single, no kids - 100k salary + 15-20% year end bonus Balance sheet - $42k in cash/savings - $288k saved in retirement accounts - $12k crypto - $35k in taxable brokerage accounts - Currently saving ~40% of my total gross compensation (via maxing retirement accs. and excess saving in taxable) For some context, the car holds its value fairly well (if taken care of) and has actually been appreciating steadily over the past several years. Part of me really wants to just go for it since the car is becoming harder to find (in a clean, well maintained condition) and values keep rising, BUT my other f...
- Sat Sep 04, 2021 12:29 pm
- Forum: Personal Finance (Not Investing)
- Topic: Would this be a extremely bad purchase? (Sport Car)
- Replies: 212
- Views: 15336
Would this be a extremely bad purchase? (Sport Car)
Hi everyone, Would it be an utterly stupid/regretful decision to spend 40k on a dream car given my current financial picture? :confused : - 27 yo. - Single, no kids - 100k salary + 15-20% year end bonus - Currently saving ~40% of my total gross compensation (via maxing retirement accs. and excess saving in taxable) Balance sheet - $42k in cash/savings - $241k saved in retirement accounts - $12k crypto - $35k in taxable brokerage accounts - No debt For some context, the car holds its value fairly well (if taken care of) and has actually been appreciating steadily over the past several years. Part of me really wants to just go for it since the car is becoming harder to find (in a clean, well maintained condition) and values keep rising, BUT m...
- Thu Jan 07, 2021 12:43 pm
- Forum: Personal Investments
- Topic: 27 years old - How am I doing?
- Replies: 30
- Views: 5222
Re: 27 years old - How am I doing?
Update : Was finally able to log into my HSA account and check what I had set as my HSA allocation. HSA is currently 100% invested in iShares S&P 500 Index Fund (K) with a net expense ratio of 0.03%. Also just frontloaded my Roth IRA for 2021 using the $6k I had been saved through Jan - Dec 2020 ($500/mo. into Ally HY savings account earmarked for Roth IRA). Question on this - Instead of having $500/mo. taken out of my paycheck monthly and put in the Ally savings account, would it be better to simply direct the $500/mo. to my taxable brokerage account and invest it in VTI until the beginning of next year? And then sell/transfer $6k from there to the Roth? Given that my Emergency fund was still relatively low, I had kept the $500/mo. in...
- Tue Dec 15, 2020 3:01 pm
- Forum: Personal Investments
- Topic: 27 years old - How am I doing?
- Replies: 30
- Views: 5222
Re: 27 years old - How am I doing?
Does your 401k offer a Roth option? Given your high savings rate and early start, you’re likely to wind up with a whopper balance in your 401k. Having a portion of that as Roth will help you manage RMDs. My 401k does offer a Roth option. Are you advising that for 2021 I try to shift from maxing out my regular 401k to maxing the Roth 401k in order to achieve additional flexibility with regard to RMDs at retirement age? Yes, that’s what I’d do — am doing, in fact. In my employer account, only my contributions can be Roth; the match is still Traditional. So I’ve still got some tax deferral whether I want it or not. No one knows for sure what will happen with taxes in the future, but everyone agrees that tax rates are at historic lows now. Don...
- Mon Dec 14, 2020 8:10 am
- Forum: Personal Investments
- Topic: 27 years old - How am I doing?
- Replies: 30
- Views: 5222
Re: 27 years old - How am I doing?
How am I doing? You are doing very well. General Portfolio Check-Up (i.e. areas to optimize current investments, portfolio allocation issues, etc.) You are contributing so much more to your 401k than your Roth IRA so I recommend you put all the international stock allocation in the 401k and remove it from your Roth IRA. Add VGIST and remove VXUS. So you recommend I exit my position in VXUS all together (I.e. sell vxus in roth ira and use proceeds to buy VGIST; am I able to do a direct swap from VXUS to VGINT?) And then from there pick an international fund from my available 401k options to achieve my desired int'l allocation, correct? Also, is there a particular reason you recommend VGIST over VXUS? Thanks . Should I consider cutting back ...
- Mon Dec 14, 2020 12:31 am
- Forum: Personal Investments
- Topic: 27 years old - How am I doing?
- Replies: 30
- Views: 5222
Re: 27 years old - How am I doing?
1. How am I doing? I ideally would like to be FI (financially independent) by sometime in my late thirties/early forties. Am I on track? You’re doing great but I wouldn’t get too bogged down with a timeline at your stage, given your age and the changes on your short/medium horizon (moving in with girlfriend - will this lead to marriage and children?). Lots of unknowns. 2. General Portfolio Check-Up (i.e. areas to optimize current investments, portfolio allocation issues, etc.) Does your 401k offer a Roth option? Given your high savings rate and early start, you’re likely to wind up with a whopper balance in your 401k. Having a portion of that as Roth will help you manage RMDs. My 401k does offer a Roth option. Are you advising that for 202...