can I get boglehead approval for a 70K truck?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Topic Author
sjl333
Posts: 305
Joined: Sun Apr 20, 2014 2:59 pm

can I get boglehead approval for a 70K truck?

Post by sjl333 »

Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).

I am planning on buying a Toyota SR-5, brand new, for 35Kish? Probably hold onto it for 2-3 years before the delivery of my cyber truck.

Reasons I need the SR-5 is due to:

-towing my dirt bike for the tracks
-towing my dirt bike for the trails
-towing my MTB for the trails

I currently drive a 2011 Honda accord (KBB = 7Kish?).

Im doing pretty well right now, with 750K in investments (I gambled earlier this year and got up to 1.8 mill, but lost a lot of my gains). Currently all in-on tesla and okay with the gamble.

31 y/o, 300-400K/year salary.

anybody have any issues with my order of the cyber truck at 70K? also, planning on using the SR-5 for 2-3 years and probably sell at a 5-10K loss?

thanks in advance!
Normchad
Posts: 5648
Joined: Thu Mar 03, 2011 6:20 am

Re: can I get boglehead approval for a 70K truck?

Post by Normchad »

Approved.

It’s your money spend on things that make you happy.
bstewie
Posts: 215
Joined: Wed Oct 04, 2017 8:16 pm

Re: can I get boglehead approval for a 70K truck?

Post by bstewie »

if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
Topic Author
sjl333
Posts: 305
Joined: Sun Apr 20, 2014 2:59 pm

Re: can I get boglehead approval for a 70K truck?

Post by sjl333 »

bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
bstewie
Posts: 215
Joined: Wed Oct 04, 2017 8:16 pm

Re: can I get boglehead approval for a 70K truck?

Post by bstewie »

sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
Topic Author
sjl333
Posts: 305
Joined: Sun Apr 20, 2014 2:59 pm

Re: can I get boglehead approval for a 70K truck?

Post by sjl333 »

bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?
User avatar
Stinky
Posts: 14152
Joined: Mon Jun 12, 2017 11:38 am
Location: Sweet Home Alabama

Re: can I get boglehead approval for a 70K truck?

Post by Stinky »

OP, I note that you used the word "gamble" in describing your investments three times already in this thread.

I guess that I'm fine with you buying a Toyota right now.

But I'd wait on making a final commitment to the cyber truck until you can legitimately say that you've stopped "gambling" and started "investing" with your life savings.
Retired life insurance company financial executive who sincerely believes that ”It’s a GREAT day to be alive!”
Topic Author
sjl333
Posts: 305
Joined: Sun Apr 20, 2014 2:59 pm

Re: can I get boglehead approval for a 70K truck?

Post by sjl333 »

Stinky wrote: Fri Apr 16, 2021 4:03 am OP, I note that you used the word "gamble" in describing your investments three times already in this thread.

I guess that I'm fine with you buying a Toyota right now.

But I'd wait on making a final commitment to the cyber truck until you can legitimately say that you've stopped "gambling" and started "investing" with your life savings.
calculated risk? is that wording better? nothing is ever guaranteed in life. everything is always a gamble. everyone lives with their risk profile, and i am okay with 100% in tesla.
bstewie
Posts: 215
Joined: Wed Oct 04, 2017 8:16 pm

Re: can I get boglehead approval for a 70K truck?

Post by bstewie »

sjl333 wrote: Fri Apr 16, 2021 4:01 am
bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?
i hope you do very well, i never said own zero tesla
Ivygirl
Posts: 1212
Joined: Sun Apr 06, 2014 1:36 pm

Re: can I get boglehead approval for a 70K truck?

Post by Ivygirl »

There is a lot of money sloshing around the world and a profound failure of imagination in how to use it profitably.

Not approved. Buy the Toyota though.
snowox
Posts: 520
Joined: Wed Nov 08, 2017 8:17 am

Re: can I get boglehead approval for a 70K truck?

Post by snowox »

bstewie wrote: Fri Apr 16, 2021 4:10 am
sjl333 wrote: Fri Apr 16, 2021 4:01 am
bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?
i hope you do very well, i never said own zero tesla

The question is about can you afford to buy the truck and based on your salary the answer is of course. As far as investing goes thats yours to make but I will only say this. Any one stock is speculative so at least be more diversified. Enjoy your truck.
User avatar
samsoes
Posts: 2802
Joined: Tue Mar 05, 2013 8:12 am
Location: Northeast Rat Race

Re: can I get boglehead approval for a 70K truck?

Post by samsoes »

sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).
What the heck is a cyber truck?

Sounds like something not real.
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)
runner3081
Posts: 5993
Joined: Mon Aug 22, 2016 3:22 pm

Re: can I get boglehead approval for a 70K truck?

Post by runner3081 »

Yes, you can.

Just today, one of the employees, 2 levels below in my department showed me his pre-order Tesla truck today.

He makes $25 an hour and his wife makes about the same. Sigh.
runner3081
Posts: 5993
Joined: Mon Aug 22, 2016 3:22 pm

Re: can I get boglehead approval for a 70K truck?

Post by runner3081 »

samsoes wrote: Fri Apr 16, 2021 4:48 am
sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).
What the heck is a cyber truck?

Sounds like something not real.
Tesla truck, google it!
User avatar
samsoes
Posts: 2802
Joined: Tue Mar 05, 2013 8:12 am
Location: Northeast Rat Race

Re: can I get boglehead approval for a 70K truck?

Post by samsoes »

runner3081 wrote: Fri Apr 16, 2021 5:43 am
samsoes wrote: Fri Apr 16, 2021 4:48 am
sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).
What the heck is a cyber truck?

Sounds like something not real.
Tesla truck, google it!
Thanks.

OP should have said as much in the first place, or at least capitalize the first letter (Cybertruck) to indicate it's a proper noun.
"Happiness Is Not My Companion" - Gen. Gouverneur K. Warren. | (Avatar is the statue of Gen. Warren atop Little Round Top @ Gettysburg National Military Park.)
MadAsgardian
Posts: 89
Joined: Sun Mar 21, 2021 5:35 am

Re: can I get boglehead approval for a 70K truck?

Post by MadAsgardian »

sjl333 wrote: Fri Apr 16, 2021 4:06 am calculated risk? is that wording better? nothing is ever guaranteed in life. everything is always a gamble. everyone lives with their risk profile, and i am okay with 100% in tesla.
My dad’s coworkers were okay with having 100% of their retirement invested in company stock — while it was going up, at least. When it crashed and never recovered, not so much.

I mean for starters, what if Elon were to croak tomorrow? Would you still be as bullish on Tesla’s future? Not to mention his penchant for tweets which tank his stock and/or violate SEC rules.
Freetime76
Posts: 745
Joined: Wed Jun 26, 2019 8:26 pm

Re: can I get boglehead approval for a 70K truck?

Post by Freetime76 »

samsoes wrote: Fri Apr 16, 2021 4:48 am
sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).
What the heck is a cyber truck?

Sounds like something not real.
A) I’ll sell you a virtual cyber truck for $70K :sharebeer

B) OP: your investment strategy smacks of very anti-Bogleheads (Gambling...all-in on Tesla...index outdated). Are you trolling?
Alternatively, why ask Bogleheads if you disagree with the rest of it? I’m not a very experienced person on this forum, yet I can say - I wouldn’t ask someone in the crypto forums what they think of my investment strategy or purchases...because I won’t touch the stuff. And yes, feel free to tell me that’s outdated, too. I’m ok with it :wink:

C) Not approved. Pre-ordering a vehicle 2+3 years in advance is ridiculous in my book. Who knows where we will be/ or what will be invented in 3 years? You’re awfully busy gambling, so, the worst thing may have happened to you (you “won” something, once).
Please spell out new acronyms. Thank you.
Freetime76
Posts: 745
Joined: Wed Jun 26, 2019 8:26 pm

Re: can I get boglehead approval for a 70K truck?

Post by Freetime76 »

MadAsgardian wrote: Fri Apr 16, 2021 5:58 am
sjl333 wrote: Fri Apr 16, 2021 4:06 am calculated risk? is that wording better? nothing is ever guaranteed in life. everything is always a gamble. everyone lives with their risk profile, and i am okay with 100% in tesla.
My dad’s coworkers were okay with having 100% of their retirement invested in company stock — while it was going up, at least. When it crashed and never recovered, not so much.

I mean for starters, what if Elon were to croak tomorrow? Would you still be as bullish on Tesla’s future? Not to mention his penchant for tweets which tank his stock and/or violate SEC rules.
I know. He might go to Mars (somebody has to, eventually!).

Tongue in cheek comments aside, this is a very good point.
Please spell out new acronyms. Thank you.
YeahBuddy
Posts: 2503
Joined: Tue Oct 31, 2017 12:55 pm

Re: can I get boglehead approval for a 70K truck?

Post by YeahBuddy »

sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).

I am planning on buying a Toyota SR-5, brand new, for 35Kish? Probably hold onto it for 2-3 years before the delivery of my cyber truck.

Reasons I need the SR-5 is due to:

-towing my dirt bike for the tracks
-towing my dirt bike for the trails
-towing my MTB for the trails

I currently drive a 2011 Honda accord (KBB = 7Kish?).

Im doing pretty well right now, with 750K in investments (I gambled earlier this year and got up to 1.8 mill, but lost a lot of my gains). Currently all in-on tesla and okay with the gamble.

31 y/o, 300-400K/year salary.

anybody have any issues with my order of the cyber truck at 70K? also, planning on using the SR-5 for 2-3 years and probably sell at a 5-10K loss?

thanks in advance!


I like how you want Bogleheads approval then bash Boglehead investing style. When you're winning you feel invincible. Every other approach is inferior. Watch out when things go bad. Nothing lasts forever. See the dot com bubble. Housing crisis. Penny stock pump and dumps.
For your question, you can easily afford the truck so its a no brainer. Driving an old beat up Accord with your net worth and yearly income is way to frugal. Enjoy life man.
Light weight baby!
Gardener
Posts: 698
Joined: Sun Nov 18, 2012 2:03 pm

Re: can I get boglehead approval for a 70K truck?

Post by Gardener »

OP, respectfully I think it's your over confidence in a single company that will get you in trouble.

There are many variables that you cannot control with owning a single company that could cause a significant loss.

What if Musk sells Tesla to focus on SpaceX? And the new owner takes Tesla in a completely different direction that you arent keen on?

What if Tesla is already over priced? The market already is anticipating Tesla to do great things in the future and that's priced into the stock right now. What if it falls short of those market expectations?

You are critical of indexing on an indexing forum. But, you're reasoning for not indexing does not hold up to scrutiny. It sounds like you are content to gamble...best of luck..
Doc7
Posts: 1122
Joined: Fri Aug 24, 2007 12:55 pm

Re: can I get boglehead approval for a 70K truck?

Post by Doc7 »

sjl333 wrote: Fri Apr 16, 2021 4:01 am
bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?

Out dated?
Have indexes outperformed individual investors and active fund managers for over 100 years (index funds for a shorter period of time than that) because “innovation” did not exist until 2020?
z3r0c00l
Posts: 3807
Joined: Fri Jul 06, 2012 11:43 am
Location: NYC

Re: can I get boglehead approval for a 70K truck?

Post by z3r0c00l »

You have every right to spend your money on something that makes you happy, even if it seems like a waste to the rest of us. (And I say that being the type to never sell a car under 100K unless it is falling apart.) Maybe split the difference and get the $50,000 version of the truck with two motors, seems like enough to have fun with it. Those extra $20K seem to offer diminishing returns.
70% Global Stocks / 30% Bonds
User avatar
SmileyFace
Posts: 9184
Joined: Wed Feb 19, 2014 9:11 am

Re: can I get boglehead approval for a 70K truck?

Post by SmileyFace »

If you aren't a boglehead why are you asking for boglehead approval?
You disagree with the fundamentals of bogleheads so why seek their approval?
"I don't agree with how you all invest your money, can you approve how I spend mine?" Just sounds like trolling to me.
Freetime76
Posts: 745
Joined: Wed Jun 26, 2019 8:26 pm

Re: can I get boglehead approval for a 70K truck?

Post by Freetime76 »

Doc7 wrote: Fri Apr 16, 2021 6:26 am
sjl333 wrote: Fri Apr 16, 2021 4:01 am
bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?

Out dated?
Have indexes outperformed individual investors and active fund managers for over 100 years (index funds for a shorter period of time than that) because “innovation” did not exist until 2020?
Well said.

That’s how I feel about the “invention” of credit cards/rewards points/miles. Not really necessary nor revolutionary for doing well in life. Soon there will be a Tesla rewards card ...
Please spell out new acronyms. Thank you.
mr_brightside
Posts: 897
Joined: Sat Oct 17, 2020 3:23 pm

Re: can I get boglehead approval for a 70K truck?

Post by mr_brightside »

dude you make $300k. buy the truck and enjoy :sharebeer

-------------------------------
Exchme
Posts: 1335
Joined: Sun Sep 06, 2020 3:00 pm

Re: can I get boglehead approval for a 70K truck?

Post by Exchme »

Let's say you are right and can make big % returns in the market, diverting $70K to a truck is a LOT of opportunity cost. But there are no guarantees in life and you're not financially independent yet, so I think it's easier to focus on the value of the truck to you if you completely ignore your market activities and think about the truck with respect to how long it takes you to save that much money from your salary. So if you save $100K/year, is the change to the Cybertruck vs the (the 2-3 year old) Toyota worth 8-9 months of your labor to save up?
surfinagin
Posts: 507
Joined: Wed Oct 26, 2011 8:19 pm

Re: can I get boglehead approval for a 70K truck?

Post by surfinagin »

sjl333 wrote: Fri Apr 16, 2021 2:37 am Im doing pretty well right now, with 750K in investments (I gambled earlier this year and got up to 1.8 mill, but lost a lot of my gains). Currently all in-on tesla and okay with the gamble.

31 y/o, 300-400K/year salary.
Lack info regarding annual budget, job security/projected future income, other obligations/plans (family), detailed assets (where's the 750K gambling winnings now?) etc.

Do you have a plan if an accident next week on your dirt bike leaves you permanently disabled?
Have you considered things like that, or no worries?

Congrats on your current income level, but keep in mind that life can throw nasty curveballs.
It's your life, your $, and your decision if you want to gamble everything on SPACS and buy 70K Cybertrucks.
If that's how you roll, go ahead and live large and ride the wave -just realize the risks.
I'd maximize saving/investing as much of that income as possible until the sum represents a reliable "insurance policy" for the rest of my life, vs living in the moment, gambling it all on high risk bets, and risk regrets. I'd consider needs vs wants and be risk-averse, to avoid wasting my good fortune.
TSWNY
Posts: 176
Joined: Sun Mar 13, 2016 1:05 pm

Re: can I get boglehead approval for a 70K truck?

Post by TSWNY »

You make $300-$400K per year, yolo'ing individual stocks and not sweating missing out on not pulling the trigger on a $1.3m stock gain.......Bro, buy 2 Cyber Trucks.
Nowizard
Posts: 4839
Joined: Tue Oct 23, 2007 5:33 pm

Re: can I get boglehead approval for a 70K truck?

Post by Nowizard »

:You already know that you are gambling, so you can be pleased that this is such a great site that many won't bluntly say what they are thinking. The decision is yours, as always. It is at least a beginning to question it. Maybe, just maybe, you will be fortunate, but you are OK with your decision now, so, good luck! You don't have to be correct, just willing to accept the consequences of decisions.

Tim
User avatar
Wiggums
Posts: 7050
Joined: Thu Jan 31, 2019 7:02 am

Re: can I get boglehead approval for a 70K truck?

Post by Wiggums »

MadAsgardian wrote: Fri Apr 16, 2021 5:58 am
sjl333 wrote: Fri Apr 16, 2021 4:06 am calculated risk? is that wording better? nothing is ever guaranteed in life. everything is always a gamble. everyone lives with their risk profile, and i am okay with 100% in tesla.
My dad’s coworkers were okay with having 100% of their retirement invested in company stock — while it was going up, at least. When it crashed and never recovered, not so much.

I mean for starters, what if Elon were to croak tomorrow? Would you still be as bullish on Tesla’s future? Not to mention his penchant for tweets which tank his stock and/or violate SEC rules.
Before the telecom bust, my coworkers were ok with 40 year’s worth of company stock. I took them to the fidelity office and they both chickened (and didn’t sell) because of $5,000 in taxes. The stock dropped to 98 cents.

I feel for them, but at least I tried to save them.
"I started with nothing and I still have most of it left."
BobStrauss
Posts: 178
Joined: Fri Aug 19, 2011 9:08 pm

Re: can I get boglehead approval for a 70K truck?

Post by BobStrauss »

TSWNY wrote: Fri Apr 16, 2021 7:01 am You make $300-$400K per year, yolo'ing individual stocks and not sweating missing out on not pulling the trigger on a $1.3m stock gain.......Bro, buy 2 Cyber Trucks.
Hah, nailed it.
dukeblue219
Posts: 4074
Joined: Fri Jan 29, 2016 11:40 am

Re: can I get boglehead approval for a 70K truck?

Post by dukeblue219 »

You can't take it with you when you go. Buy the truck.
jebmke
Posts: 25475
Joined: Thu Apr 05, 2007 2:44 pm
Location: Delmarva Peninsula

Re: can I get boglehead approval for a 70K truck?

Post by jebmke »

dukeblue219 wrote: Fri Apr 16, 2021 7:20 am You can't take it with you when you go. Buy the truck.
I’ve never understood why people feel they need permission from random internet people to spend their own money.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
User avatar
Watty
Posts: 28859
Joined: Wed Oct 10, 2007 3:55 pm

Re: can I get boglehead approval for a 70K truck?

Post by Watty »

sjl333 wrote: Fri Apr 16, 2021 2:37 am 31 y/o, 300-400K/year salary.

anybody have any issues with my order of the cyber truck at 70K?
One big issue is that from what you said your net worth is pretty low relative to your income.

Unless you have a lot of other assets that you did not mention then you need to really figure out just where all the other money went.

There are several variations on a saying, "You can have anything you want but not everything you want."

Even if I don't think it would be a good idea you could easily afford the $70K for the truck, the big question is if you can afford the rest of your lifestyle.
User avatar
JoeRetire
Posts: 15381
Joined: Tue Jan 16, 2018 1:44 pm

Re: can I get boglehead approval for a 70K truck?

Post by JoeRetire »

sjl333 wrote: Fri Apr 16, 2021 2:37 amanybody have any issues with my order of the cyber truck at 70K?
If I disapprove, will you cancel your order?
This isn't just my wallet. It's an organizer, a memory and an old friend.
Somethingwitty92912
Posts: 490
Joined: Mon Sep 14, 2020 9:43 pm

Re: can I get boglehead approval for a 70K truck?

Post by Somethingwitty92912 »

sjl333 wrote: Fri Apr 16, 2021 4:01 am
bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”
do some more research....if im wrong... i am okay with that... boglehead index fund investing is out-dated. lets meet back in 2030? tesla out here solving real world problems (Self driving AI, battery technology, amazing cars (albeit not the best of qualities), potential for robo-taxis (will make uber/lyft obsolete)). I admit, the FSD still has a lot of work, but i am betting they will figure it out. Lets meet in 2030 and see how well this ages?
This comment is interesting. You say boglehead indexing is out dated yet you come here for their approval in order to buy a truck. It just feels like you are in the wrong forum.

However, I’d say once you have your retirement locked into a diverse portfolio of indexes to an amount you are satisfied with that will allow you to live the life you want for the rest of your days. Then, and only then, go buy all the trucks an Tesla you’d like. If that’s the case right now then you are doing fine. If it’s not, I’d take a long hard look at what your doing an consider it with an open mind.
an_asker
Posts: 4903
Joined: Thu Jun 27, 2013 2:15 pm

Re: can I get boglehead approval for a 70K truck?

Post by an_asker »

sjl333 wrote: Fri Apr 16, 2021 2:37 am Hello All,

I pre-ordered a cyber truck (70K) but probably wont be able to get it until the next 2-3 years (huge back log).

I am planning on buying a Toyota SR-5, brand new, for 35Kish? Probably hold onto it for 2-3 years before the delivery of my cyber truck.

Reasons I need the SR-5 is due to:

-towing my dirt bike for the tracks
-towing my dirt bike for the trails
-towing my MTB for the trails

I currently drive a 2011 Honda accord (KBB = 7Kish?).

Im doing pretty well right now, with 750K in investments (I gambled earlier this year and got up to 1.8 mill, but lost a lot of my gains). Currently all in-on tesla and okay with the gamble.

31 y/o, 300-400K/year salary.

anybody have any issues with my order of the cyber truck at 70K? also, planning on using the SR-5 for 2-3 years and probably sell at a 5-10K loss?

thanks in advance!
Approved, so long as you don't come back again and ask for approval to pay DS or DD's tuition of $70k+ at top two Ivy League univ!
CPonzi
Posts: 22
Joined: Fri Aug 10, 2018 7:37 pm

Re: can I get boglehead approval for a 70K truck?

Post by CPonzi »

Since you don't agree with Boglehead core investing principles, I'll try to answer from a different perspective.

It sounds like you believe strongly in what Tesla is doing yet you drive a Honda and are looking to buy a Toyota. With your income why not buy a Model 3 now, it can easily tow a dirt bike (plenty of people tow with them, think they are rated at 2,000lbs). Keep the reservation for the Cyber Truck, worst case you can cancel it in the future so no risk there. Would also look into an electric dirt bike if you haven't already. There are some really nice ones out there and they are only getting better.

Are you a homeowner? Have you looked into Tesla's Solar roof? You should definitely be thinking about that, get two power walls and now you can charge your new Model 3 and eventually the Cybertruck while reducing dependance on nonrenewable energy. If the wait period for the Tesla branded solar roof is too long you can get a traditional solar roof and pair it with Tesla Powerwall. There are a couple of YouTubers out there who show how this setup works with their cars, seems pretty slick. It takes early adopters to really influence and drive the technology, standing on the sidelines owning some stock while driving around in a Honda/Toyota doesn't really move the needle :oops: .
livesoft
Posts: 86075
Joined: Thu Mar 01, 2007 7:00 pm

Re: can I get boglehead approval for a 70K truck?

Post by livesoft »

What did your mother say?
Wiki This signature message sponsored by sscritic: Learn to fish.
User avatar
dziuniek
Posts: 1402
Joined: Mon Jul 23, 2012 2:54 pm

Re: can I get boglehead approval for a 70K truck?

Post by dziuniek »

BobStrauss wrote: Fri Apr 16, 2021 7:17 am
TSWNY wrote: Fri Apr 16, 2021 7:01 am You make $300-$400K per year, yolo'ing individual stocks and not sweating missing out on not pulling the trigger on a $1.3m stock gain.......Bro, buy 2 Cyber Trucks.
Hah, nailed it.
The cybertrucks might be a better investment than Tesla stock now.
I think even model 3s are holding their value well.

Buy 3 cybertrucks bro.
Get rich or die tryin'
stoptothink
Posts: 15368
Joined: Fri Dec 31, 2010 8:53 am

Re: can I get boglehead approval for a 70K truck?

Post by stoptothink »

runner3081 wrote: Fri Apr 16, 2021 5:42 am Yes, you can.

Just today, one of the employees, 2 levels below in my department showed me his pre-order Tesla truck today.

He makes $25 an hour and his wife makes about the same. Sigh.
Ehhh, one of my neighbors came home with a C8 the other day, he's a history teacher at the local high school and his wife stays home with their 4 kids...and they're trying to buy a single family home right now (not possible in my area <$475k).

OP sounds like a humblebrag.
MishkaWorries
Posts: 1362
Joined: Wed Aug 14, 2019 4:39 pm

Re: can I get boglehead approval for a 70K truck?

Post by MishkaWorries »

sjl333 wrote: Fri Apr 16, 2021 2:37 am

B) OP: your investment strategy smacks of very anti-Bogleheads (Gambling...all-in on Tesla...index outdated). Are you trolling?
Alternatively, why ask Bogleheads if you disagree with the rest of it?
Obviously trolling.
We plan. G-d laughs.
mushripu
Posts: 170
Joined: Fri Jan 26, 2018 7:26 am

Re: can I get boglehead approval for a 70K truck?

Post by mushripu »

bstewie wrote: Fri Apr 16, 2021 3:57 am
sjl333 wrote: Fri Apr 16, 2021 3:54 am
bstewie wrote: Fri Apr 16, 2021 3:51 am if you lost more than half your portfolio in 3m while the market has gone up, you probably need to stop gambling a lot more than you want a truck.
was gambling with some spacs, started at 500K, got up to 1.8 mill, went back down to 750K. still went up like 50ish %? cant complain, but was up 200-300%, wish i cashed out in time :oops:
you lost me at “still all-in on tesla and ok with the gamble”

Dear Sir
You probably lost your way to to the r/wallstreetbets and got to the wrong forum. :oops:


On the other hand you are indeed living below your means i.e driving a 7k 2011 vehicle. With a 300/400k income there is a lot of means to live below as well or squnder if I stretch language a bit.
Last edited by mushripu on Fri Apr 16, 2021 8:36 am, edited 1 time in total.
User avatar
TomatoTomahto
Posts: 17158
Joined: Mon Apr 11, 2011 1:48 pm

Re: can I get boglehead approval for a 70K truck?

Post by TomatoTomahto »

Freetime76 wrote: Fri Apr 16, 2021 6:00 am C) Not approved. Pre-ordering a vehicle 2+3 years in advance is ridiculous in my book. Who knows where we will be/ or what will be invented in 3 years?
I had to do that when ordering my Model X. That reservation cost (iirc) $5k; the CyberTruck reservation is only $100. 2.5 years later, I got my Model X and it was VIN 0002xx. I still love it, but have also put a reservation in on a CyberTruck. I just hope it fits in my garage (it’s very large). :D
I get the FI part but not the RE part of FIRE.
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: can I get boglehead approval for a 70K truck?

Post by JoMoney »

I like Dave Ramsey's 'rule of thumb', that the total value of all your vehicles shouldn't be more than half your annual income.
If you have significant wealth, you can include some theoretical value of the "income" your portfolio adds to your annual income/growth.
The idea, is that you don't want a large portion of your net worth sunk into things losing value (and automobiles do that quickly).
Last edited by JoMoney on Fri Apr 16, 2021 8:37 am, edited 1 time in total.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
User avatar
TomatoTomahto
Posts: 17158
Joined: Mon Apr 11, 2011 1:48 pm

Re: can I get boglehead approval for a 70K truck?

Post by TomatoTomahto »

an_asker wrote: Fri Apr 16, 2021 7:52 am Approved, so long as you don't come back again and ask for approval to pay DS or DD's tuition of $70k+ at top two Ivy League univ!
OP is 31 years old, so we have some time to prepare for that post :sharebeer
I get the FI part but not the RE part of FIRE.
H-Town
Posts: 5905
Joined: Sun Feb 26, 2017 1:08 pm

Re: can I get boglehead approval for a 70K truck?

Post by H-Town »

I say No to your cyber truck and I say good luck to your 100% Tesla stock.

I still drive the car since I started my professional career. I achieved FI at 50x expense and still drive that car. The portion of portfolio that support my FI (50x) is in index funds. Now I have the freedom to put new money towards rental real estates and riskier investments. I can spend on a lot of items that I want now that I don’t need to add new money to FI portfolio.

It doesn’t sound like that you cross the FI finish line yet. The higher the income, the higher chance that it will disappear one day. Nothing wrong with gambling, just don’t gamble with your lifesaving.
Time is the ultimate currency.
an_asker
Posts: 4903
Joined: Thu Jun 27, 2013 2:15 pm

Re: can I get boglehead approval for a 70K truck?

Post by an_asker »

TomatoTomahto wrote: Fri Apr 16, 2021 8:37 am
an_asker wrote: Fri Apr 16, 2021 7:52 am Approved, so long as you don't come back again and ask for approval to pay DS or DD's tuition of $70k+ at top two Ivy League univ!
OP is 31 years old, so we have some time to prepare for that post :sharebeer
LOL true dat!!
Money_Badger
Posts: 465
Joined: Thu Jul 02, 2020 11:05 pm
Location: Raleigh NC

Re: can I get boglehead approval for a 70K truck?

Post by Money_Badger »

I happen to think the Cybertruck is ugly AF. Other than that, go for it man.
mikejuss
Posts: 2833
Joined: Tue Jun 23, 2020 1:36 pm

Re: can I get boglehead approval for a 70K truck?

Post by mikejuss »

Why do you want approval for a purchase by people whose investment philosophy you don't even believe in?
50% VTSAX | 25% VTIAX | 25% VBTLX (retirement), 25% VTEAX (taxable)
Post Reply