Just got a surprise raise. What would you do?

For the first time in my adult life, I am not driving a Manual transmission vehicle. Actually most of my life has been with a Manually Tacoma of some kind.

I have a GX460 now. It would have already been built out with new gears, and a new bumber, but the part delays are just too insane right now. I don't want to do much to it beyond that.

I got a huge raise (around 40-50K plus an additional bonus), and I was thinking about getting a second truck (2-door) just for me to drive for fun by myself. Basically, i'm at a spot where my mortgage is only 10% of my monthly income, so I feel like having some fun for once. Already maxed out my 401K, Roth IRA, and personal emergency fund. I don't have any other debts either. Don't know what else to do beside just pay off my mortgage honestly.

I was wondering if anyone has a recommendation.

Tacoma 3rd gen (only if supercharged).
Tacoma 2nd gen (Supercharged only).

But I would really like an 86-1995 Toyota pickup with a 3.4 swap and an actual TRD supercharger. This seems like it could be the cheapest option, but could quickly become the most expense option.

Anyone have an opinion on this?

 

If you want an older one, instead of a charger on a 3.4 just do an LS swap.

 

that is some crazy raise man, you do what you like

 

https://bringatrailer.com/listing/1986-toyota-turbo-truck-sr5-xtra-cab/

 

Probably the most practical plan, but I am not a fan of GM.

That doesn't look like a 4x4 though.

 

Buy a rental property.


And then buy another rental property.

 

I'll buy in cash. I'm cool on more debt. There are some condos around here for 100K. Need to deal with Section 8ers though not sure if that would even be worth it.

 

Buy Dogecoin at Christmas (the last one that is)

 

You'd be surprised, one positive to that is the government ain't paying you late like a regular tenant might.

 

https://bringatrailer.com/listing/1995-toyota-4x4-pickup-12/

 

Buy this truck, and install a supercharger?

https://www.tacomaworld.com/threads/2019-trd-pro-6mt-immaculate-low-mileage-socal.723799/

 

Bank your raise for a while. Live on what you have been living on and build a bankroll to where you can pay cash and still have a couple 100Gs left over. I banked all my raises over the years and continued to live well on my regular salary. Retired at 50 and never looked back. We are cash and carry with our home and vehicles.

Friends tease me at the time and said "you only live once" and "could die tomorrow". I'm glad I didn't follow their advice because I've lived a lot longer than they said I would. Most of them are in debt up to their ears and at 50 plus years Their homes won't be paid off for another 20 years because of constant refinancing and then the killer......starting the loan all over again.

People really make stupid Financial choices and then they wonder why they can't get ahead

 

3rd gen makes the best power with a blower, you can get magnuson or procharger. But there are no 2 door manuals and only access cab manual is a sport.

there was an access cab manual trd off road 2nd gen. Which is what I would do if staying with a V6 and supercharging. TRD had a legit supercharger which I think is a TVS unit like the magnuson available for gen 2. That’s the route I’d go

 

Save your money... you are gonna need it later.

 

The responsible thing to do would be to not get the truck. Save for a house. If you already have one, pay it off early. The responsible thing isn't always the easiest or the funnest.

 

Where I live the 1000 sqft town home with no garage form the 1970s goes for around $450k new town homes with no garage are about 1.1m and with a garage much more.

There is a section 8 area near my house with basically zero crime. What's more interesting is that about a mile away there is a slightly nicer neighborhood that is NOT section 8 with tons of really serious crime. My thinking is that section 8 requires people to regularly prove their employment and income while the other area does not.

 

Personally I’d go take some trips. As I get older I value experiences more than things.

 

This is true about only living once. I think there's a balance, and that's different for everyone. My parents were the extreme of this, but they never have lived beyond their means. The joke was my dad drove a worse car than most kids in my rich town we grew up in..but he loved car auctions and being able to pay cash for a basic car that served him well for a few years of 100 miles plus a day driving.

In some cases they're disabled and haven't the ability to cause monkeyshines as well.

Not a bad idea. Especially if you're younger OP..do those things you want to do before changing your life in terms of settling down if that's the case.

 

I hear you. It is my plan to pay off my house in the next 5 years.

I don't have any debt besides the house, and I don't plan on getting any more.

I don't want to have more than 30K in cash on hand though especially with inflation rising.