Still think TITNC3: Return of the Iceberg was peak

Can I ask you guys a question? I am never on this section but I think this is where ask. Iam looking at buying a new toy. 2024 lexus is500 taxes in it is 90k Cdn. I don't have the best wage 50k Cdn but I do have a fair bit in investments from an inheritance. How much would you want to have before you felt comfortable spending 100k. I have no other debt just my house 265 I owe prob worth 525 nothing owing on my truck or visa. Thanks guys.

 

IMO, don't bother. Keep what vehicle you have, invest more and pay down the house.

 

I wouldn't be getting rid of my truck this would just be a weekender. But I understand what you are saying. Thank you I hope more people chime in. I guess none of you know me and I don't know any of you. So I have about 850-875 in investments and about 50 in my normal bank accounts if that helps.

 

Hugely

 

If you are comfortable with your financial future, and you think a new vehicle will enhance your life, then go for it. It’s only money as @kairo says

 

I wouldn't pay cash for a car - if you can get it financed for less than what you could earn on your cash.

Sell $100k worth of CSP's per week and that will pay for the car for you.

 

How old are you? If you've got $850k in investments, you're already pretty well set. Just buy the car and enjoy life.

 

I think that's actually your line, mister

 

Sooo close to my $1.90 sell on the $2.50 puts

 

Have you looked at a 1 or 2 year old certified/gently used?
Could save 20%?
Especially if it's not your daily driver but rather a splurge...

OOOH $CAD not $USD folks...
He's Poor

 

Lol I just spit my drink on the table. Dave Ramsey wouldn't approve and like you say since it's Cdn dollars he would also say I'm broke. Thank you for the input Treefort.

 

I'm 37 I have 2 kids 11 and 13. I won't have a work pension. Tbh none of this 900 I saved on my own I inherited about 650 and it just done pretty well over the past few years. My interest rate on the house is 1.9 but will be up for renewal in 3.5 and they have gone up substantially. I am super fortunate my family did alright as God knows what sort of situation I would be in without there sacrifices. Like I said I'm 37 no parents grandparents or siblings. Thank you everyone for your input. Maybe I should waitntill it hits 1.1 then taking the 100 won't feel as a big of a hit

 

Kids are not cheap. I'd hold off on dropping $100k until they are almost out of college. What I would do though is go rent a really fast car for a few days. If the urge hits again in 3 months rent another. That's gonna be way cheaper in the long run. lol

 

Moving to otc tomorrow, exciting times

 

yup by rule puts will be automatically exercised and sold off at their contract value. $250 each.

i think?

 

Puts.
https://m.youtube.com/watch?v=wUS5l-MU2Hs

 

In my opinion, you can get a ton of fun cars for way cheaper than that. You could get a brand new Miata for half that. You could get a used one for 10% of that, and if you stuff it up a tree, you're only down 10% of that, not nearly 100k syrup bucks. But it's not my signature on the paperwork, you're comfortable and if you want it, send it.

Unless you're under about 4%, then you won't get more in investments than the loan w/ interest factored in. My mortgage is 2.625%, heck no I ain't paying that down early. I'd happily pay down a 7% auto loan early/pay in cash, though.

Here's a calculator that you can play around with some numbers to see what the differences would be and where it would be wiser to put your fundages.

https://www.huntington.com/Personal.../budgeting-calculators/pay-off-debt-or-invest

Dave Ramsey is for the new college grad who doesn't know what an amortization table is. And for his target audience, he is really good. We had to sit through a mortgage seminar thing to qualify for our first home loan and the first half was explaining what a mortgage was. Granted, I actually did learn some stuff, and had some questions. The second half was "let's learn how to make a budget" alongside "that daily dunkin's run adds up, let me show you how much!"

 

I hope so, because mine say they are worth NOTHING

 

OCTO just traded 1.25X the float in the first 5 minutes of market open. Yep. Totally normal.