[Never-Enough]

Originally Posted by oulaw

If you got the GTR, call Kenny Tran @ Jotech Motorsports in Garland Texas. He has the fastest daily driver GTR in the country. The only faster GTRs are two track cars. He runs anywhere from high 700hp to low 900hp through the car and its a 10 second car. There is a Greddy setup for your car that will make over 700hp at the wheels. Tell him Aaron the attorney sent you.

700 WHP & only 10s out of them?

[Never-Enough]

Originally Posted by plague

I skimmed the thread. If he chooses to spend his money on a car, so be it. I understand ppl telling him to invest it differently but i suppose he didnt ask whether we thought it was a bad move or not. Also, toker.. Pretty cool that you never worked a 'real' job and do what you do from home like a your own little business man. Thats badass. SO. That aside. Toker, my 2 cents of opinion that you didnt ask for. GTR is a beast of a car, but id look at a porsche too. Have you considered a porsche? If you dont mind AT than the gtr i guess will do. But hell, with than much performance at your fingertips i wouldnt want to do it in any other way than in a Manual transmission. I still dont understand why they do this.

Then brush up on your car knowledge & you'll see why it's auto. I do also believe some Porsches only come in auto...

[kudos]

If he invested it in anything but a roth IRA than he would be probably losing money anyways in this economy.

Live your life because you never know when it will end. The only problem I see with this is that it's not going to build you any credit unless you're a co-signer which will suck down the line when you don't have a large purchase on your credit history.

Anyways, good luck with the car and please post pics.

[tibra1]

Originally Posted by Never-Enough

700 WHP & only 10s out of them?

AWD?

[BayMoWe335]

Originally Posted by e92addict

To all the "older and wiser" members here that are saying invest during youth so that you can have a greater return later in life...

...Please remember tomorrow is not promised to anyone.

I'm not saying don't save or invest at all, but you also can't be so dead set that you'll be living 20,30,40+ years for you or anyone in your will to use your investments.

Congrats to OP on enjoying life! You may or may not regret this later, but at least you'll have an experience that most will never have.

I love this argument. While what you say is 100% true, the harsh reality is that we have to go by basic statistical probability. Any life insurance actuary would show the likelihood a young person in good health WILL live to the average age of 78-80. This should be a cold reminder that being old and poor is probably the worst combination imaginable. Do not undersestimate the harshness of this statement. It's seems far away, but it could be a reality if you're not smart in your younger/working years. Granted, I am ultra-conservative with money, but the chances of you getting hit by a bus, getting murdered, or even dying in a car wreck are so low that you have to believe you'll live into your retirement years. It's a statistical fact most people do.

I'm certainly not saying to save every penny and invest 100%; I'm simply saying the opportunity to save a wad of cash at a very young age is not an opportunity many of us get. Ask any 40 year old who had to struggle through school, do shit work, and pay their entire way if they would jump at the chance to save/invest $1500/month when they didn't NEED the money.

The backpacking across Europe, sure! Going on a trip? Of course! Those are relatively small expenses, but a $75,000 car with expensive insurance, maintenance, and gas isn't the same as a trip to Europe. A car is a depreciating asset. I personally drive a 335i and go on several vacations per year. But that's not before I max an IRA, my 401k, and live below my means. It's a lifestyle.

My advice isn't fun or even logical to most people.

[El Cheapo Loco]

Originally Posted by plokij

Wishful thinking. They also used to say that home prices would always increase forever and ever back in 2007. Pfft. Don't believe the propaganda.

You don't seem to understand that real estate markets are very regional. There are locales that only dropped 10-15% since the peak of the bubble. You simply use the same rule for the entire country.

[Never-Enough]

Originally Posted by tibra1

AWD?

Thanks capt obvious. Another reason as to why it should be faster not only 10s

[tibra1]

^LOL @capt obvious

[tibra1]

This thread is cool..you got one set of people debating life expetancy and investment strategy..another who are arguing car performance..another who are just being douches..trifecta..

[Jns2001]

I was going to say, let's the haters hate, but I haven't seen a pretty pic of the GTR yet. I guess that he is enjoying the car right now.

[BayMoWe335]

Originally Posted by caradd

What's funny is all this talk about investing. Just because you invest does not automatically mean you will gain.

Everyone I know lost value in their 401k's:

During what period? I have made an absolute killing in my 401k over the last few years. The key is, keep buying all the way down and stay consistent. A lot of my investing doubled from the bottom and I doubled or tripled down at every 10% drop.

We haven't even talked about the number 1 cause of bankruptcy in America...health-realted expenses. Part of what he should have is health insurance unless he's still on his parent's.

Real Estate is a different story.

[BayMoWe335]

Originally Posted by kudos

If he invested it in anything but a roth IRA than he would be probably losing money anyways in this economy.

Live your life because you never know when it will end. The only problem I see with this is that it's not going to build you any credit unless you're a co-signer which will suck down the line when you don't have a large purchase on your credit history.

Anyways, good luck with the car and please post pics.

I have no idea what you're talking about and I suspect you might not either (not trying to be rude). A Roth IRA would do nothing to protect you from losing money. All a Roth does is take after tax dollars so the deductions you make after 59 1/2 are tax free...

There are plenty of opportunities in a difficult market, but it really doesn't matter for him since he could let it compound 40 years. No one knows what the market will look like tomorrow, let alone 40 years from now. Buy gold if you're that worried.

[Ahmad11]

PICS!!!!!

[BayMoWe335]

Originally Posted by tibra1

This thread is cool..you got one set of people debating life expetancy and investment strategy..another who are arguing car performance..another who are just being douches..trifecta..

Dude, it's free and good advice from a few folks here. The people saying congrats aren't really adding much besides stroking his ego.

I realize it feels like a cockblock, but I'm just throwing my opinion out there. Take it or leave it...people are going to do what they want to do and think what they want to think. That's why there are so many stupid people who still think it's the government's job to take care of us.

[John 070]

Originally Posted by BayMoWe335

I love this argument. While what you say is 100% true, the harsh reality is that we have to go by basic statistical probability. Any life insurance actuary would show the likelihood a young person in good health WILL live to the average age of 78-80. This should be a cold reminder that being old and poor is probably the worst combination imaginable. Do not undersestimate the harshness of this statement. It's seems far away, but it could be a reality if you're not smart in your younger/working years. Granted, I am ultra-conservative with money, but the chances of you getting hit by a bus, getting murdered, or even dying in a car wreck are so low that you have to believe you'll live into your retirement years. It's a statistical fact most people do.

I'm certainly not saying to save every penny and invest 100%; I'm simply saying the opportunity to save a wad of cash at a very young age is not an opportunity many of us get. Ask any 40 year old who had to struggle through school, do shit work, and pay their entire way if they would jump at the chance to save/invest $1500/month when they didn't NEED the money.

The backpacking across Europe, sure! Going on a trip? Of course! Those are relatively small expenses, but a $75,000 car with expensive insurance, maintenance, and gas isn't the same as a trip to Europe. A car is a depreciating asset. I personally drive a 335i and go on several vacations per year. But that's not before I max an IRA, my 401k, and live below my means. It's a lifestyle.

My advice isn't fun or even logical to most people.

I like how you mentioned probability. Much as we like to defy it, it's not easy. I think life is about balance, you have to have some plan. And it's not rocket science to see that most here cannot do a ROTH IRA, but nobody said not to save either.

I just think with money there will always be a compound effect either direction. Saving is not that easy, just that it must be done. Like I said, when I got a $1200 vet bill for my dog out of nowhere, what that meant to me was a) a $1200 amex charge to earn $12 in rewards b) $1200 coming out of savings to pay it on the next due date--that's $1200 that would have been sitting there in my savings earning next to nothing, but it's there for exactly these incidents

I always like to point out how life insurance cos. get you coming and going--on insurance, and on an annuity. Either way, you pay a mortality risk expense to cover them if they're wrong about when you live or die.

Living to extremes is why people sometimes on this forum get so bent out of shape when they pass out and oversleep on someone's couch, and then find a plate under their windshield wiper telling them to f this or that and scratches on their trunk because they took someone else's spot. Let's be honest, the typical 3 owner doesn't live like that.

It's probably you and me and people like us, until you've put 16.5 into your 401k and pay down your mortgage by an extra $xxx per month, drive a junk car, because a nice car is not a priority when your finances are not in order.

[BayMoWe335]

Originally Posted by John 070

I like how you mentioned probability. Much as we like to defy it, it's not easy. I think life is about balance, you have to have some plan. And it's not rocket science to see that most here cannot do a ROTH IRA, but nobody said not to save either.

I just think with money there will always be a compound effect either direction. Saving is not that easy, just that it must be done. Like I said, when I got a $1200 vet bill for my dog out of nowhere, what that meant to me was a) a $1200 amex charge to earn $12 in rewards b) $1200 coming out of savings to pay it on the next due date--that's $1200 that would have been sitting there in my savings earning next to nothing, but it's there for exactly these incidents

I always like to point out how life insurance cos. get you coming and going--on insurance, and on an annuity. Either way, you pay a mortality risk expense to cover them if they're wrong about when you live or die.

Living to extremes is why people sometimes on this forum get so bent out of shape when they pass out and oversleep on someone's couch, and then find a plate under their windshield wiper telling them to f this or that and scratches on their trunk because they took someone else's spot. Let's be honest, the typical 3 owner doesn't live like that.

It's probably you and me and people like us, until you've put 16.5 into your 401k and pay down your mortgage by an extra $xxx per month, drive a junk car, because a nice car is not a priority when your finances are not in order.

I can't personally contribute to my Roth anymore, but I suspect more than 50% (most) of the posters here make under the limits of $105,000 single or $167,000 jointly.

[jpirelli]

BayMoWe335, I for one appreciate your advice! Keep it coming. I'm learning a lot.

[Alpine419]

Originally Posted by Numark318i

fuck man. if i had 15k right now I would buy a shit condo, live in it. Rent out the other two rooms and add another $1000 to my monthly income.

THIS :thum sup:: thumsup::thums up:

probably one of the best ideas to do with your $$$ at such a young age

[statelax3]

Wow, I am glad my dad would not let me make a terrible decision like when I was 19. THANKS DAD! But then again I was in college playing ball and chasing panties. Buying a car like that was of zero interest. Good luck to the guy buying the GTR but I bet it will take less than a year to regret the decision. That is if he is really paying for it and not his parents.

[atown88]

I hate threads like this. It just reminds me of how much money I'm NOT making. Lol. When I get married, my wife will be the bread winner.

[Jns2001]

Is this a car forum or an investment one?

[kudos]

Originally Posted by Jns2001

Is this a car forum or an investment one?

It's a BMW forum so you have to expect this type of thing sadly.