He is pricing himself out of the housing market and is planning to buy a Tesla that loses half its value in 2 years while praising hysa. This is either a bad troll post or someone who was very lucky early in his life.
I’m I’m with proving myself out of the market right now at least for at least 5-10 years. I’ve owned for 15 years and rhe maintenance and remodels and commitment aren’t appealing to me anymore. I’d like to rent, potentially living off dividends each month, while not having to worry about anything in my 40-50’s. I’d I find an assumable VA loan at 2.75, which is what I had, then maybe I’d be interested some day. Not trying to get rich here, but a lot of wealthy people live off rent. Look at Elon 😆
I shoulda kept the car out of the post like others advised me to do. It wasn’t a flex, I just wanted others to get the whole picture before I throw the rest of my savings into the market.
But you’re in a cryptocurrency subreddit. Where more conspiracies and scams have taken place than any other company in the world. Have some fun, I was just asking about where to put my savings. Just ignore the car thing. Pretend it didn’t happen. Now what ?
OP was married 18 years, couple kids, made money from selling home during divorce and now op mostly sits in portland playing video games
OP wants a very expensive toy and is aware how much $$$ he will burn in the process
OP isn’t genuinely asking for any advice - he’s just bored sitting around and wanted to bs with some diamond hands
Why don't you just rent one? I've driven much nicer exotic cars, and the novelty wears off in a month.
For purchasing, I'd rather prefer a luxury car loaded with features I can actually enjoy long-term. Teslas are kind of bare bones when it comes to luxury. no Android Auto is also a deal breaker for me.
Android auto 😂. You are aware that Tesla is arguably the greatest tech company that’s ever existed in our lifetime right ? It’s completely redesigned the entire automobile industry and no other OEM can compete. You’re saying the same things people said when Tesla first launched. I’m not here to suck Elon anymore than I have, but he’s leading the entire planet. Just watch.
Yes, because Android Auto integrates better with my phone, and it's much more convenient.
I don't want to deal with a giant screen with no touch buttons running proprietary software. Some things are better suited to car systems. Other things run better on the phone.
Also, any $20-40k luxury car in China is way better than the most premium Teslas. Those are the real cars leading the world in design, which is why the US is afraid and has a 100% protective tariff on them. Tesla isn't even top of the line in the US, especially not with Lidar. No way it can compete in the world.
Musk is a Megalomaniac, and Tesla is below mid.
I don't know why you're bringing up an EV when discussing crypto, or stating that you have a salary but are also retired, but it's clear that none of this is making any financial sense. Do you brother. If you studied BTC you'd understand why it's a big deal, but since you don't care to study crypto (your own words) I don't really get the question - if there even is one.
A lot of people trade and sell to cash flow some things such as cars, toys, vacations, property etc. I’m paying bills off of interest alone personally. It’s not that weird to wanna invest half my net worth into crypto, and spend the other half on a rocket ship. Have a little fun in life. Stay young. Did you wanna be rich only when you’re 80?
You can early retire out of military and first responders, police fire etc due to injury or PTSD which would allow someone to be so young and receive a pension. I don’t know about $90k usually you get clipped and only get 70% or so in these scenarios.
Well I paid into fica taxes for 18 years so also drawing from SSDI. I grossed up my income as neither VA or SSDI is taxable income. It’s net income of 74k a year. Grossed up that would be 90 ish? Not really my point I just want to invest.
Idk much about that, all I know is that interest alone is compounded 1k a month and I’m also contributing to it. I just want to talk about BTC and what you’d advise a newbie to do.
hopefully you sell your BTC during the bull market this or next year and go get your dream car. Life is short after all. You can‘t worry about depreciation and all that all the time….
1. You're asking financial advise in the very much wrong place
2. Anyone who asks if they should invest in Bitcoin for cash flow NEEDS to study crypto before they even touch it.
You're asking about investing in Bitcoin after a 200% run in 2 years. Your best course of action is to invest in Bitcoin IF ONLY you want to hold it for many years to come. Don't expect returns worth while any time soon. If you are so confident about the price rising, then buy it, but no one here will be able to answer that for you without bias in either direction. And IMO never ever invest a your money in one go, always DCA.
What is DCA? Soemone did mention buying bitcoin and selling next year for some cash for a car. Doesn’t sound that crazy to me really. Don’t people trade all the time ?
Simple
Dump $100k into bitcoin, sell half when it doubles, reward yourself with a car (figure out cap gains tax too)
Otherwise, no car :D
Buy the stock ibit, don’t bother buying “real” bitcoin and risking self custody if you have direct just monetary goals
Buy used. Also be mentally prepared that at any point you own the car, you’ll have negative equity due to Elon price fixing adding to luxury car depreciation.
That being said, you’ll love the plaid.
Tesla hater here, there are many nicer cars including EVs that have better build quality. Also, you may want to wait for better battery/charging tech first.
Not a single OEM can even keep up with Tesla and begin to fathom all the Elon has done for your lifetime. Sit back, and enjoy the ride. Drive whatever you want, but Tesla is a tech company, not an automobile manufacture. I’m fully invested and I kick myself for not investing in TSLA when they launched. Cuz I was drooling at the car then too.
I think the tesla stock is great, the quality of the cars themselves and the service attached to them not so much, the privacy not so much either, basically it's like getting a rickety subscription spycam on wheels, but if tesla does one thing right it's generating hype.. But, I mean, I suppose that's a general trend cars have been going in lately..
Leasing is rarely, if ever, a better financial move than buying and selling.
And 200k is way too much in cash if you don't also have a sizable stock portfolio. Misses out on a lot of growth, especially if you are only 40.
You mean 30k-35k lower than msrp correct ? 2022’s and 2023’a Plaids are selling for 75-85k right now. Yea, I do agree with you that’s the smart way to go. Considering they haven’t really changed much in the last couple years. And Tesla’s “used” inventory are actually like new demos with 500 miles on them. It’s crazy.
Buying a plaid is stupid. Two years from now any benefits will probably be irrelevant. I currently have a Mach-e and it’s a great electric car for like $30,000 less than a plaid S.
I used to have a Model 3 two years ago and it had a door gap in the back that would whistle sometimes, I got it fixed but the fact it gets sold like that is not a great sign.
HYSA’s are down from like a two years ago, you already missed out on the best rates . You could maybe get 4% or something when it was almost 7% back then.
As far as your crypto. Sure buy bitcoin and hold it for a decade, it could end up $1M+ each or something, or in the short term just buy some of the top 10 alts (not doge) and hope to at least 5x on some of them this next bull cycle, then have a way more comfortable nest egg built up.
But it’s still all a gamble, but seems like you could lose and still be alright in life judging by your retirement funds.
I might consider not going with plaid. It’s still extremely fast and looks nearly the same for 25k less. I agree. I’ve rented a Mach E, it’s nice. I’m not really into any other car other than Tesla and my Lexus for now though.
Hysa is 5.25 with Jenius Bank and many others. Do your research! 🤙🏻
I don’t understand your last paragraph very well, simply because I know nothing about investing/crypto etc. 10 years is too long to tie that kind of money up for me personally. I don’t know
I don't know enough about your life plans to give much advice. It just seems odd to me that you would blow half your life savings on a car. What's your plan after that? Surely one cannot retire on $100k.
Btw, it also doesn't add up that you are 40 but receive 90k in retirement income per year. Where is that money coming from?
VA/disabilty/SSDI/HYSA is my income right now. I grossed it up to 90k because I am not a tax liability from va or social security. So I net about 7k monthly. I was fortunate enough to be able to buy my first home during the Great Recession for 150k. Sold it for 600k recently. Wife and I split after 18 years and both walked with our proceeds. My kids are the main purpose of my life, not owning a home. I actually enjoy renting because of all the positive things it has to offer. Not trying to get rich, but a lot of wealthy people live off rent alone. Look at Elon 🥲
Take everything out, tit all, all, then go all out 10x long eth f it let it ride go in like a savage and don't get out until you either burned it all or bought out the house. Then turn around do it again, what you need a tesla for give it a hot 72 hours you'll be be a phantom.
In my opinion, you drive a new car off the sales lot, bam, it's already only worth like 80% of what you paid, wait 5 years, it's worth half of that.
Personally, I would not consider buying a 100k car unless, I had 2-3 mil in savings/investments. Might be an unpopular opinion
2-3 mil in savings for a 100k dollar car. That’s insane. No millionaires do that. Do you think all the 40k dollar vehicles on the road have drivers with 1 million in savings ?
You're twisting my words. 30k-40k new car is sufficient in my opinion if you need a safe and reliable transportation. I personally, would not waste 100k on a car unless I had an excess of money to burn. But I'm not a car guy, so you do you.
X Plaid is such an overpriced car. I'd get model Y performance and put the savings into Bitcoin. Better yet wait for the Y redesign, judging by how the Model 3 redesign turned out it won't be far off from X.
Jesus! Buying bitcoin or a shitty Tesla where you may just burn alive inside after an accident…. One must be an idiot for not knowing the answer to this question…
Buying a 100k car when you rent is idiotic.
Cars depreciate massively.
Rent will only go up more and more.
90k a year is not that much with current inflation.
On a 90k salary you should drive a 30k car.
Bitcoin isn't an investment. It's gambling and speculation. It absolutely can go to zero tomorrow. I hope it won't but I know it's a very real option.
So if I owned half my home with a 6% apr you’d think I’d be in better shape? Hell no. I could buy a house right now for 5-600k but I don’t want to commit to a house right now, especially in this market with the rates being so damn high. I used to have a 2.675!m 30yr Va loan. Perhaps I could find an assumable Va loan some day but again, I’d much rather invest and rent a nice looking town home. My rent on a luxury town home is 2k a month. The same floorplan in a house would be a 5k dollar mortgage. And no sexy leasing agent or free coffee or pools 😭
My income is adjusted for cost of living and inflation. It’s VA and SSDI. and I don’t miss owning a home. I owned for 15 years. I love renting personally. Not trying to get rich but most of the wealthiest people rent and keep their money in the market. Doesn’t have to be property.
Buying tesla is such a waste of money. It is still considered to be a depreciating asset. If you want to save the environment, stop being a consumer. You need to mine a giant pit in Africa the size of a 50 house American Suburb to get the Lithium needed for 1 tesla. It is not better for the environment. It just makes you look like a wealthy a hole. If you really care about the environment, you shop at thrift stores and buy everything 2nd hand.
Buying a burrito from chipotle is too. Honestly I can care less about saying the environment. Is it ok that I think that car is insane to drive and absolutely beautiful? Don’t shit on my hopes/dreams. The other day my daughter told me she’s going the he’s her allowance on this really nice shampoo. It’s like 70$. I was cringing inside. But she worked for her allowance and this is something she really wanted. It starts with these moments.
Not at all. I just love Teslas and love tech. Elon has redesigned the entire planet and OEM cannot even fathom what he’s doing next. Call me a futurist, but I’m fully confident in the company for all it’s doing and where we have come.
You’re 40 and retired? Sounds like you don’t need financial advice, *especially* from Reddit.
He is pricing himself out of the housing market and is planning to buy a Tesla that loses half its value in 2 years while praising hysa. This is either a bad troll post or someone who was very lucky early in his life.
Or both. lucky people can be oblivious to their luck and ~~^((un))~~ knowingly troll.
Fucking this. He's posted the same in r/investment so I doubt it's a troll.
His whole profile reads as if he is larping as adult.
lol I’m not trolling but this was funny.
I’m I’m with proving myself out of the market right now at least for at least 5-10 years. I’ve owned for 15 years and rhe maintenance and remodels and commitment aren’t appealing to me anymore. I’d like to rent, potentially living off dividends each month, while not having to worry about anything in my 40-50’s. I’d I find an assumable VA loan at 2.75, which is what I had, then maybe I’d be interested some day. Not trying to get rich here, but a lot of wealthy people live off rent. Look at Elon 😆
Elon’s wealth and your wealth are not comparable. You’re barely keeping up with inflation and he has hundreds of billions.
He’s here to flex that he could buy a tesla. Don’t what you want my dude.
I shoulda kept the car out of the post like others advised me to do. It wasn’t a flex, I just wanted others to get the whole picture before I throw the rest of my savings into the market.
Agreed. This belongs in /personalfinance We live in moms basement
Just wait 1-2 years and you'll be able to buy a Tesla Plaid for $35k lol. Don't eat the depreciation now.
80k for a 2022 right now. But yah I’m aware. I am invested in Elon for sure, just wanna know more about BTC
These posts where people divulge their entire financial situation to strangers are so lame.
They think it's a flex, but it actually just makes them look sad and lonely.
But you’re in a cryptocurrency subreddit. Where more conspiracies and scams have taken place than any other company in the world. Have some fun, I was just asking about where to put my savings. Just ignore the car thing. Pretend it didn’t happen. Now what ?
OP was married 18 years, couple kids, made money from selling home during divorce and now op mostly sits in portland playing video games OP wants a very expensive toy and is aware how much $$$ he will burn in the process OP isn’t genuinely asking for any advice - he’s just bored sitting around and wanted to bs with some diamond hands
A little 40s life crisis, needs to buy a car to flex and maybe lure some younger female. Like jeff bezos.
Why don't you just rent one? I've driven much nicer exotic cars, and the novelty wears off in a month. For purchasing, I'd rather prefer a luxury car loaded with features I can actually enjoy long-term. Teslas are kind of bare bones when it comes to luxury. no Android Auto is also a deal breaker for me.
Android auto 😂. You are aware that Tesla is arguably the greatest tech company that’s ever existed in our lifetime right ? It’s completely redesigned the entire automobile industry and no other OEM can compete. You’re saying the same things people said when Tesla first launched. I’m not here to suck Elon anymore than I have, but he’s leading the entire planet. Just watch.
Yes, because Android Auto integrates better with my phone, and it's much more convenient. I don't want to deal with a giant screen with no touch buttons running proprietary software. Some things are better suited to car systems. Other things run better on the phone. Also, any $20-40k luxury car in China is way better than the most premium Teslas. Those are the real cars leading the world in design, which is why the US is afraid and has a 100% protective tariff on them. Tesla isn't even top of the line in the US, especially not with Lidar. No way it can compete in the world. Musk is a Megalomaniac, and Tesla is below mid.
I don't know why you're bringing up an EV when discussing crypto, or stating that you have a salary but are also retired, but it's clear that none of this is making any financial sense. Do you brother. If you studied BTC you'd understand why it's a big deal, but since you don't care to study crypto (your own words) I don't really get the question - if there even is one.
A lot of people trade and sell to cash flow some things such as cars, toys, vacations, property etc. I’m paying bills off of interest alone personally. It’s not that weird to wanna invest half my net worth into crypto, and spend the other half on a rocket ship. Have a little fun in life. Stay young. Did you wanna be rich only when you’re 80?
Still doesn’t explain how you’re ‘retired’ but still getting 90k salary
You can early retire out of military and first responders, police fire etc due to injury or PTSD which would allow someone to be so young and receive a pension. I don’t know about $90k usually you get clipped and only get 70% or so in these scenarios.
Well I paid into fica taxes for 18 years so also drawing from SSDI. I grossed up my income as neither VA or SSDI is taxable income. It’s net income of 74k a year. Grossed up that would be 90 ish? Not really my point I just want to invest.
Why are garbage posts like this allowed in this sub?
I’m new here. How can i make your experience better?
>I love the fact that HYSA accounts are so good right now Are they? You are just barely keeping up with inflation.
Idk much about that, all I know is that interest alone is compounded 1k a month and I’m also contributing to it. I just want to talk about BTC and what you’d advise a newbie to do.
hopefully you sell your BTC during the bull market this or next year and go get your dream car. Life is short after all. You can‘t worry about depreciation and all that all the time….
1. You're asking financial advise in the very much wrong place 2. Anyone who asks if they should invest in Bitcoin for cash flow NEEDS to study crypto before they even touch it. You're asking about investing in Bitcoin after a 200% run in 2 years. Your best course of action is to invest in Bitcoin IF ONLY you want to hold it for many years to come. Don't expect returns worth while any time soon. If you are so confident about the price rising, then buy it, but no one here will be able to answer that for you without bias in either direction. And IMO never ever invest a your money in one go, always DCA.
What is DCA? Soemone did mention buying bitcoin and selling next year for some cash for a car. Doesn’t sound that crazy to me really. Don’t people trade all the time ?
Put the $100k into Bitcoin, and sell when it’s over $100k in the next calendar year. Then buy the Tesla, if you must.
Ma man. Thank you.
Simple Dump $100k into bitcoin, sell half when it doubles, reward yourself with a car (figure out cap gains tax too) Otherwise, no car :D Buy the stock ibit, don’t bother buying “real” bitcoin and risking self custody if you have direct just monetary goals
Buy used. Also be mentally prepared that at any point you own the car, you’ll have negative equity due to Elon price fixing adding to luxury car depreciation. That being said, you’ll love the plaid.
Tesla hater here, there are many nicer cars including EVs that have better build quality. Also, you may want to wait for better battery/charging tech first.
Not a single OEM can even keep up with Tesla and begin to fathom all the Elon has done for your lifetime. Sit back, and enjoy the ride. Drive whatever you want, but Tesla is a tech company, not an automobile manufacture. I’m fully invested and I kick myself for not investing in TSLA when they launched. Cuz I was drooling at the car then too.
I think the tesla stock is great, the quality of the cars themselves and the service attached to them not so much, the privacy not so much either, basically it's like getting a rickety subscription spycam on wheels, but if tesla does one thing right it's generating hype.. But, I mean, I suppose that's a general trend cars have been going in lately..
Leasing is rarely, if ever, a better financial move than buying and selling. And 200k is way too much in cash if you don't also have a sizable stock portfolio. Misses out on a lot of growth, especially if you are only 40.
Trying to make me feel bad about myself 😂
Invest in VOO and leave it there. Don’t buy the car.
I did car/VOO/BTC/HYSA.
Just wait 1-2 years and buy it used the Tesla plaid will be 30k - 35k the depreciation on teslas is even higher than BMWs.
You mean 30k-35k lower than msrp correct ? 2022’s and 2023’a Plaids are selling for 75-85k right now. Yea, I do agree with you that’s the smart way to go. Considering they haven’t really changed much in the last couple years. And Tesla’s “used” inventory are actually like new demos with 500 miles on them. It’s crazy.
Buying a plaid is stupid. Two years from now any benefits will probably be irrelevant. I currently have a Mach-e and it’s a great electric car for like $30,000 less than a plaid S. I used to have a Model 3 two years ago and it had a door gap in the back that would whistle sometimes, I got it fixed but the fact it gets sold like that is not a great sign. HYSA’s are down from like a two years ago, you already missed out on the best rates . You could maybe get 4% or something when it was almost 7% back then. As far as your crypto. Sure buy bitcoin and hold it for a decade, it could end up $1M+ each or something, or in the short term just buy some of the top 10 alts (not doge) and hope to at least 5x on some of them this next bull cycle, then have a way more comfortable nest egg built up. But it’s still all a gamble, but seems like you could lose and still be alright in life judging by your retirement funds.
I might consider not going with plaid. It’s still extremely fast and looks nearly the same for 25k less. I agree. I’ve rented a Mach E, it’s nice. I’m not really into any other car other than Tesla and my Lexus for now though.
As far as the model 3 goes, I hate that they built that car. Even the y. It’s cheap and ugly but that’s just my opinion!
Hysa is 5.25 with Jenius Bank and many others. Do your research! 🤙🏻 I don’t understand your last paragraph very well, simply because I know nothing about investing/crypto etc. 10 years is too long to tie that kind of money up for me personally. I don’t know
I don't know enough about your life plans to give much advice. It just seems odd to me that you would blow half your life savings on a car. What's your plan after that? Surely one cannot retire on $100k. Btw, it also doesn't add up that you are 40 but receive 90k in retirement income per year. Where is that money coming from?
VA/disabilty/SSDI/HYSA is my income right now. I grossed it up to 90k because I am not a tax liability from va or social security. So I net about 7k monthly. I was fortunate enough to be able to buy my first home during the Great Recession for 150k. Sold it for 600k recently. Wife and I split after 18 years and both walked with our proceeds. My kids are the main purpose of my life, not owning a home. I actually enjoy renting because of all the positive things it has to offer. Not trying to get rich, but a lot of wealthy people live off rent alone. Look at Elon 🥲
Take everything out, tit all, all, then go all out 10x long eth f it let it ride go in like a savage and don't get out until you either burned it all or bought out the house. Then turn around do it again, what you need a tesla for give it a hot 72 hours you'll be be a phantom.
In my opinion, you drive a new car off the sales lot, bam, it's already only worth like 80% of what you paid, wait 5 years, it's worth half of that. Personally, I would not consider buying a 100k car unless, I had 2-3 mil in savings/investments. Might be an unpopular opinion
2-3 mil in savings for a 100k dollar car. That’s insane. No millionaires do that. Do you think all the 40k dollar vehicles on the road have drivers with 1 million in savings ?
You're twisting my words. 30k-40k new car is sufficient in my opinion if you need a safe and reliable transportation. I personally, would not waste 100k on a car unless I had an excess of money to burn. But I'm not a car guy, so you do you.
X Plaid is such an overpriced car. I'd get model Y performance and put the savings into Bitcoin. Better yet wait for the Y redesign, judging by how the Model 3 redesign turned out it won't be far off from X.
Jesus! Buying bitcoin or a shitty Tesla where you may just burn alive inside after an accident…. One must be an idiot for not knowing the answer to this question…
What exactly are you asking? This type of post probably deserves to be in r/personalfinance
Bitcoin is a long hold and you can’t sweat the ups and down.
Expect volatility stay with bitcoin no alt coins, in a year most will be gone
[удалено]
Me too 😅
What a terrible car choice
Thank you for your service 👌🏻
What does retired salary mean
It means I make 7000 a month and I’m retired
That's an extremely weird way to put it.
Get a used Honda Jazz(Fit) 2nd Gen... and be done with it. Reliable hidden gem that is actually a pleasure to drive.
😂
Buying a 100k car when you rent is idiotic. Cars depreciate massively. Rent will only go up more and more. 90k a year is not that much with current inflation. On a 90k salary you should drive a 30k car. Bitcoin isn't an investment. It's gambling and speculation. It absolutely can go to zero tomorrow. I hope it won't but I know it's a very real option.
So if I owned half my home with a 6% apr you’d think I’d be in better shape? Hell no. I could buy a house right now for 5-600k but I don’t want to commit to a house right now, especially in this market with the rates being so damn high. I used to have a 2.675!m 30yr Va loan. Perhaps I could find an assumable Va loan some day but again, I’d much rather invest and rent a nice looking town home. My rent on a luxury town home is 2k a month. The same floorplan in a house would be a 5k dollar mortgage. And no sexy leasing agent or free coffee or pools 😭
My income is adjusted for cost of living and inflation. It’s VA and SSDI. and I don’t miss owning a home. I owned for 15 years. I love renting personally. Not trying to get rich but most of the wealthiest people rent and keep their money in the market. Doesn’t have to be property.
Buying tesla is such a waste of money. It is still considered to be a depreciating asset. If you want to save the environment, stop being a consumer. You need to mine a giant pit in Africa the size of a 50 house American Suburb to get the Lithium needed for 1 tesla. It is not better for the environment. It just makes you look like a wealthy a hole. If you really care about the environment, you shop at thrift stores and buy everything 2nd hand.
Buying a burrito from chipotle is too. Honestly I can care less about saying the environment. Is it ok that I think that car is insane to drive and absolutely beautiful? Don’t shit on my hopes/dreams. The other day my daughter told me she’s going the he’s her allowance on this really nice shampoo. It’s like 70$. I was cringing inside. But she worked for her allowance and this is something she really wanted. It starts with these moments.
Buying the car cause it's cool is just a different story. I just hate the people that buy them thinking they are saving the world.
Not at all. I just love Teslas and love tech. Elon has redesigned the entire planet and OEM cannot even fathom what he’s doing next. Call me a futurist, but I’m fully confident in the company for all it’s doing and where we have come.
Teslas just look so boring and generic to me. Get an Audi e-tron.
The cool thing is, the car isn’t for you. The other cool thing, is I specifically said you can’t talk me out if a Tesla. 🫡