Quote (Epicexecution @ Oct 10 2017 09:11pm)
Did you say you used a financial advisor? I hope you're not paying them much, could get all that info from personal finance Reddit tbh lol. And not to be that guy, but if I had that kind of cash laying around, I would definitely be investing as opposed to pouring my money into a depreciating asset. I know you said you came into money, and I have no idea how much (not like it's my business), but I would personally continue living how you have been and pay off bills and then invest the rest of the money. Unless you've got buku money now, I bet you will regret dropping 150k on cars later down the line. Id personally focus on investing for retirement.
Shit my relatively conservative investments have netted me +20.3% returns so far this year, and my dividends have damn near canceled out any fees. 20% on 150k = 30k profit doing absolutely nothing. Just sayin lol
/EndPersonalOpinion
I won't get super in depth with our money situation, but I will say that a >5% spending on 2 cars isn't going to affect my outcome at all. I've already followed Dave Ramsey's 7 steps to being debt free, so we have 0 debt. So our equity is an asset alone, which is around 225,000. Our investments should put us in the high 7 digit range when we hit retirement age, and that doesn't include what I'm putting in separately from my own personal income.
The problem with new cars is you lose so much in the first 5 years.. But any car is going to depreciate. At the end of the day, what is important is if you can afford it.
This post was edited by ozzyarmy3 on Oct 10 2017 06:13pm