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Originally Posted by truzoom INVEST the money. I think your car looks great now; heck it's an STi so you're already cooler/faster/whatever than most other cars on the road.
If you put that $12k into a 20 year Treasury Bond now, by the time your kids go off to college you'll be able to have most of their tuition payments ready.
Isn't it fun to think about the future?  |
The kids angle might not be the best approach; how about
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If you're 23 and invest $12k in a decent mutual fund earning you 10% compounded per year by the time you're 43 you'll have $80,730.00 give or take.
The only way I'd justify spending that kind of dough on a car like that is if you already have a nice nest egg stashed away. Take it from someone that's made that mistake (as I'm sure many of the older guys have). When I was 20-23 I was throwing away about $35,000 a year (a portion of my salary) on partying and 'fun' things, lived in a penthouse condo at the centre of downtown and was having a great time. What a waste.
Now I'm 27 and getting married just bought a house etc. But do I ever wish I had those three years and $100,000 back. I'm planning on starting my own company and that would have helped out big time (esp invested right).