Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 07-25-2010, 04:08 PM   #101
Thinks s/he gets paid by the post
Keim's Avatar
 
Join Date: Feb 2007
Location: Moscow
Posts: 1,128
Quote:
Originally Posted by Milton View Post
Ouch! Wrong Moscow, though. I'm more likely to run off a twisty mountain road or hit an elk in the road.
__________________

__________________
You can't enlighten the unconscious.
But you can hit'em upside the head a few times to make sure they are really out...
Keim is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 07-25-2010, 05:48 PM   #102
Recycles dryer sheets
 
Join Date: May 2005
Posts: 438
Invest first, spending your remaining income mostly as desired. If a BMW is part of your fantasy life, then get it. But invest first.

Heck, I know a guy with 21 Oldsmobiles circa 1963-1973.
__________________

__________________
rmark is offline   Reply With Quote
Old 07-25-2010, 06:19 PM   #103
Full time employment: Posting here.
 
Join Date: Oct 2009
Posts: 943
Quote:
Originally Posted by Milton View Post
Lars, since you appreciate engine noise here is another video clip you might enjoy: It features the sounds of a couple of (inverted) V12s: a 1,300 hp RR Merlin 224 and a 1,100 hp DB601A.
Milton,

Perfect example of another category of "get it" or not. I'm not a plane buff, but I can appreciate how someone would mortgage their house (albeit a very expensive house) to own something like an old Hurricane or a Mustang P-51...

Thanks for the vid...
__________________
LARS is offline   Reply With Quote
Old 07-26-2010, 03:19 PM   #104
Thinks s/he gets paid by the post
Bimmerbill's Avatar
 
Join Date: Jan 2006
Posts: 1,631
I'd love a P-51. I also like the P-38. Must be leftover from all that childhood model building. I wanted to be a pilot until I got too tall, and discovered I get motion sick at the drop of a hat.
__________________
Bimmerbill is offline   Reply With Quote
Old 07-26-2010, 07:27 PM   #105
Recycles dryer sheets
 
Join Date: May 2005
Posts: 438
I push aside your puny fighter planes, because what I want

Home

With two packard v-12 engines.

And my dad's in Korea

http://6745989255524894900-a-1802744...attredirects=0

Actually the one at the top was primarily restored by one of my dad's crewmates from back then.
__________________
rmark is offline   Reply With Quote
Old 07-26-2010, 08:03 PM   #106
Full time employment: Posting here.
 
Join Date: Sep 2007
Posts: 514
Quote:
Originally Posted by usafLT View Post
I'm getting side tracked. I have wanted to own a certain type of car for years now and I am now at the point in which between my trade in value and low interest loan, I can get it for about $250 per month. I have dreamed of owning one of these for years (did I mention that). It is used but in great condition (30k miles).
You should definitely buy this car.

For the first few months, it will be exactly what you dreamed it would be. You'll love the way it drives, and you'll feel like a rock star.

After a few years, you'll start getting sick of making car payments. You'll start having maintenance issues. You'll notice your shiny BMW isn't turning heads like it used to, now that the roads are full of people driving newer models. You'll look into trading it in for a new, more reliable model, and you'll be stunned at how much it's depreciated in just a few years.

In buying this car, you'll learn a lot of very important lessons about debt, status symbols, consumerism, and cars. Lessons that I could tell you right now, but you wouldn't believe me. You'll learn the lessons much more effectively if you go ahead and make the mistakes yourself. All told, you're going to waste a few thousand dollars on this car, and in the grand scheme of things, that's pretty cheap tuition for learning these kinds of lessons so early in your life. The experience you gain from financing a used BMW will shape your outlook on cars and debt and will save you a fortune in the future. The lessons will serve you well for the rest of your life.

Buy the car. Learn the lessons well.
__________________
kombat is offline   Reply With Quote
Old 07-26-2010, 08:12 PM   #107
Full time employment: Posting here.
 
Join Date: Oct 2009
Posts: 943
Quote:
Originally Posted by kombat View Post
In buying this car, you'll learn a lot of very important lessons about debt, status symbols, consumerism, and cars. Lessons that I could tell you right now, but you wouldn't believe me. You'll learn the lessons much more effectively if you go ahead and make the mistakes yourself. All told, you're going to waste a few thousand dollars on this car, and in the grand scheme of things, that's pretty cheap tuition for learning these kinds of lessons so early in your life. The experience you gain from financing a used BMW will shape your outlook on cars and debt and will save you a fortune in the future. The lessons will serve you well for the rest of your life.

Buy the car. Learn the lessons well.
Bit holier than thou don't you think...

I guess I'll need to learn your lessons times two as I own two BMWs. Can't even contemplate the lessons I didn't absorb from owning Ferraris and Porsches and other assorted sports cars of the years.

Oh well...
__________________
LARS is offline   Reply With Quote
Old 07-26-2010, 08:26 PM   #108
Full time employment: Posting here.
 
Join Date: Sep 2007
Posts: 514
Quote:
Originally Posted by LARS View Post
Bit holier than thou don't you think.
Just writing from experience.

The first car I ever owned was a brand-new VW Jetta with a bunch of upgrades. I bought it about 6 months after I started my first job after university. It was a ton of fun. The monthly payments were $656/month, for 5 years. Ignoring the finicky maintenance issues, it got rear-ended and totaled with 2 payments left.

We replaced it with a used Passat. It cost us $4,000 in repairs in a single year. So, needless to say, I'm done with German cars.

The amount of money I spent on cars in the first 6 years of my career makes my head spin.

Quote:
Originally Posted by LARS View Post
I guess I'll need to learn your lessons times two as I own two BMWs. Can't even contemplate the lessons I didn't absorb from owning Ferraris and Porsches and other assorted sports cars of the years.
Hey, if you're already FI, then more power to you. Knock yourself out. That's what money's for. No sense in being the richest corpse in the graveyard.

But giving in to such indulgences at such a young age can seriously handicap one's ability to build a substantial retirement nest egg. Blowing tens of thousands of dollars on a series of status-symbol cars during one's 20's and 30's translates to hundreds of thousands of dollars in foregone retirement capital.
__________________
kombat is offline   Reply With Quote
Old 07-26-2010, 09:17 PM   #109
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,387
Quote:
Originally Posted by LARS View Post
Bit holier than thou don't you think...
Of course, but that's what we do best around here.

Telling a man who likes cars that he should just buy a used Accord is like telling a woman who likes clothes that she could just as well cover her nakedness with stuff from Value Village.

In both cases, the point is being missed.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 07-27-2010, 09:16 AM   #110
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,079
Quote:
Originally Posted by kombat View Post
Hey, if you're already FI, then more power to you. Knock yourself out. That's what money's for. No sense in being the richest corpse in the graveyard.

But giving in to such indulgences at such a young age can seriously handicap one's ability to build a substantial retirement nest egg. Blowing tens of thousands of dollars on a series of status-symbol cars during one's 20's and 30's translates to hundreds of thousands of dollars in foregone retirement capital.
No argument from me, on either point.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 07-27-2010, 10:39 AM   #111
Full time employment: Posting here.
 
Join Date: Oct 2009
Posts: 943
Quote:
Originally Posted by Milton View Post
No argument from me, on either point.
Everything in moderation. ER is a worthwhile goal, but not IMHO if you have to sacrifice all to achieve it. What is the point of that?

The OP said the car is a real desire he has had, and assuming it isn't one of ten all of which he intends to indulge, there is nothing wrong with it. If a modestly expensive car is the difference between achieving ER and not, then the odds are stacked against success anyway.

They say youth is wasted on the young: advise to forgo a targeted pleasure in the hopes of ER (which may or may not happen) ensures the statement will be correct.
__________________
LARS is offline   Reply With Quote
Old 07-27-2010, 10:51 AM   #112
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,149
Interesting. The OP hasn't posted for more than a month or logged on to the forum for the past three weeks, yet 111 posts later his bad/good decision question is still being debated. He's moved on and we haven't.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 07-27-2010, 11:03 AM   #113
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
Keeps the crowd's mind off of politics.
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 07-27-2010, 12:11 PM   #114
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,291
Quote:
Originally Posted by haha View Post
Of course, but that's what we do best around here.

Telling a man who likes cars that he should just buy a used Accord is like telling a woman who likes clothes that she could just as well cover her nakedness with stuff from Value Village.

In both cases, the point is being missed.

Ha

Ha.... I have to say you have been coming up with some very good post lately... better than usual... thanks..
__________________
Texas Proud is offline   Reply With Quote
Old 07-27-2010, 12:12 PM   #115
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,291
Quote:
Originally Posted by REWahoo View Post
Interesting. The OP hasn't posted for more than a month or logged on to the forum for the past three weeks, yet 111 posts later his bad/good decision question is still being debated. He's moved on and we haven't.

He probably has alread bought the car and is driving it around.... YOUTH...
__________________
Texas Proud is offline   Reply With Quote
Old 07-27-2010, 05:02 PM   #116
Thinks s/he gets paid by the post
Milton's Avatar
 
Join Date: Apr 2007
Posts: 2,079
Quote:
Originally Posted by LARS View Post
The OP said the car is a real desire he has had, and assuming it isn't one of ten all of which he intends to indulge, there is nothing wrong with it. If a modestly expensive car is the difference between achieving ER and not, then the odds are stacked against success anyway.
True enough.

On the other hand, he also suggested that he was "getting side tracked", that the car might be a "bad decision", and that he was "looking for a reality check here".

Now that the pros and cons have been thoroughly canvassed, I hope that he will return to advise us regarding his decision.
__________________
"To know what you prefer, instead of humbly saying Amen to what the world tells you you ought to prefer, is to have kept your soul alive". Robert Louis Stevenson, An Inland Voyage (1878)
Milton is offline   Reply With Quote
Old 07-27-2010, 06:30 PM   #117
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
HFWR's Avatar
 
Join Date: May 2005
Location: Lawn chair in Texas
Posts: 12,964
Quote:
Originally Posted by haha View Post
Of course, but that's what we do best around here.

Telling a man who likes cars that he should just buy a used Accord is like telling a woman who likes clothes that she could just as well cover her nakedness with stuff from Value Village.

In both cases, the point is being missed.

Ha
The point being does the guy want to get laid or not...
__________________
Have Funds, Will Retire

...not doing anything of true substance...
HFWR is offline   Reply With Quote
Old 07-27-2010, 06:36 PM   #118
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,620
Quote:
Originally Posted by REWahoo View Post
Interesting. The OP hasn't posted for more than a month or logged on to the forum for the past three weeks, yet 111 posts later his bad/good decision question is still being debated. He's moved on and we haven't.
Apparently the debate is much more interesting than the OP's opinions or actions.

I'm hoping we get a couple new posters to ask for opinions on mortgages, actively-managed mutual funds, the third significant digit of SWR, and whatever other pet peeves the rest of the membership has about how new posters are treated.
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 07-27-2010, 06:39 PM   #119
Thinks s/he gets paid by the post
 
Join Date: Nov 2005
Location: North of Montana
Posts: 2,753
Quote:
Originally Posted by Bimmerbill View Post
I'd love a P-51. I also like the P-38. Must be leftover from all that childhood model building. I wanted to be a pilot until I got too tall, and discovered I get motion sick at the drop of a hat.
If you can't have the plane, build the car.
http://www.jalopyjournal.com/forum/s...d.php?t=388732
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
kumquat is offline   Reply With Quote
Old 07-27-2010, 06:46 PM   #120
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
That is one cool car. Have no money, willing to sacrifice left testicle.
__________________

__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
USPS, bad weather, bad luck, or 3rd world service? A long rant MJ Other topics 20 03-03-2010 10:42 PM
Big Decision sailwc Hi, I am... 16 01-12-2009 12:38 PM
Ive Been a Bad Bad Boy MXR Dad Hi, I am... 25 07-17-2008 11:15 PM
have to make a decision... slj455 FIRE and Money 3 12-03-2005 06:58 PM

 

 
All times are GMT -6. The time now is 02:37 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.