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Old 09-17-2012, 06:00 PM   #21
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Join Date: Aug 2012
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Welcome young engineer. I'm married to an old engineer, and the mother of two young engineers, just about your age. One just graduated in May with a degree in Mining and Explosives, and I'm going to show him this post. I'm so impressed that you have the foresight to think about all this.

Keep up the good work - you're on the right track just for thinking about all this rather than just spending your new paychecks on anything & everything. Looking forward to seeing you post here!
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Old 09-17-2012, 07:51 PM   #22
Recycles dryer sheets
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Join Date: Nov 2009
Posts: 131
Originally Posted by young_eng View Post
As far as the car goes, not a great financial decision I know, but I'm glad it only cost me 19,000 to cure the new car fever that many people have. From here on out I plan on buying low mileage used vehicles, I'll chalk this one up to a 19,000 learning experience.!
I don't think you made a mistake on this. A few years ago I intended to follow conventional wisdom and buy a used car, but like Animorph said, I found that there was no great discount to be had (especially for high quality, fuel efficient cars). One with 75k miles would cost $18k while the same car would cost $21k brand new. As you will learn about investing, once an inefficiency in the market becomes known, people exploit it until it no longer exists. So I bought the new car for $21k, paid it off within six months, and have had no regrets. Cars are expensive, but $19k is much less expensive than most, and it will be a great value if you drive it for the next decade or so.

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Old 09-20-2012, 10:21 PM   #23
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Join Date: Sep 2010
Location: midwestern city
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Well I am not an engineer but just wanted to welcome you here.
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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