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Hey /biz/, I'm finding myself in an interesting place, and I'll try my best from making this sound too cliche.
I'm not rich by any mean, (50k/yr'er), but I started putting money into stock a few months ago and at the moment, I'm up 1k. Now, for me anyways, 1k of free money for doing nothing but look at numbers in the morning is pretty nice. I'm literally emptying out my bank account and throwing all of my money into the stock market, after all the bills are paid off of course.
The problem arises when I actually want to spend the money on something. In about 2 years, I plan to buy a 30k car. I'm not asking whether or not I should buy the car. I'm asking: how should I, or how do you feel about spending the money now knowing you've definitively reduced your eventual net worst (20+ years from now) by several hundred thousand dollars (if you would have taken that money and instead invest it)?
Basically, I can spend it now and get a car.
Or, I can continue driving my old car, invest the money, and in 5 years, get a much better car.
Or, I can keep continuing to drive my old car, keep investing the money and in 10 years, I'll buy a boat or something.
And so on.
I feel like I'm falling into some kind of trap. How have other people handled this dilemma?
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>>1435508
> How have other people handled this dilemma?
self control
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>>1435508
Do what you want.
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>>1435508
I wouldn't buy a car as long as your current car has a decent look and can get you on the road. Keep investing it and if your car broke down in the future you can buy a new one and even have something left
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bumping for interest
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>>1435651
Thanks for the bump. I'm just going to bump this once in case anyone else has anything to contribute.
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Why the fuck would you spend 30k on a car when your current one works fine?
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Lol its called opportunity cost
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>>1437103
Because it'll be new, electric and basically 25% off.
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>>1435508
>in about 2 years I plan to buy a 30K car
STOP STOP
The truth is that you need to hold off on luxuries until you can cover base living expenses with your income.
For example, if it costs 1.5K/month to cover minimum living expenses in your area, you need to accumulate enough assets such that you can quit your job and have enough to live.
That means 18K/year of income. If you withdraw 4% of the value of that fund, that means you need 450K+ of income generating assets (stocks and bonds) to cover living expenses indefinitely.
That being said, work like a Jew as much as possible and when you have around 500K of assets saved, you can do whatever the fuck you want with your extra income.
The trick if to not make your job a means to live, but a means to a better lifestyle.
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>>1437107
The deal won't be gone bro. In 2 years, you can get a 1 year used Tesla Model 3 for the same price likely, with 0 options.
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