Current Events > can someone help me look over my personal finances

(+) Yeah! (+)

i currently have 250k in cash

the downpayment for my condo is 150k

that leaves me with 100k after

im setting aside 10k for construction, painting and furniture

so down to 90k after im all done with my condo

shortly after that im planning on buying a new car in the range of 30k (i've been using the same car since 2008)

down to 60k

then i'm planning on buying 3 watches: a tudor at 4k, and 2 rolex at 6.5k each (17k total, although the rolex have years of waitlist)

that leaves me with 43k total left in the bank for emergencies, which is equivalent to about 6 months of expenses

does that sound right? is that enough?
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Buy more watches and create a fleshlight out of them.

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A condo is a pretty shitty investment. But if you're poor and have no self-discipline (which it appears you don't), sure go ahead.

Only if you rub your junk over every square inch of Taylor Swifts body

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Alucard188 posted...

Buy more watches and create a fleshlight out of them.

these 3 additions would already make my watch box overflow

Hummer 2 posted...

A condo is a pretty shitty investment. But if you're poor and have no self-discipline (which it appears you don't), sure go ahead.

im buying it for the location. it's the ultimate bachelor pad. nicest building in town. if i break even when i sell im happy, because it means i didnt pay rent

but im prepared to die in this condo
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Hummer 2 posted...

A condo is a pretty shitty investment. But if you're poor and have no self-discipline (which it appears you don't), sure go ahead.

what about a condo is a shitty investment?

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YugiNoob posted...

Only if you rub your junk over every square inch of Taylor Swifts body

does a taylor swift westworld sex robot count?
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Alucard188 posted...

Buy more watches and create a fleshlight out of them.

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No_U_L7 posted...

does a taylor swift westworld sex robot count?

Nope, gotta be the real deal

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Imagine "owning" part of a building attached to other parts of buildings where you can have loud as fuck neighbors. It's like an apartment that you can't just leave whenever.

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FabIe posted...

Imagine "owning" part of a building attached to other parts of buildings where you can have loud as fuck neighbors. It's like an apartment that you can't just leave whenever.

this building has 3 feet of solid concrete on every side of each unit, but nice try
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Why do you like spending so much? It really feels like you're making up for something.

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LightningAce11 posted...

Why do you like spending so much? It really feels like you're making up for something.

what...?

ive lived in the same apartment for 8 years with 800/month rent and used the same 10k car my parents gifted me for graduation since 2008

i'm 34, shouldn't i be looking to upgrade? what is the point of working 40 hours/week at an engineering job if i can't improve my quality of life
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Why would you buy a new car in cash? Interest rates are low and youd make more money investing it and then financing the new car.

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No_U_L7 posted...

what...?

ive lived in the same apartment for 8 years with 800/month rent and used the same 10k car my parents gifted me for graduation since 2008

i'm 34, shouldn't i be looking to upgrade? what is the point of working 40 hours/week at an engineering job if i can't improve my quality of life

That's fine and all, but every day you're posting about spending exorbitant amounts of money while saving very little for retirement or investment.

Like you always seem to go for the most expensive option possible.

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Pitlord_Special posted...

Why would you buy a new car in cash? Interest rates are low and youd make more money investing it and then financing the new car.

because idk how to invest (besides my 401k)

and i thought you get a better deal just buying cash
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LightningAce11 posted...

That's fine and all, but every day you're posting about spending exorbitant amounts of money while saving very little for retirement or investment.

Like you always seem to go for the most expensive option possible.

what lol

all my topics are about speculative condos and watches...all of which are included ITT

and 24% of my paycheck goes to my retirement, i'm no expert but i feel that's plenty

and yes, i like nice things. i don't see the issue with that
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No_U_L7 posted...

because idk how to invest (besides my 401k)

and i thought you get a better deal just buying cash

I really doubt it unless it's a shady used car salesman. In some cases it might even backfire since they get commission on financing plans and may be incentivized to get you to finance.

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No_U_L7 posted...

because idk how to invest (besides my 401k)

and i thought you get a better deal just buying cash

A lot of dealerships will give you a hella hard time paying in cash. They get a lot more incentives to have it financed with a lender. Therefore they pass some of those incentives onto you in the form of a rebate. For example, you can buy a 30k car in cash and pay 30k or you can finance 30k over 3 years and get a 2.5k rebate if you stay in the loan for 3 months. Then pay it off only accruing maybe 100 in interest and you essentially have a free $2400 discount.

Just don't be stupid and get an extended warranty.

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FabIe posted...

A lot of dealerships will give you a hella hard time paying in cash. They get a lot more incentives to have it financed with a lender. Therefore they pass some of those incentives onto you in the form of a rebate. For example, you can buy a 30k car in cash and pay 30k or you can finance 30k over 3 years and get a 2.5k rebate if you stay in the loan for 3 months. Then pay it off only accruing maybe 100 in interest and you essentially have a free $2400 discount.

Just don't be stupid and get an extended warranty.

ok so in that case i'd just do that and pay it off after 3 months...either way doesnt really matter for these calculations
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Its because he thinks Taylor Swift posts here and wants to impress her enough that she lets him rub his junk over every square inch of her body ;)

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$10k doesn't sound like enough for construction, painting, and furniture. I would set aside at least twice that amount (and hope you don't need that much).

Agree with the PP about financing the car and investing the money, unless you have a bad credit rating. You can invest in index funds through a discount broker such as Charles Schwab, Fidelity, or Vanguard. A total market index is a good option.

No one needs three watches, and that part makes me suspect this whole thing is a joke post.

Also, do you have any income? Will your savings be getting any inflows during this time period?

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No_U_L7 posted...

ok so in that case i'd just do that and pay it off after 3 months...either way doesnt really matter for these calculations

That's not always possible, depending on the terms. Make sure you look for a "no pre-payment penalty" clause (or maybe that's only for home loans?).

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Sariana21 posted...

$10k doesn't sound like enough for construction, painting, and furniture. I would set aside at least twice that amount (and hope you don't need that much).

Agree with the PP about financing the car and investing the money, unless you have a bad credit rating. You can invest in index funds through a discount broker such as Charles Schwab, Fidelity, or Vanguard. A total market index is a good option.

No one needs three watches, and that part makes me suspect this whole thing is a joke post.

Also, do you have any income? Will your savings be getting any inflows during this time period?

Thanks, ill double the amount for condo stuff, it's not a huge place tho

I'm a watch enthusiast, I make posts about watches all the time

My income contributes 24% monthly to retirement and then pays my mortgage, food, clothes, vacation etc

Savings will depend on how much I spend on stuff month to month, but generally it gets close to 0
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No_U_L7 posted...

this building has 3 feet of solid concrete on every side of each unit, but nice try

what about the inner walls though?

its all drywall/Sheetrock/plaster wall, you could maybe kick a wall and get into your neighbors condo. Or at least you can hear all the noise

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I read only the first post. Looks good. (I imagine employment will not be an issue any time soon.)

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limp-bizkit-89 posted...

what about the inner walls though?

its all drywall/Sheetrock/plaster wall, you could maybe kick a wall and get into your neighbors condo. Or at least you can hear all the noise

It's probably not 3 feet between units buy its still super sturdy. Every time I've been I've never even heard a neighbor. Like I said, this is the nicest building in town. Several nba players have condos here

yunalenne10 posted...

I read only the first post. Looks good. (I imagine employment will not be an issue any time soon.)

Thanks! Yeah I have sturdy employment with the gov and unionized, so for the first time in a while I'm not worried about work
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