Who's letting investments pay for their truck??

[Raptorial]

Too many damn bankers drive Raptors

 

[Littlefx4]

Totally understand what you are saying. And it's great you are being freed financially.

I think it should be kept in mind that a persons time horizon matters a bit.

Which brings into the discussion compound interest. You need time to make it work for you.

Example. My mom bought a house recently. She is in her early sixties.

So my advice to her was get the lowest possible payment per month and to never pay off more of the home than that monthly payment.

Why?

Because she is already old. Chances are she will die before it's paid off. And since the payment per month doesn't change right up until the day it is paid off, why give the bank more money?

If a person was younger, then sure the benefits of paying off your home make more sense.

Even if you are 30 and buying home, i'd still recommend, if you have a low interest rate, investing the extra you have after your mortgage payment is done. Since the max return for giving the bank your extra money is a very low percentage.

Sounds all good but life’s to short man! Hell, a person can die young also. Enjoy life while you can!! Also seems as though you should have bought your mom‘s home…you got it like that! Just pulling your chain man but you get the point. Are you seeking feedback on a business pitch here? I’m sold man; where can I sign up?

 

[Raptorbegone]

Too many damn bankers drive Raptors

Sounds all good but life’s to short man! Hell, a person can die young also. Enjoy life while you can!! Also seems as though you should have bought your mom‘s home…you got it like that! Just pulling your chain man but you get the point. Are you seeking feedback on a business pitch here? I’m sold man; where can I sign up?

I know more about death than I care to.

Nah no business pitch.

Money is something you only need if you don't die. But then again you may not anytime soon.

For those that spend it all before they die. There's always cat food.

 

[tooloud10]

Anyone else get the feeling that OP is building towards trying to get us all to sign up for Amway?

 

[Littlefx4]

I know more about death than I care to.

Nah no business pitch.

Money is something you only need if you don't die. But then again you may not anytime soon.

For those that spend it all before they die. There's always cat food.

Nah, I just stock up on Ramen. Cheap & makes for a great meal!

 

[quikag]

The scenario on borrowing the whole $85k on a Raptor at sub-3% rates, paying $1500/month and investing it becomes problematic if we have a 30-40% correction and that $85k that could have paid cash for the Raptor becomes $50k in an S&P 500 index fund, you still owe $80k+ on the Raptor that's now worth $60k due to declining asset value, and you are still paying $1,500/month.

My strategy would be to pay the $85k cash for the Raptor, take that $1500/month you'd be giving the bank to pay down your principal/interest and dollar cost average into an S&P 500 or some other good index fund for the next many, many years. Rinse and repeat. You're never caught with your pants down owing debt on a depreciating asset.

Until you can do the above, follow a Dave Ramsey type deal and drive a beater until your debt is gone (besides mortgage maybe), you've built a cash/investment stockpile and then start buying the fancy toys (i.e. Raptors, etc.).

But then again, we live in an instant gratification and FOMO society, so do whatever you want as long as you can sleep at night.

 

[Raptorial]

The scenario on borrowing the whole $85k on a Raptor at sub-3% rates, paying $1500/month and investing it becomes problematic if we have a 30-40% correction and that $85k that could have paid cash for the Raptor becomes $50k in an S&P 500 index fund, you still owe $80k+ on the Raptor that's now worth $60k due to declining asset value, and you are still paying $1,500/month.

My strategy would be to pay the $85k cash for the Raptor, take that $1500/month you'd be giving the bank to pay down your principal/interest and dollar cost average into an S&P 500 or some other good index fund for the next many, many years. Rinse and repeat. You're never caught with your pants down owing debt on a depreciating asset.

Until you can do the above, follow a Dave Ramsey type deal and drive a beater until your debt is gone (besides mortgage maybe), you've built a cash/investment stockpile and then start buying the fancy toys (i.e. Raptors, etc.).

But then again, we live in an instant gratification and FOMO society, so do whatever you want as long as you can sleep at night.

And by then, you're just an old guy on v-i-a-g-r-a in a corvette, wishing you still had the libido and the nerve

 

[jeanco]

paid cash,always from $$$$$$ from L.V.
yes , i am a good liar!

 

[Ragnar]

Dunno after paying cash for my Ferrari, I figured I’d finance a portion of it to spread the wealth around. Liquidated one of my hedge funds to pay for the down payment. Anyone else besides me really hating the increased inflation as of late?

 

[leinad1904]

The payment on my 2019 Raptor was $1,165.33/mo, about $85/mo less than my mortgage. That payment sucked, so I worked my *** off to pay it off early.

For me I don’t know s**t about investing and I don’t want another Raptor payment. So I’ll be paying cash for the new one. It’s the only way to go