$30,000 dollars!!! What should I do???
04-19-2004, 01:27 PM
#61
Registered User
Join Date: Oct 2001
Location: SoCal
Posts: 2,525
Originally posted by Brent94Z
Don't spend all of it. If you can't control yourself and do decide to spend it all, buy your stuff with CASH. I knew a guy who came into $50,000. He blew it in 2 months. His problem was he bought some stuff on payments. Long story short, he needed to make a furniture payment so I got his few month old $2,500 camera for $500... don't end up like this guy.
Anyway, if you like working on your cars then spend some of the money and mod the car up yourself. But, if you just want a fast 4th gen then there are plenty out there that people are selling for less than they have in just the engine. Keep your eyes open for one of these and you'll have the cash to buy it outright. The chances are good here for you because most need a loan to buy a car. Banks don't loan $15,000 on a standard 95 Camaro even if it has $20,000 in the engine. I've seen more than a few deals like this to where the guy has $20,000 or so invested in go fast goodies but is selling the car for just a few grand more than what a stocker of the same year/condition would go for. Nobody buys it because they can't make up the difference between the loan value and the asking price. Just another option for you.
Don't spend all of it. If you can't control yourself and do decide to spend it all, buy your stuff with CASH. I knew a guy who came into $50,000. He blew it in 2 months. His problem was he bought some stuff on payments. Long story short, he needed to make a furniture payment so I got his few month old $2,500 camera for $500... don't end up like this guy.
Anyway, if you like working on your cars then spend some of the money and mod the car up yourself. But, if you just want a fast 4th gen then there are plenty out there that people are selling for less than they have in just the engine. Keep your eyes open for one of these and you'll have the cash to buy it outright. The chances are good here for you because most need a loan to buy a car. Banks don't loan $15,000 on a standard 95 Camaro even if it has $20,000 in the engine. I've seen more than a few deals like this to where the guy has $20,000 or so invested in go fast goodies but is selling the car for just a few grand more than what a stocker of the same year/condition would go for. Nobody buys it because they can't make up the difference between the loan value and the asking price. Just another option for you.
04-19-2004, 03:10 PM
#62
Registered User
Join Date: Apr 1999
Location: Boulder, CO USA
Posts: 514
I'd take the cash and go to a classic car auction and buy a first gen, big block, RS/SS 'vert or a classic 'vette. You can have a blast owning and driving it and it will appreciate in value. Maybe not as good an investment as gold, but a lot more fun on a daily basis and you'll always be able to get your money back if you need to.
04-19-2004, 06:08 PM
#64
Registered User
Join Date: Apr 2002
Location: Baton Rouge, LA
Posts: 118
Billsbird,
Also their is one more thing to keep in mind. You're not promise to live another day so it might be good to have a will written out in case if you do go..someone in your family can use the money for their needs as well. Just a thought that I had.
Also their is one more thing to keep in mind. You're not promise to live another day so it might be good to have a will written out in case if you do go..someone in your family can use the money for their needs as well. Just a thought that I had.
04-20-2004, 05:56 AM
#66
Registered User
Join Date: Apr 2004
Posts: 1
His profile suggests he's 4 months older than I am and I was still in junior high school when PTSD was beginning to affect many of the 500,000 Vietnam Americans who are afflicted (the last year we had troops in limited combat over there was 1972; last year of major casualties was '71). On a positive note, it's good to see his disability has not affected his love of cars and spending money.
Not sure I would've used a public forum of strangers to announce, because I'm disabled, I've come into a nestegg looking for advice on how to spend it on cars. To each their own.
Not sure I would've used a public forum of strangers to announce, because I'm disabled, I've come into a nestegg looking for advice on how to spend it on cars. To each their own.
Last edited by bigdawginva; 04-20-2004 at 10:29 AM.
A car isnt an investment.
04-20-2004, 08:23 AM
#68
Registered User
Join Date: Apr 2000
Location: Tulsa
Posts: 1,208
Originally posted by kgkern01
If u dont have ur own house, there is a down payment. Invest most of it (about $20-25k), use some of rest for mod money, etc.
Just a few suggestions as to what I would do.
If u dont have ur own house, there is a down payment. Invest most of it (about $20-25k), use some of rest for mod money, etc.
Just a few suggestions as to what I would do.
04-20-2004, 07:50 PM
#69
Registered User
Join Date: Apr 1999
Location: Boulder, CO USA
Posts: 514
I don't think he was looking for sensible responses...
Hell, plenty of you who don't have a guaranteed, tax-free income drop that much and more into your rides. Let the guy have his fun. I think he's probably done plenty of "doing the right thing" already... JMO...
Hell, plenty of you who don't have a guaranteed, tax-free income drop that much and more into your rides. Let the guy have his fun. I think he's probably done plenty of "doing the right thing" already... JMO...
04-20-2004, 08:17 PM
#70
Registered User
Join Date: Apr 2000
Location: Tulsa
Posts: 1,208
30g's is way too much to spend on a car in mods unless you're clearing 6 figures a year are debt free including your house, and have your retirement 100 percent secure...pissing away 30g's is a big no no in my book...spend 10 percent invest the rest or payoff your house ....
04-24-2004, 05:49 AM
#71
Registered User
Thread Starter
Join Date: Dec 2003
Location: lv, nv.
Posts: 376
Hey Bigdawginva, I sure glad the women I date AREN'T as observant as you are when it comes to my birthday! Ok, so I'm not 47 but 57. Whats 10 years here or there when your this old??? 
p.s... Thanks for all the replys, guys & gals Bill...
p.s... Thanks for all the replys, guys & gals Bill...
04-24-2004, 06:33 AM
#72
Registered User
Join Date: May 2003
Location: Dover, NH
Posts: 82
wow, most of these responses were really depressing... investing, down payment on a house, save towards a family??? WTF... your 57 years old... almost sixty. Who cares about doing the right thing at this point. Spend it however you damn want... just do some thing rediculous like go to Burgerking and order 5000 woppers just fun the humor of it, or spend 20K on mods for your car, cause it would be nice to run with the big dogs for a little while... Someone said "Make a will" thats the worst advice I have heard yet... What happens if you get hit by a bus tomorrow and you saved every penny... wouldn't you feel like a jerk, lol. You should definately spend at least half of it on dumb stuff and save the rest for a rainy day.
Few things to think about:
1) you certainly cant take it with you when you die...
2) A home is only a roof over your head (that hopefully doesn't leak)
3) Do you really want to have the lawyers/taxes eat up most of it if you leave it to a friend or family member in a will....
4)It is always better to burn out than fade away... nuf said
5) Have you ever wanted to party like a rock star for a week? Cause I sure have... you should make it happen
Just my $.02
Few things to think about:
1) you certainly cant take it with you when you die...
2) A home is only a roof over your head (that hopefully doesn't leak)
3) Do you really want to have the lawyers/taxes eat up most of it if you leave it to a friend or family member in a will....
4)It is always better to burn out than fade away... nuf said
5) Have you ever wanted to party like a rock star for a week? Cause I sure have... you should make it happen
Just my $.02
04-24-2004, 06:37 PM
#74
Registered User
Thread Starter
Join Date: Dec 2003
Location: lv, nv.
Posts: 376
....L.O.L, yeah party like a rock star! I've done my share of that, for sure! {I grew up in the 60's, at least from what I remember} .... An original 1966 Hemi? Thats an idea! hummm, I had a brand new 1965 Plymouth Belvedere I {with post} with the 383, Torqueflight & cheater slicks. Bought it {or Dad bought it for me} as my graduation present from High School. One of the fastest cars in town at the time {small town though}. I was dead even everytime I raced a friend of mine that had a '65 GTO with headers, slicks & 4:56 posi. I rolled it when I was drunk, oh well. I saw a numbers matching '65 hemi at a car show a while back. For sale: $80 GRAND! {it had a big inch built Hemi in it, Built by Dick Landy} .....
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