Alright, I need some direction in life.....
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Joined: Nov 2002
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From: Berkeley
no offense to anyone, but i find it interesting how some of the people, who is strongly advising this kid to invest his money and use it wisely, to have splurged $30K+ on an s2000, which is more or less a toy that depreciates in value. wouldn't it had been wiser for you guys to have spent $15K on a honda civic and invested the remainder, if you guys feel so strongly about managing your money wisely?? i think it's smart to invest, but i also think it's important to spend some of the money you work hard to earn and enjoy your life at the present.
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Joined: Nov 2002
Posts: 4,709
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From: Berkeley
Originally posted by AzNxKuKu
So all the $$$ in the bank and let it sit there?
So all the $$$ in the bank and let it sit there?
no, letting money sit in the bank is one of the worst thing you can do, next to keep them in a safe. you earn 1-2% at best from banks, and that's barely enough of offset annual average depreciation.
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Joined: Feb 2001
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From: Near The Ocean
Invest wisely with half of the money with someone you trust and can double it in less than 5 years. Have fun with the rest and watch the investment.
If safety is an issue get a 7 day rollover CD from a bank. The money is safe and you have the option to add to it at anytime.
Once again, have fun with some of the money now that you have the chance.
My .02
Regards,
axcilla
If safety is an issue get a 7 day rollover CD from a bank. The money is safe and you have the option to add to it at anytime.
Once again, have fun with some of the money now that you have the chance.
My .02
Regards,
axcilla
Registered User
Joined: Feb 2003
Posts: 4,472
Likes: 0
From: Sydney
[QUOTE]Originally posted by VTEC_Junkie
no offense to anyone, but i find it interesting how some of the people, who is strongly advising this kid to invest his money and use it wisely, to have splurged $30K+ on an s2000, which is more or less a toy that depreciates in value.
no offense to anyone, but i find it interesting how some of the people, who is strongly advising this kid to invest his money and use it wisely, to have splurged $30K+ on an s2000, which is more or less a toy that depreciates in value.
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Joined: Nov 2003
Posts: 735
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From: San Jose
Originally posted by AzNxKuKu
Alright guys.... I am 18yrs old with like 15k in my hand. The question is I am right now at that crossroad (At least I think so). So with that amount of cash, what should I do? I been planning to go turbo even before I got the car. Well, actually ever since I started lurking on this forum. You might ask me how did I plan to go turbo even when I didn't have the s2000? As weird as it might sound I REALLY FELT like I was going to own a Honda S2000. Older guys (dad and business owners) tell me to invest my $$$ and put it in the bank. Which is indeed a very wise choice, but being young... I wanna be a little faster, but also that money in the long run also sounds very nice.
So there goes my problem, should I invest the $$$ or go turbo? I am sure some older s2k owners always say to young people, "if you invest 10% of your paycheck every month for the next 20yrs you could be a millionaire/retire by the age of 40 - 50."
If you guys are going to tell me to start a business I already thought about it. Since I am only 18, there are some stuff that I still can't sign (or can I)?
Anyways any advice on what to do with the 15k would be nice.
Oh yeah, if your wondering how does a 18yr old pay off his s2k and pay for insurance and still manage to have 15K, lets say I busted my ass off to have what I had today. Also of course with the help of my parents. Alright guys any input would be nice.
-Alan
Alright guys.... I am 18yrs old with like 15k in my hand. The question is I am right now at that crossroad (At least I think so). So with that amount of cash, what should I do? I been planning to go turbo even before I got the car. Well, actually ever since I started lurking on this forum. You might ask me how did I plan to go turbo even when I didn't have the s2000? As weird as it might sound I REALLY FELT like I was going to own a Honda S2000. Older guys (dad and business owners) tell me to invest my $$$ and put it in the bank. Which is indeed a very wise choice, but being young... I wanna be a little faster, but also that money in the long run also sounds very nice.
So there goes my problem, should I invest the $$$ or go turbo? I am sure some older s2k owners always say to young people, "if you invest 10% of your paycheck every month for the next 20yrs you could be a millionaire/retire by the age of 40 - 50."
If you guys are going to tell me to start a business I already thought about it. Since I am only 18, there are some stuff that I still can't sign (or can I)?
Anyways any advice on what to do with the 15k would be nice.
Oh yeah, if your wondering how does a 18yr old pay off his s2k and pay for insurance and still manage to have 15K, lets say I busted my ass off to have what I had today. Also of course with the help of my parents. Alright guys any input would be nice.
-Alan
Don