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One car, part deux

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  • #31
    Originally posted by Nysoz View Post

    Because my car loans are 2% annually and I’m averaging 5-10% returns monthly on that money I have invested/trade with.
    If you’re making 5-10% monthly then why is your wife still working weekends?

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    • #32
      Originally posted by Lithium View Post

      If you’re making 5-10% monthly then why is your wife still working weekends?
      Maybe because he’s making 5-10% monthly for now, until the good fortune runs out. High return, high risk.

      My net worth is high, I don’t really need to work if I don’t want to, but I still worked in the ED last weekend despite having only 2.3 million in malpractice insurance coverage. Maybe it’s foolish, I’m not sure. And WCI is also still working in the ED.

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      • #33
        If you’ve chosen to leverage your trading—good luck to you, magnifies gains and losses.

        If one can’t easily pay cash for cars still too expensive. A separate question from choosing to leverage trading via car loans.

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        • #34
          It’s just the agreement we came up with that works for us. We both wouldn’t have to work again if we just lived by the 3-4% rule on top of what I make in the market. But she likes her $1k shoes so she works for her splurges.

          But yes, high risk high reward. It’s hard to explain without going into detail but I average 5-10% a month by making much more than that some months and losing much more than that others. My net worth has grown significantly while doing so the past 2 years, but I also don’t expect the continue the exponential growth Going forward.

          The more I’m able to stash away during the good months cushion the bad ones. So I’m still trying to save as much as possible while I slowly diversify and stabilize my portfolio.

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          • #35
            $1k shoes? I don't think I can dream of splurging that much on shoes.

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            • #36
              Originally posted by Kamban View Post
              $1k shoes? I don't think I can dream of splurging that much on shoes.
              Allen Edmonds are fairly sensible at half that, in part because you can pay to have them reconditioned once or twice and have them last a decade or more. (Get at least two pairs, buy cedar shoe trees, and don’t wear your dress shoes more than one day in a row.)

              Get some New Balance or other decent running or casual shoes. Good shoes and good mattresses seem expensive, but they’re far more affordable than the pain and possible injuries you could incur with cheap shoes and bedding.

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              • #37
                How about the inverse of being a lyft driver. Justify the second car by doing Turo.

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                • #38
                  Originally posted by Hank View Post

                  Allen Edmonds are fairly sensible at half that, in part because you can pay to have them reconditioned once or twice and have them last a decade or more. (Get at least two pairs, buy cedar shoe trees, and don’t wear your dress shoes more than one day in a row.)

                  Get some New Balance or other decent running or casual shoes. Good shoes and good mattresses seem expensive, but they’re far more affordable than the pain and possible injuries you could incur with cheap shoes and bedding.
                  Allen Edmonds are beautiful shoes. You can even purchase them for less if you get "factory seconds." These are shoes with minor defects that often cannot even be appreciated. I have three pairs of AE (2 factory firsts, 1 factory second) and the factory second pair is my favorite! Great advice on shoe care also! I'll add in some polish to your suggestions.

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                  • #39
                    Yeah her shoes are Christian louboutins. I don’t understand it either so hence our agreement.

                    I thought about turo but would likely have to Uber back after dropping the car off and Uber to pick it up if my wife wasn’t available to drive me.

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                    • #40
                      Not sure if anyone appreciates an update for my situation, but I've recently decided to sell the car. Spent 8 months here and only use it to visit my brother and parents rarely. We still have the wife's car to do that but preferentially used mine for driving long distances because it's just cheap/free travel. Most of the time, it's in the garage across the street gathering dust and random people's dust drawings. She still drives to work although I'm convinced she could walk/bike there faster (though she doesn't feel safe doing that early in the morning).

                      Interestingly I bought the Model 3 3 years and 50k miles ago for $51k, got the $4k federal rebate, and now selling it online for $47k. Still in the middle of this process so we'll see how it goes. She's finally warming up to the idea of the Cyber truck since I keep mentioning it but would prefer if I got a Model S or Roadster if I ever got another vehicle (if Tesla ever makes the Cyber truck or Roadster).

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                      • #41
                        Originally posted by Nysoz View Post
                        Not sure if anyone appreciates an update for my situation, but I've recently decided to sell the car. Spent 8 months here and only use it to visit my brother and parents rarely. We still have the wife's car to do that but preferentially used mine for driving long distances because it's just cheap/free travel. Most of the time, it's in the garage across the street gathering dust and random people's dust drawings. She still drives to work although I'm convinced she could walk/bike there faster (though she doesn't feel safe doing that early in the morning).

                        Interestingly I bought the Model 3 3 years and 50k miles ago for $51k, got the $4k federal rebate, and now selling it online for $47k. Still in the middle of this process so we'll see how it goes. She's finally warming up to the idea of the Cyber truck since I keep mentioning it but would prefer if I got a Model S or Roadster if I ever got another vehicle (if Tesla ever makes the Cyber truck or Roadster).
                        You beat me to it, maybe time to sell "high" with used car prices especially Teslas where they are. Plus it does not sound like having a car is a big status symbol for you or anything. You can always rent a second vehicle as needed, through Turo or on a subscription basis. Cost of ownership would still be far lower than owning a car, particularly if you do not use it routinely.

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                        • #42
                          $50 for parking per month? Isn't that basically the same thing as free?

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                          • #43
                            Bought my tesla model y new (white interior, 20inch rims) for 53k (56k if you include tax), Vroom offered me 59k to sell it. Barely drive it because i do locums out of state. But not in same situation as you with living in a walkable area and i have considered selling mine but only to get like a GTR. But whenever I come home im excited to drive my car because its like the Tesla driving experience was tailor made for me and my laziness.

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                            • #44
                              Originally posted by burritos View Post
                              $50 for parking per month? Isn't that basically the same thing as free?
                              Kinda, but it's lame to pay for that and park across the street. It does make me feel better to badge in when others are paying $20-30 a night for event parking. Also much better than the $250 a month to park in the building that I don't even have the option of paying for (they're reserved for the larger units/penthouse).

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                              • #45
                                Originally posted by Nysoz View Post

                                Kinda, but it's lame to pay for that and park across the street. It does make me feel better to badge in when others are paying $20-30 a night for event parking. Also much better than the $250 a month to park in the building that I don't even have the option of paying for (they're reserved for the larger units/penthouse).
                                Can you sublet out the spot for $15 a night?

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