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Forum ยป Need some $$$ advice
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Thread: Need some $$$ advice

post 1628264413 01-11-2021, 02:48 PM
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  1. JoocyMane13
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Need some $$$ advice

I'm about to receive $10,000 due to a family passing.

should I...

1.) Pay off my car loan (currently $11,000 remains)
2.) Put towards my shared account with my Mrs. towards our first home purchase. This would be a nice boost for our savings especially as we're looking to buy this year, although we're still quite a while off (under $50,000 saved)
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post 1628264463 01-11-2021, 02:49 PM
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  1. Steveyblack
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What sort of interest is on the car loan?
post 1628264543 01-11-2021, 02:50 PM
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  1. RealLifeAlpha
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personally I would pay off my car loan (ded fkn Srs)


but there might be a better idea some miscer will have



i HATE having loans / debts
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post 1628264943 01-11-2021, 02:54 PM
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  1. GordonXXX
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IMO -

1/4 - throw at car loan
1/4 - cash for future house purchase
1/4 - VFIAX
1/4 - VWLUX
post 1628265083 01-11-2021, 02:55 PM
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Originally Posted By Steveyblack⏩
What sort of interest is on the car lone?
8.50%
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post 1628265253 01-11-2021, 02:56 PM
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Originally Posted By JoocyMane13⏩
8.50%
Pay that off ASAP...
You don't have to be great to start, but you have to start to be great.
post 1628265513 01-11-2021, 02:58 PM
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All on Bitcoin
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post 1628266133 01-11-2021, 03:03 PM
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put it towards the house and get one ASAP

Biden is about to **** the economy up and these 2% interest rates being handed out like candy wont be around much longer.
**worthless college major crew**

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**HTC**
post 1628266643 01-11-2021, 03:09 PM
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  1. JoocyMane13
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Originally Posted By Jestbrah⏩
put it towards the house and get one ASAP

Biden is about to **** the economy up and these 2% interest rates being handed out like candy wont be around much longer.
Im in Australia brah
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post 1628266673 01-11-2021, 03:10 PM
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Pay off the car as its interest is higher than the interest you earn from your savings account (even high yield). Then take the money you were using for the loan and put it towards your house savings every month.
*Updated* If you can't hit a 320 yard drive, are you even a man?
post 1628267153 01-11-2021, 03:13 PM
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  1. JoocyMane13
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sounds like the car loan is the way to go. i was favouring that option too
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post 1628268293 01-11-2021, 03:24 PM
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  1. GordonXXX
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Originally Posted By Rajc⏩
what i'd do :

-pay off the car debt.. especially at 8.5% interest

reason:

a) diversifying such a small amount like post #4 recommended is retarded.. you'll be going nowhere with it
b) with the rising wealth disparity and leftist politics, a way "tax the rich" will surely be implemented.. real estate tax is the easiest to execute in that bracket so high risk to buy a house right now
c) in general, you want to be as financially liquid as possible right now because the biggest wealth transfer ever is going on if you haven't noticed
d) you could go into crypto but tbh a bit late and 8.5% interest JFL.. that would've been the play if you didn't have that debt
you start the funds then keep adding to them slowly over time. this is how you get rich. everyone has to start somewhere.
post 1628268473 01-11-2021, 03:26 PM
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Brah pay off the car loan. If interest rates go back up, the price of houses will go down and you'll be ok.
post 1628268823 01-11-2021, 03:29 PM
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#14
  1. GordonXXX
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Originally Posted By Rajc⏩
lol at investing into these boomer things when u got less than $1MSRS

that's how you get retired not rich
you're not that bright and i'm a lot richer than you'll ever be.
post 1628268933 01-11-2021, 03:30 PM
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#15
  1. Jestbrah
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Originally Posted By JoocyMane13⏩
Im in Australia brah
ah then car

use monthly money to save for house

unless yalls interest rate situation is similar due to covid and lockdowns
**worthless college major crew**

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post 1628269953 01-11-2021, 03:39 PM
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#16
  1. GordonXXX
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Originally Posted By Rajc⏩
nice argument, boomer
wrong. Gen-X. the greatest generation. and my argument is proven by my results.
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