20 with Money - Question
Hey all — I'm 20 years old with just less than 100k invested (incl. recent turmoil) across brokerage accounts. No debt, emergency fund is solid, and I already have a reliable daily driver. Currently in college now.
I’ve been eyeing a fun older car around the $8k range (germans). It wouldn’t be a primary car — more of a weekend/project car to enjoy and learn some DIY wrenching.
Is it a dumb idea to pull ~$8k out of investments for this? I want to enjoy my youth a little while still staying on track financially. Curious how others in a similar position or with more experience of having free time for hobbies later in finance have approached this kind of decision.
I think it would be fun to get WSO opinion! Thanks
8k is nothing in the grand scheme of your life. YOLO.
I know just having trouble justifying it. Quite weird considering retirement, or money pit but its my passion.
Buy the car dude. Im not trying to flex but that is nothing. Its a material cost if you plan on being a 9-5 stooge for that makes slightly above avg income, but if you plan on one day making bonuses worth 100x that, youre worrying over a rain dropbin the bucket of your lifetime earnings
It sounds like you’re a car guy so I would say it’s a great idea.
Are you in college? You may want to hold off on a second car until after college since if you move to an apartment it will be difficult to have a project car in an apartment.
What kind of car are you looking at?
Sorry for delay - in college but close to home where I can keep it, I am looking at a ZHP e46.
Yeah i bet that'd be a lot of fun. Assume looking at a manual?
Worst case you have a fun project and learn a ton about cars for a few years and sell it and not lose too much. Much more likely it'll be a blast and affordable way to drive a fun and cool car.
Yeah current daily is manual too. My whole idea is its a lot more to have a fun car while I'm young rather than the opposite.
get an e30 if ur gonna get a classic bmw
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