Investor · shawnee oklahoma · Member since 2017 · 194 posts · 148 votes
HI, I have been a real estate investor for many years now. I have been very disciplined with my investing strategies, making sure to budget, and invest as much as I can.
I now have about ~ $4M RE portfolio, ~$240K in stocks, and decent monthly cash flow. I am about 70% leveraged or less.
For years I have been driving an old beat up pontiac that now has 250K miles on it. (still runs great)
I am now in my 40's and for some reason getting an itch to buy a nice car that I totally do NOT need. Even though it's 5+ years old It most certainly would continue to depreciate and goes against any advice I would give to someone else. I don't know how to ditch the urge. It seems to be growing stronger with each passing day.
Congrats on your success. Seems to me there's no point in building wealth if you don't do something with it. Live a little. Give to charity. Help someone out. Buy a car.
Define "stupid"? Is it $40k stupid, or $400k stupid?
It sounds like you are in the position to be $40k stupid, or even double that. I'm in the same boat as you struggling to spend some of what I earn. At some point, we have to either spend it on stupid stuff, or leave it to our children who will spend it on stupid stuff.
I really confused about the question. Most people that I know is having the reverse situation, they have nice car no house section 8 tenant no cash and no investment and sometimes no balance bank account :) ha ha .....
I had the same dilemma for many years. Three months ago, I ordered my Model X Tesla. Dilemma solved. What good is money if you don’t enjoy it. Just my 2 cents.