Strippers and cocaine...duh. No, I dont know what this mysterious "extra" money thing is, but I think if I ever had that much, and school was done, and I had a nice house, I would build a big nice morton building style garage, and fill it with nice shop equipment, and then owe on all of that still. But it would be a hell of a start. Oh, and for the Dave Ramsey thing a few posts above...im 21. Me and my fiance just finished watching his seminars a few weeks back....good info, but its harder now, not much money gets into my "hot rod/future shop" envolope...damn you dave, damn you.
Anyway, back to cars, I would attempt to start my dream car collection.... Whatever year Model A on 32 Frame with modified flathead (Post-war) meaning based around 1948ish - early 50's. 1948 Ford Truck 1956 Ford Fairlane Victoria 1939 Ford Deluxe Coupe 1948 Ford Sedan 1957 Ford Thunderbird 1941 Cadillac 1954 Cadillac 1940's John Deere A 1953 Ford Jubilee Tractor
Don't new cars loose $5,000 as they cross the curb leaving the dealership? I'd take $5,000 from that $30,000 and buy a car or two to flip. I've never had "extra" funds to play with, but I'll bet most guys could buy & sell stuff and have $60,000 or more at the end of the year. Then you could start looking for a house with a garage.
Ozelle the '55 Ford would get a nice paint job and a good rebuild of her lil' Y block using those good 312 heads and 4 barrel intake I pulled off a derelict '57 Merc a while back. Do some needed work on my house and shop.
30 grand would buy one hell of a coffee table! or some "made in china" solar panels. or candy. american candy though.
Well since I owe the feds 28K+ and the state of Mary Land 13K+ I guest they would fight over it, Now when I started working for Motorola and I met lots of young guys, living at home, making good money, 30 years ago. I told them to buy 55-57 Chevy's etc, and put them in a barn or garage somewhere and it would be better then the stock market.........
Tell him to get into something for $3500 to $5000 that runs and drives so he can learn about old cars and develop his taste. The rest should be invested, or spent on hookers.....but that's just me!
If he gets a Home Warranty he will only pay a service fee regarding repairing the AC. He is still entitled to a home inspection prior to closing. That should alert him of any defects. Interest rates are at 4% now. Real estate is a hell of a option. I'm a realtor/real estate agent in California. I can't sell him a house so there is nothing in it for suggesting he invest in a home/real estate. He could go with a FHA loan which is 3.5% of purchase price or 0% down with a VA loan if he's a Vet. FYI I don't do loans either. He could buy the car and still also buy a home. Rent in most of the states has caught up with mortgage. I know I'm in Cal and can't do anything for him but feel free to message any questions that are general.
I just read 6 pages of nonsense. The OP asked all of you what YOU would do with an extra $30,000.00. Not what you would do if you were a financial advisor to this kid who does have the extra dough. If I had an extra 30,000.00 sitting around, my Merc would be finished a hell of a lot more quickly then it is taking right now, that's for sure!
My ex-wife used to say those words "extra money". Note that I say "ex". I always say there's no such thing extra money as well. I'd put it into a portfolio and watch it grow--at least a good portion of it. Maybe use half or less to build a rod. I have my teenaged daughter do the same. Half of her money is to play, the other half is to save. Not that your friend is a kid, but the more money he can put away the better. There's no time like now.
It's not hard for some to save money. Stay single, be frugal, work hard and stay out of the bars. You won't get rich but you won't go broke. I used to keep my thermostat at 55 Then again, hot cars, fast women and cold beers sounds like a blast. Probably better than sitting in the dark eating a PB&J.
A brief story when considering a future: Once upon a time, a Prince asked a beautiful princess, Will you marry me? The Princess said, NO! And the Prince lived happily ever after and rode motorcycles and fucked skinny big titted broads and hunted and fished and raced cars and went to nudie bars and dated women half his age and drank whiskey, beer and Captain Morgan and never heard bitching and never paid child support or alimony and screwed cheerleaders and kept his house and guns and never got cheated on while he was at work and all his friends and family thought he was fuckin cool as hell and had tons of money in the bank and left the toilet seat up ….. The end
I'd finish up my retirement place then make like geese and get the flock outta Dodge. The car money has always taken care of itself.
Yeah..I fucked up there too also agree with the poster that said..Quit telling people you have 30K burning a hole in your pocket also agree with those who said buy guns and ammo and food
A few years ago I would have agreed with those saying he should go to college. Not now though. Kids are finishing college only to find out there are no jobs in their field. Plus they're buried in debt with school loans. I'm all for kids keeping the option of going to school open in case things get better, but it's doing them a disservice to tell them to take on all that debt when the job picture is so bleak. The kid is obviously doing something right if he's been able to save 30K. If he wants to spend money on a car I'd suggest finding something for 10K or less. Stick the rest away and let it grow. If he buys a project car he can pay as he goes without touching the money he has socked away. Chances are he could continue saving more money as well. His circumstances could change. Having some money set aside will give him more options. As for what I'd do with an "extra" 30K....... I'd put it towards a shop.
Buy more drugs to sell. I mean how the hell else does he have 30 grand laying around. Either drug dealing or he's a loser hermit crab kid and only goes outside to work.
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