Scardey. For peets sake, you’re an attorney. You’re spouse if I recall is a doctor. You live in a lower cost Temecula which you got a screaming deal on the home. You got a screaming deal on your loan. And you’re probably getting a screaming deal on your car.
Granted it’s a car is a depreciating asset, but let’s put this in perspective. Even if you spend $30k for a car (which I doubt you are). You’re honda will most likely last 20 years. $30k/20 years is like $1500/year or $125/month… Dude. Get rid of a cell phone or two or get rid of cable or eat out less..I’m sure you can figure out a way to eliminate $150/month in expeditures elsewhere. Or find a way to increase your monthly income by $150/month
For once in your life, enjoy it…If you don’t enjoy it and save it… Fine. Say hello to uncle sam, and will more than happy spend it for you on something else. After all, he/she/they probably think you are rich anyway and want to robin hood distribute it to everyone else.
About 2-3 years ago, I was in your boat. Scraping every penny, every dollar, living like a hermit. It’s how I’ve been most of my life. Then it dawned on me after I fired up my turbotax.. Holy crap…Interest (yeah, we can argue over 1-2%)….Dividend tax break? Going away… Capital gains breaks..going away… AMT? Still there…Meanwhile, borrowed money is cheap…
Folks living rent free/squatting? Obamacare? Folks complaining about taxing the “rich” more? And then the unexpected health shit. I was like, holy crap if I die tomorrow, tax shelter aside for my kid/family/etc, the rest gets redistributed to god-knows-who who will probably take borrow every $4 for every $1 uncle sam gives to them. Or yet, it goes into some bullshit missile used in the persian gulf, or to some public union pension, or some bank bailout, or some other ridiculous expenditure that uncle sam can think of..Meanwhile. I’m dead. I’m in a box, that’s gradually decaying, and eventually worms or something else will start eating at my flesh…
Bullshit,bullshit,and more bullshit. So… Two years ago, no more. I don’t condole spending up the ying yang, but come on enjoy life for a change. It’s the best time to do it because not everyone else can, it’s probably the cheapest time to do..And see if you can find a way to write it off. Open a small side business, and write off some additional expenses here and there and make it legitimate…You indicated you don’t even itemize the last time you posted. There’s part of your problem right there.
If you or your spouse gives you crap, just think there are people other people you know who are more irresponsible than you and they’re doing just fine.You’re buying 1 car. I bought 2 in less than 6 months. Haven’t looked back ever since…And to some extent the tenants pay for it…
Enjoy life for a change, because you can….because you should. If you don’t someone else will…at your expense.
Donate you’re old car to Father Joes, Goodwill, or someone else that isn’t as lucky as you, and be done with it.
No need for analysis to paralysis on this one. This one is a no brainer imho.
