So I enjoy putting food out for the TROLLS while getting some pretty good advice from a few wise members about finance.
This time I want to make sort of a game of scenarios where you give your (good or bad) advice about the financial situation in each scenario.
So here we go:
Assumption: These people need a car.
What car should the person in each scenario drive?
Assumption: These people have no investments and just cash savings
What should this person do with their savings?
Assumption: Retirements is being maxed at 5k per year.
What should this person save per paycheck?
Others?
Have fun with this one. Interesting to see what you would do in these situations.
I will evolve this thread as I see responses and what the conversation will look like.
This time I want to make sort of a game of scenarios where you give your (good or bad) advice about the financial situation in each scenario.
So here we go:
Assumption: These people need a car.
What car should the person in each scenario drive?
Assumption: These people have no investments and just cash savings
What should this person do with their savings?
Assumption: Retirements is being maxed at 5k per year.
What should this person save per paycheck?
Others?
- Scenario 1
Age: 26
Income: $80,000 yearly, monthly = $5050 after tax
Savings: $15,000 , Retirement: $10,000
Monthly Bills: $1600
(Bills include: Apartment, Married income 120k yearly, Student Loans 30k)
- Scenario 2
Age: 32
Income: $73,000 yearly, monthly = $4240 after tax
Savings: $25,000 , Retirement: $25,000
Monthly Bills: $1900
(House, Single, Student Loans 15k)
- Scenario 3
Age: 50
Income: $115,000 yearly, monthly = $7260 after tax
Savings: $5000 , Retirement: $10000
Monthly Bills: $2400
(House, Married income: 170k, (1) Car payment for wife $450 monthly on a 42k car)
Have fun with this one. Interesting to see what you would do in these situations.
I will evolve this thread as I see responses and what the conversation will look like.
Buying a Car again?
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