Buying a Car again?

jeudi 6 août 2015

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?


  1. 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)

  2. 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)

  3. 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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