When Is It Okay to Buy a Dream Car?
Rick wants to buy a collectible car. However, Rick is in college and paying cash for school. He has about $2 million in investments. The car is $10,000. Dave tells Rick to buy it.
QUESTION: Rick in Lincoln wants to buy a collectible car. However, Rick is in college and paying cash for school. He has about $2 million in investments. The car is $10,000. Dave tells Rick to buy it.
ANSWER: Buy it. It’s like most people buying a biscuit, dude. It’s $10,000 out of $2 million. Run the ratios. It’s nothing. It’s nothing.
I bought a 1979 Corvette L82 four-speed not long ago that has, like, 39,000 actual miles on it. It’s a little collectible car. It wasn’t a lot more than that, but it’s fun to have some little toys like that.
You’ve worked your butt off, man. You’ve done well. It’s a very small percentage of your world. Always make sure that you’re enjoying some of your money, you’re saving some of your money, and you’re giving. I have a feeling you’re probably outrageously generous. Be generous and enjoy your money.
Ten thousand dollars out of $2 million doesn’t move the needle. Owning a Fiero may make you unemployable. I don’t know, but … I’m kidding. That’s awesome, man. Go get it. That’s great. That’s what you do. Very cool.
Gonna get the law degree. That’s perfect. You’re cash flowing all of it. You’ve got plenty of investments. You’ve done a great job. Yeah, definitely. Definitely.