Author Topic: Semi-FIRE, feeling weird about big car purchase  (Read 6293 times)

DavidAnnArbor

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #50 on: September 07, 2017, 09:12:33 AM »
Interesting thoughtful responses.

libertarian4321

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #51 on: September 07, 2017, 09:59:14 AM »

we have no debt - including no mortgage - and we're about 40% over target figure for full FIRE for both of us.

You may have noticed some of the folks on this forum are a bit fanatical about doing everything exactly as MMM would do. 

They treat the MMM philosophy as if it were Gospel brought down on stone tablets from God, with no variations allowed- I guess we could call them evangelical Mustachians. :)

But others here are less steadfastly bound to the gospel, and do allow an occasional un Mustachian indulgence, as long as it doesn't throw off the overall goal to FIRE.

It sounds like you are doing fine, and well on the way to FIRE.  So as long as this doesn't throw off your FIRE plans, I say go ahead. 

My wife likes nice cars.  She drove a junker for years, but in the 90's she bought her first new "near luxury" car, even though we were not quite FIRE ready at that point.

That was before we made our first million.  She drove the car for years, and now drives a BMW (also bought new).  We are now multimillionaires, and neither of us have ever regretted those purchases (nor will either of us regret it when she gets her "baby" Tesla next year).  I drive an old vehicle, because only because I'm not a "car guy" and really have no desire to have a nice car.

I'm frugal, but it doesn't hurt to knock the rust off your coin purse once in a while and buy something you like.  Just don't make a habit of it.

If you don't spend a little once in a while, you'll end up like this guy:




2Birds1Stone

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #52 on: September 07, 2017, 11:10:08 AM »
I hope you bought the car Gus.

While it wasn't my proudest moment from a financial perspective, I LOVE the luxury sports car I purchased back in March of 2016. Despite it having depreciated 20% in those 18 months.

Exflyboy

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #53 on: September 07, 2017, 11:38:13 AM »
Yup.. I think you guys nailed it for me.. I.e experiences matter more than things.. But of course driving the car is an experience!

If that experience fulfills you and doesn't detract from your FI plans then it should be counted as equal to say our 8 week tour of SE Asia last year.. Which is still the most amazing trip to us.

I like nice things too, but I almost immediately get buyers remorse as the damn thing owns me just as much as I own it. In fact I find the less things I own the happier I am..:)

mjones1234

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #54 on: September 11, 2017, 01:04:38 PM »
If it were me, and the desire was nagging at me for several months I'd make the purchase, but it would have to be used. I haven't bought a new car since I was 25. I enjoy being able to buy nice things pre-owned, drive/ride them for a couple of years, then turn around and sell them for 80-100% of the purchase price. I can't think of a single reason to buy a car off the dealer lot.

CorpRaider

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #55 on: September 12, 2017, 01:47:19 PM »
Sounds like you already committed to buying the ICE car and came here to attempt to silence or receive some comfort from cognitive dissonance, regret, or anxiety about your decision/consumption. 

Many here would probably say that whatever drove you to labor over and agonize about your decision after you made it is part of the problem with not walking the path of the stoic.  They may convey this by providing you many face punches.
« Last Edit: September 12, 2017, 01:50:41 PM by CorpRaider »

steveo

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #56 on: September 12, 2017, 03:48:57 PM »
This is an interesting thread. Personally there is no way that I would spend a lot of money on a car but I get more pleasure out of riding a bike. In a family of 5 we have 1 car and we will probably downgrade our car over the next 5 years as we move towards retirement.

In saying that who am I too judge  if you can afford to buy a fancy car and you want it. I say go for it.

I'm thinking of buying a punching bag set-up with 3 bags and a PS4 this christmas for the family which is mostly my boys and myself. I intend to get a dog when we retire and do more walking. I intend to buy a vaporizer to smoke pot when I retire. I also intend to upgrade my bike. Different people like different things.

DavidAnnArbor

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Re: Semi-FIRE, feeling weird about big car purchase
« Reply #57 on: September 12, 2017, 03:58:06 PM »
I intend to buy a vaporizer to smoke pot when I retire.

I should probably do that too.