How are you planning to pay ... cash, lease, loan?

[Crissa]

What may not be appreciated is that 11% of households in the US have a net worth of...

...Which is a stupid factoid, since the vast majority of Americans have most of their wealth in their primary home value, and then their defined contribution retirement is next.

-Crissa

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[Marcia Litsinger]

I have been saving my SS check for years to be able to pay cash for this vehicle. Been running an off grid certified organic farm business sustainably for almost 40 years.We got to thank Jimmy Carter for our first panels, and our Grandson John Glass for the last. Would have gotten a Tesla as soon as they came out 'cept I couldn't drive it home to the ranch

 

[ajdelange]

AJ, that's interesting. I didn't realize 11% of the US had a cool $1M in net worth. They didn't get that way by spending their money on depreciating assets.

It either says capitalism is great or that a million bucks doesn't go as far as it used to. Of course Winston Churchill used to say that capitalism was the worst economic system, except for all the others.

 

[Rozonoe]

1997 still to go for your Cybertruck purchase, Congratulation your on your way!!

Love your Cybertruck design!!

 

[Red61224]

I want to pay cash, but I don't want to withdraw money out of my retirement savings. Would I be violating site rules to post a link to my Etsy account? I've created some Tesla coasters, maple on walnut inlay (Cybertruck version in the design stage). I would need to sell 3,000 sets to raise enough cash.

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[tidmutt]

I don't touch the market anymore. Go with what you know. I got out of the market Jan 11, 2010. Despite my efforts I could not understand market movement. Most critics that like to point out investment mistakes can only do so in hind sight. When you point to similar situations with counter results those same critics become silent or tell you that if you are too scared to invest then you should not and they point to long-term market history (which absolutely does have merit...but it's changing). So I stopped. I cashed out a Roth...worth about $30k at the time (that had earned 0% after a decade of investing due to the two recessions in the 2000-2010 decade) and instead decided to be disciplined enough to pay off our timeshare, rental house and primary home. I have zero regrets in this plan. Primary home gets paid off this June. Will buy another rental property this summer. I have a complete and lengthy discussion on this very subject on the morningstar.com forums page. It's titled "I did cash out my ROTH to pay off my mortgage". I update the results annually after Jan 11th to discuss where I'd be if I stayed in the market vs where I am today.

As the saying goes, there's more then one way to skin a cat.

If you follow Dave Ramsey at all...you should probably be a millionaire before you try to buy a brand new tri-motor CT. He has not specifically said this, but it's absolutely what he preaches...and you should pay cash. This would be my goal. But I will probably not buy the CT3 w/FSD that I have reserved and will probably instead put that money toward paying off another property.

I know this feeling.

I have stayed away from individual stock purchases for some time now and instead put regular money in a roboinvestor that uses broad market index funds. Historically that's pretty safe in the long term although there have been some periods that if you were unlucky to be retired during you were pretty screwed. I have broken the rule with Tesla stock. The important thing is consistency.

I have read and listened to Dave Ramsey and he has some good advice but I got a little sick of him injection religion somewhat frequently (although he's not too bad) so I don't anymore. Just my preference.

I will finance the truck at a low rate as I can usually make a better return on the cash. No way would I lease this sucker.

 

[happy intruder]

Thank you for the purchase, Frank. I just listed a Cybertruck design on Etsy. I've got a minimalist version coming.

https://www.etsy.com/listing/930579457/maple-inlay-on-walnut-tesla-cybertruck?ref=related-2&frs=1

beautiful......can you get 2 Cybertruck’s and 2 Tesla T's?

 

[happy intruder]

Yeah, I can see how that would be tough. Though recessions were due to government underspending, not overspending.

I feel pretty lucky to have gotten an investing course in High School and then took macroeconomics my second year of college. These things should be standard instead of microeconomics and check-balancing. It blows my mind because they're things that look really complex from the outside but when you boil them down to the essentials they're pretty intuitive.

But if you didn't get taught these things, why would you understand the business cycle at all?

Rental equity is usually a pretty safe investment, even if we did build enough housing units (which we don't). It's a higher bar to get into, tho.

-Crissa

those were great classes when I was in high school back in Atlanta.....but today, all they teach is how to hate and underwater basket weaving.....no wonder our country is dropping in education levels in science and math.....wonder what it will be like in 10 years

 

[Zenny]

By the delivery date, probably in Nuka-Cola caps…

 

[drscot]

By the delivery date, probably in Nuka-Cola caps…

I forgot all about those! I have quite a few books of S&H Green Stamps saved up, as well as prize tickers from Chuckie Cheese ski-ball.

 

[Crissa]

those were great classes when I was in high school back in Atlanta.....but today, all they teach is...

https://www.motherjones.com/politics/2012/08/kids-school-test-scores-charts-kevin-drum/

This trend continues today. Kids not only score higher on average, but the highest scores continue to bend the curve upward.

-Crissa

 

[happy intruder]

https://www.motherjones.com/politics/2012/08/kids-school-test-scores-charts-kevin-drum/

This trend continues today. Kids not only score higher on average, but the highest scores continue to bend the curve upward.

-Crissa

i believe in math, science and reading.....my grandson's high school had 49 students graduate with over 4.0 gpa's.......of those 87% were Asian and Japanese students......and, they all were taking AP classes.....My grandson had a 4.2 gpa. with AP classes....he also won a baseball scholarship for a full ride.....we are proud of him and his accomplishments.....

dont get me wrong, I just think the diversity of schools over the last 40 years has changed since 1981, and I think we are seeing the rise in scores based on that diversity and disciplined study habits based on that diversity.....

case in point.....kids today cant even make change at the store....they let the cash register do it....when I get change back, they just hand me a wad of money and coins and say thank you.....I wonder if they even know how many states we have, what the stars and strips mean on the flag, where different countries of the world are or what the 3 branches of government are.....

please dont think me a purist or left wing or right wing......I'm in the middle....believe everyone is equal.....I am just worried that our country in falling behind others and we are losing our dominance in the sciences and areas that will keep us a leader in the world of change....

 

[Crissa]

case in point.....kids today cant even make change at the store....they let the cash register do it....

...Just like kids forty years ago. It's not a skill you can or should learn in school, because it takes a massive amount of repetition to learn. And most people will never work long as a counter clerk. It's a job a robot could do a decade ago.

And counting back is stupid, anyhow.

-Crissa

 

[FutureBoy]

...Just like kids forty years ago. It's not a skill you can or should learn in school, because it takes a massive amount of repetition to learn. And most people will never work long as a counter clerk. It's a job a robot could do a decade ago.

And counting back is stupid, anyhow.

-Crissa

Counting back is something that is very rarely needed these days as most transactions are done on plastic.

But the reason for counting back is relevant in cash situations. It makes for a much cleaner transaction and builds trust. Thing is though it also takes time and isn’t productive in small cash transactions. About the only place it is still used is at the bank. Or in the black market I suppose.

If I am in a transaction that warrants a count, I’ll do one right there in the moment if the other person doesn’t. But it’s been a very long time since I felt the need.

 

[Crissa]

Counting back is dumb. I don't have the time for weird backwards math tricks. I know how to do math in my head, I don't need someone to then do a bunch more math needlessly.

Literally it doesn't help (we have registers to do that) and it takes more time.

-Crissa

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