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Old 04-02-2020, 12:34 AM   #71
Atmo
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Originally Posted by Dadhawk View Post
Like I said before its a different approach, as is @extrashaky and that's OK.

Talk about different, my estate planning attorney told me years ago that "if you do it right, your last checks will bounce". I think he was half serious.
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Old 04-02-2020, 12:26 PM   #72
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Talk about different, my estate planning attorney told me years ago that "if you do it right, your last checks will bounce". I think he was half serious.
Plenty of seniors who run debt at the end of their lives. Creditors can clawback assets given to family members if it’s less than 5 years (may be different in various states). its risky but plenty game the system.

I had a work colleague who had control of his mother’s house and assets in his name for like 10 years. She ran up debt on various credit cards and claimed bankruptcy just before she passed.
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Old 04-02-2020, 12:34 PM   #73
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First off, you don't need a car while you're in college, just take a full academic load and stick to your studies.

After you graduate, buy a used car and pay off your college loan.

THEN, invest in the stock market, which is pretty simple, buy low - sell high.

See all the money I saved / made you -


pa-pa - humfrz
Don’t forget that compounding over time will get you some very good gains that can not necessarily be made up by putting off investment.

I started accounts for my kids when they were born. You will be amazed at how money can grow overtime even if you do nothing but let it ride.

Obviously what you buy matters. Stick with good companies and reinvest all dividends to buy more stock.

I am a scientist not a financial guru - so do your own research as well.

Time goes faster than you think too.
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Old 04-02-2020, 01:30 PM   #74
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@Ernest72, not my plan but can see some gaming the system that way.

My attorney made the suggestion more to spend down excess liquid assets doing enjoyable activities while I can now that contingencies like life, medical and long term care policies are fully funded.

Other than mortgage debt, everything else is paid cash. And I agree, with a long enough time horizon, compounding works with the right investments.
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Old 04-02-2020, 03:20 PM   #75
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That does sound like a good idea, but I'm a college student, and I'll admit that I'm not as financially savvy.

Ive always been interested in stocks, but I haven't the faintest clue in getting it.

A 0.2% interest only applies to new cars though, right? I doubt that used interest would go that low. As of right now I'm leaning towards getting newer, used model as I feel that buying completely new will just depreciate.

That being said, there's a lot of different info from a lot of different sources here, its quite overwhelming, but much appreciated!


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If you have enough money to buy a newer model used car outright....DONT DO IT!

When you get out in the real world and pay rent, utilities and food and school loan, you will discover how difficult it is to accumulate wealth.

Don’t use appreciating assets to buy a depreciating one. In 10 years the car is ready for the crusher. Your sack of money would double or more in that time thanks to interest reinvested.

Instead read up on investments. Put your money to work. Let it grow.

Put 20% down on a house to avoid PMI

These ideas work well in our low interest environment. If 17% car finance rates return, it gets trickier.
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Old 04-02-2020, 04:38 PM   #76
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Originally Posted by humfrz View Post
First off, you don't need a car while you're in college, just take a full academic load and stick to your studies.

After you graduate, buy a used car and pay off your college loan.

THEN, invest in the stock market, which is pretty simple, buy low - sell high.

See all the money I saved / made you -


pa-pa - humfrz
Why the hell are you guys so damn responsible. I was slightly hoping I'd get some confirmation bias to pull the trigger, but your suggestions are on point.

I'm fortunate to have worked my ass off im highschool to pay off my college through scholarship.

When I start applying to med schools, I'll need to travel a lot for interviews so getting a car is definitely a must.

I agree, I'll probably spring for a later year model with a bit more wear and tear and build it up to my taste. The rest of the money I'll save. Maybe I'll learn how to invest during the pandemic



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Old 04-02-2020, 06:04 PM   #77
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Why the hell are you guys so damn responsible. I was slightly hoping I'd get some confirmation bias to pull the trigger, but your suggestions are on point.

I'm fortunate to have worked my ass off im highschool to pay off my college through scholarship.

When I start applying to med schools, I'll need to travel a lot for interviews so getting a car is definitely a must.

I agree, I'll probably spring for a later year model with a bit more wear and tear and build it up to my taste. The rest of the money I'll save. Maybe I'll learn how to invest during the pandemic



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Well, sounds like you're getten there -

About getting to interviews, I suggest you fly or take the bus, and /or Uber it -


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Old 04-02-2020, 06:11 PM   #78
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Don’t forget that compounding over time will get you some very good gains that can not necessarily be made up by putting off investment.

I started accounts for my kids when they were born. You will be amazed at how money can grow overtime even if you do nothing but let it ride.

Obviously what you buy matters. Stick with good companies and reinvest all dividends to buy more stock.

I am a scientist not a financial guru - so do your own research as well.

Time goes faster than you think too.
Now, ain't THAT the truth. Before you know it, AARP and the cremation companies will be buggen the hell out of you -
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Old 04-03-2020, 02:21 AM   #79
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normal is going to take a very, very long time. like 1-2 years in the best case scenario.
You sound so certain.

To me, a "very long time" is 5+ years. Once the weather warms up in about 4-6 weeks , things will be moving in the right direction. Viruses thrive in colder temps, die in warmer temps. Businesses opening back up, money flowing , people having more babies (again) , people consuming more, people driving more , more air pollutants , more particulate matter in the air, more auto accidents happening day to day, MORE.
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Old 04-03-2020, 11:02 AM   #80
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You sound so certain.

To me, a "very long time" is 5+ years. Once the weather warms up in about 4-6 weeks , things will be moving in the right direction. Viruses thrive in colder temps, die in warmer temps. Businesses opening back up, money flowing , people having more babies (again) , people consuming more, people driving more , more air pollutants , more particulate matter in the air, more auto accidents happening day to day, MORE.
Depends on if this comes back in the fall or even goes away. MERS another Corona virus survived at much higher temps in the Middle East. No one knows yet. Pretty warm in Singapore and it’s still there.
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Old 04-03-2020, 11:26 AM   #81
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You sound so certain.

To me, a "very long time" is 5+ years. Once the weather warms up in about 4-6 weeks , things will be moving in the right direction. Viruses thrive in colder temps, die in warmer temps.
It was 90F here on Tuesday, virus still spreading.
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Old 04-03-2020, 12:03 PM   #82
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Once the weather warms up in about 4-6 weeks , things will be moving in the right direction. Viruses thrive in colder temps, die in warmer temps. Businesses opening back up, money flowing , people having more babies (again) , people consuming more, people driving more , more air pollutants , more particulate matter in the air, more auto accidents happening day to day, MORE.
Unfortunately, the latest scientific research shows that the COVID-19 coronavirus is not susceptible to temperature. Warmer weather coming in the northern hemisphere is probably not going to result in a significant decrease in infections:

https://www.medrxiv.org/content/10.1....29.20046706v1

We all wish this crisis would be over soon. Of course everyone would like to get back to 'normal' life. Again unfortunately, that's not going to be the case. The coronavirus is going to be a problem and will require changes in behavior until an effective vaccine is widely available. The very best warp speed case for that would be 18 months, and more likely 2-3 years (even that would be amazingly fast, and I know this because I spent my >35 year career developing drugs). Until then -

https://www.technologyreview.com/s/6...gi_id=72556656

https://medium.com/@tomaspueyo/coron...e-be9337092b56

Stay safe everyone.
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Old 04-03-2020, 04:25 PM   #83
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Recover to what though

Financially, this thing has given us a issue that could easily last a generation

As for the recovery, Spanish flu went around the world for 2 years I believe

Lets hope a vaccine comes out soon because people are still travelling and spreading the virus.

I seen a cool video thing which tracked mobile phones, it looked like "spring break" kids were the vector that infected the US.

Here, it was people returning from cruise ships.


I'm not looking to get a new car, I killed my 86 recently, for at least 6 months, maybe longer.

In saying that, there are deals to be had now, but I personally believe that I would rather have as much liquid assets as I can at the moment.

Unless you are investing in toilet paper mines, or in hand sanitizer plantations.
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Old 04-03-2020, 04:48 PM   #84
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I spent my >35 year career developing drugs). Until then -


Stay safe everyone.
Who did you work for?
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