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    1. Member LMike6453's Avatar
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      02-26-2019 06:02 PM #1
      I am a bit angry with myself and could use some help here. I've always wanted a Golf R and had 2 previous GTIs...and 6 months ago I bought one!

      It's amazing, and I absolutely love it. I can afford the $500/mo car payment (insurance is only $95/mo).

      But soon after buying it, I started getting into investing, selling things I don't need, and moved to a lower cost living situation that is closer to work. I am much happier and I can't help but think that I'm crushing my early retirement age by not investing that $500/mo into investments. I don't even drive it as much since I'm closer to work and ride an e-Bike when the weather is nice.

      What to do? I'm really tempted to sell it or trade it in for something else that's older / cheaper.

      What to buy if I do? What can possibly compare to something like a GTI or a Golf R for the price...

      Really thinking a manual transmission 4 cylinder anything that's reliable and peppy as possible.

      TIA,
      -Mike
      2018 Golf R MKVII
      Setup - Oryx White Pearl :: 4 Door :: Manual 6MT :: 19" Englishtown
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    3. Member Jimmy Russells's Avatar
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      02-26-2019 06:21 PM #2
      People make these decisions every day, they are tough. Delaying gratification is never easy.

      If you love the car and want to keep it, this answer is easy in my opinion. Keep the car, pay it off in a few years, and keep it for a decade or more. When you don't have a car payment, then invest heavily. Unless you can see yourself driving piles for the next X number of years so that you can retire a couple years earlier, there's nothing wrong with that option either but it depends on how into the car (or travel, or any other thing) you are. For me, I would hate to drive a POS every day, but that's me.

    4. Senior Member LT1M21Stingray's Avatar
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      02-26-2019 06:23 PM #3
      Quote Originally Posted by LMike6453 View Post
      ... and I can't help but think that I'm crushing my early retirement age by not investing that $500/mo into investments.
      This.

      Early retirement beats driving a new car.
      Quote Originally Posted by Mk1Madness
      Back when making your car faster and better handling was the big thing.
      Quote Originally Posted by Tavarish
      The car's best safety feature includes ejecting you in the moment of impact and wishing you the best of luck.
      Buy my couch!

    5. Member Smooremin's Avatar
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      02-26-2019 06:29 PM #4
      Another options of which has not been discussed...


      Make more money?


      Edit: you would get substantially more advice in TFL
      Quote Originally Posted by patrikman View Post
      Asking OT for relationship advice makes about as much sense as asking TCL what car to buy.
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      About 5 oclock I realized I needed to go to Costco for some white people stuff.

    6. Member LMike6453's Avatar
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      02-26-2019 06:47 PM #5
      Thanks for the quick responses! I am Currently 31 for reference and want to retire by 45 at the latest.
      4.5 years left on loan payments and I currently have equity if I were to sell it (I had a trade in).

      Quote Originally Posted by Jimmy Russells View Post
      People make these decisions every day, they are tough. Delaying gratification is never easy.

      If you love the car and want to keep it, this answer is easy in my opinion. Keep the car, pay it off in a few years, and keep it for a decade or more. When you don't have a car payment, then invest heavily. Unless you can see yourself driving piles for the next X number of years so that you can retire a couple years earlier, there's nothing wrong with that option either but it depends on how into the car (or travel, or any other thing) you are. For me, I would hate to drive a POS every day, but that's me.
      I have thought about this route but am thinking that a lower cost vehicle doesn't necessarily need to be a POS.
      I loved my 2012 GTI and that MK6 year range is so much lower cost while being a decent vehicle to DD.

      But definitely see your point about just paying it off and then dumping the extra money in at that time. Problem though is losing growth / compounding interest on the money for next 4.5 years.
      And also....I already lost so much value just by driving a new vehicle off the lot.


      Quote Originally Posted by LT1M21Stingray View Post
      This.

      Early retirement beats driving a new car.
      For sure! I was thinking lately that it's like a trophy sitting there because I don't use it much and would have more happiness out of traveling and other amenities in life.

      Quote Originally Posted by Smooremin View Post
      Another options of which has not been discussed...


      Make more money?


      Edit: you would get substantially more advice in TFL
      I'm always looking to continue to advance within my career to meet my goals quicker but doesn't change the fact of $500/mo extra in a vehicle payment vs investments.

      What's TFL?
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    7. Member Volkl's Avatar
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      02-26-2019 06:50 PM #6
      Quote Originally Posted by LT1M21Stingray View Post
      This.

      Early retirement beats driving a new car.
      I know a few people that were working real hard to get to an early retirement, only to die before they reached their goal.



      If you don't enjoy driving the car anymore, and that extra $6K a year to invest is going to really push you ahead in your plans, sure, dump the car.

    8. I got a poop emoji! CHEVY!! Time for an aSS's Avatar
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      02-26-2019 07:09 PM #7
      Demand a TT-RS
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    9. Member LMike6453's Avatar
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      02-26-2019 07:19 PM #8
      Quote Originally Posted by Jimmy Russells View Post
      The Finance Lounge

      The problem with looking at everything in the "I could have put this into retirement savings" angle is that literally every dollar you spend comes out of that. If you think that way too much you will drive yourself nuts. You need to come up with a consistent budget that you can keep so that when you spend $100 on groceries you're not feeling guilty about it. Some people get off on having fun and/or toys and some people like to have a big bank account, most of them are cheapskates .




      This is the problem I have with it. My mother for example got sick at 57, passed away at 60, never really retired. All along she had been planning to retire at 60. It can happen to any one of us. However my wife and I are on track to retire about 52 or so, so it's probably an easier decision for us.
      Ah thanks, I will contact a mod to ask them to move it to the Financial Lounge.

      I know what you mean about penny pinching and want to focus on housing and transportation mainly since they are biggest costs.
      I have a good budget on food and don't spend much in general outside of the above. For the guys that buy a coffee everyday...that's nothing compared to housing and transportation savings (if they aren't optimized already).

      Sorry to hear about your mother. Definitely a valid point to think about not wasting precious experiences in life while we are young, for a future age we may never achieve.
      2018 Golf R MKVII
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    10. Senior Member LT1M21Stingray's Avatar
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      02-26-2019 07:49 PM #9
      Quote Originally Posted by Volkl View Post
      I know a few people that were working real hard to get to an early retirement, only to die before they reached their goal.
      Non sequitur.
      Quote Originally Posted by Mk1Madness
      Back when making your car faster and better handling was the big thing.
      Quote Originally Posted by Tavarish
      The car's best safety feature includes ejecting you in the moment of impact and wishing you the best of luck.
      Buy my couch!

    11. Member Revolver1966's Avatar
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      02-26-2019 07:55 PM #10
      Buy an older R?


      Sent by Raven from Castle Black
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    12. Member A1an's Avatar
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      02-26-2019 09:10 PM #11
      If you love the car, pay it off early and enjoy it. Sell that silly e-bike and buy an actual bicycle to help add years to your life to enjoy early retirement when you get there.

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    13. Don't be me. Don't be a 'Rick' Cabin Pics's Avatar
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      02-26-2019 09:53 PM #12
      Quote Originally Posted by LMike6453 View Post
      Ah thanks, I will contact a mod to ask them to move it to the Financial Lounge.
      Good move, that's where this thread belongs.
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    14. I’m not a loser. I’m a winnah!! patrikman's Avatar
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      02-26-2019 10:11 PM #13
      I’d roll the dice, cash in my 401k, and buy that Integra Type R I’ve always wanted.
      this signature kills fascists.

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    15. Member Tornado2dr's Avatar
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      02-27-2019 07:08 AM #14
      Quote Originally Posted by patrikman View Post
      I’d roll the dice, cash in my 401k, and buy that Integra Type R I’ve always wanted.
      great idea? or GREATEST idea?
      Quote Originally Posted by Turbio!
      They make my ass look pretty.

    16. Member A1an's Avatar
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      02-27-2019 07:36 AM #15
      Quote Originally Posted by Tornado2dr View Post
      great idea? or GREATEST idea?
      Greatest idea until it gets stolen and stripped. They all get stolen and stripped eventually.

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    17. Member Code Red!'s Avatar
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      02-27-2019 07:51 AM #16
      It's just a car.

      Buy another one for cash after you've retired.

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    18. Member Strange Mud's Avatar
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      02-27-2019 07:53 AM #17
      Quote Originally Posted by Cabin Pics View Post
      Good move, that's where this thread belongs.
      good advice from a baller
      Quote Originally Posted by GreenandChrome View Post
      You're supposed to poop in a sock drawer, not sock in a poop drawer.

    19. This is me, 👇. Chillin’ like a bike villain! Metallitubby's Avatar
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      02-27-2019 08:03 AM #18
      Just get rich family members. That's what I do.
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      02-27-2019 08:05 AM #19
      Quote Originally Posted by LMike6453 View Post
      Thanks for the quick responses! I am Currently 31 for reference and want to retire by 45 at the latest.
      First, are you already maxing out everything retirement wise? 401K, IRAs, other investment options? If yes and that's working, then that $500 isn't going to set the world on fire.
      Are you married? Kids?

      Second, what are you going to do at 45? I'm 53, married, 4 kids and plan to work until 63ish. I could do things differently, cut expenses to the bone a retire earlier but then what? Golf, stare at the TV, read all day, build a hot rod?
      A few years ago I decided to live a little and take more vacations, see the world, not stress over nickel and diming my way through life. (having a couple of people close to me with 7 figures in their nest egg die before they got to enjoy it will do that to you)

      I know people that retired at/before my current age and are bored to tears and went back to work. My old boss cashed out years ago, golfed/fished 4-5 days a week, drank every night, couldn't stand talking to his wife 7 days a week and decided to go back into management consulting billing a premium rate and has never been happier. My dad retired about 5 years before he should have and regrets it - said he woke up every morning feeling worthless and thinking "how do I fill up all my free time"?

      To fully retire at 45, unless you have a hobby that will be your new FT occupation...on top of the financial aspect, you have to think about those 8 free hours a day for the next 30+ years.

    21. Member Code Red!'s Avatar
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      02-27-2019 08:33 AM #20
      Quote Originally Posted by tbvvw View Post
      Golf, stare at the TV, read all day, build a hot rod?
      Isn't that the plan? Or is reading about the Golf and watching TV about it going to tell you that it already is a hot rod?
      A loving welcome from TCL

      Quote Originally Posted by Metallitubby View Post
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      02-27-2019 09:12 AM #21
      Quote Originally Posted by Code Red! View Post
      Isn't that the plan?
      I guess the plan should first be having the knowledge that you can afford to retire at 45 and maintain a 30-40 year lifestyle you want? I can figure out a ballpark number that "I" would need if I were 45 and single and retired today...and it's a really, really big number. (keeping in mind there'll never be a pension, you'll have never maxed out SS, HC costs are out the a$$ until age 63 and I'm not sitting on a winning lottery ticket or family trust fund)

    23. Senior Member 6cylVWguy's Avatar
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      02-27-2019 09:19 AM #22
      To me, I'd rather have the nice(r) car while I'm still making money. I think I'd be less likely to spend money on a nice car at a point (particularly at 45) when I need to make sure I can stretch my money for another 30 (or more) years. And if all my money is stuck in investments, I'd always be concerned about a down market. And of course, there's always the early death or sickness piece of things. When you retire at 45, what are you doing for health insurance? That's not cheap and you are very far from qualifying for medicare.

    24. Member MotownSVT's Avatar
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      02-27-2019 09:23 AM #23
      Quote Originally Posted by tbvvw View Post
      First, are you already maxing out everything retirement wise? 401K, IRAs, other investment options? If yes and that's working, then that $500 isn't going to set the world on fire.
      This is kinda what I was thinking. I mean, if you have a job that pays you well enough to max all of that stuff out and still live comfortably, you can probably afford the $500 Golf R note.

      Plus, you might as well enjoy the Golf R now because that retirement money is gonna need to stretch a long way if you want to retire at 45. You might have to drive old rattletrap beaters to bingo in 40 years.

    25. Member Tornado2dr's Avatar
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      02-27-2019 09:24 AM #24
      Quote Originally Posted by Metallitubby View Post
      Just get rich family members. That's what I do.
      how do you feel about marriage for convenience?

      no prenup.
      Quote Originally Posted by Turbio!
      They make my ass look pretty.

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      02-27-2019 09:31 AM #25
      Quote Originally Posted by MotownSVT View Post
      This is kinda what I was thinking. I mean, if you have a job that pays you well enough to max all of that stuff out and still live comfortably, you can probably afford the $500 Golf R note.
      Yep. And those "other" retirement options better be 90% of your nest egg because that 401K and IRA, even if fully maxed out will not get you what you need by 45. And yes, if you are on a pace to be done in less than 15 yrs and you need that $500 to make it happen, it ain't happening. That $6000/yr is a drop of water in a 20 gallon bucket.

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