/biz/ - Business & Finance

Don't spend more than 10% of your net worth

>>9059972
a new car is fun for about a month then the excitement wears off.

>>9060007
whatever you spend on any car it will be 5-10x by december so if youre buying an audi you could be buying a ferrari/lambo/bentley in a few months.

Plus the bull run alt season is just getting started so youre being stupid selling now.

Go fuck yourself.

>>9060007
The thing is, 98% of my networth is tied into crypto, all in on LINK to be exact (not memeing).

Depending on how much crypto is pumping, my networth could be significantly higher on some days than others.

About $600 in checking, $1,000 in savings, 85k in crypto.

One personal loan for 20k and a car loan for 7k (I plan on trading my car in, which is worth a bit more than I owe so that should cancel out).


I make about $4k a month, and don't know how to budget for shit. I'm 20 y/o, no ones taught me this shit lol. Not making excuses though, but I think after assessing everything I CAN afford the car.


Car I want is 29k
Current car/car loan cancels itself out.

Now I'm left with 50k debt and 85k crypto.

I'm only concerned with paying off the personal loans, as I can pay for the car with my regular wages and be fine.

I'll sell $10k in crypto when link hits 60 cents, and another 10k at 70ish? Or should I tough the payments out and wait for link to go higher so I have to sell less of it.


Someone tell me if my plan is retarded or not, feedback is always welcome.

>>9060007
I cant jew out 2% of my net worth, Im in low 6 figures

>>9060135
sounds like a good idea man go for it. you seem like an intelligent young man and I'm sure that you won't regret this purchase

>>9059972
not sure if bait

>>9060135
so you have 20K debt already and you want to buy a 30k car? am i reading this correctly?

>>9059972
why would you ever buy a new car OP? One of the worst investments you can. Don't get suckered in buying a brand new car and wanting to look "cool" for a month. Take most of your profts and keep them in market and lease a car or buy a few year old audi that has already depreciated

>>9060135
>and don't know how to budget for shit. I'm 20 y/o, no ones taught me this shit lol.
it's hardly rocket science

>>9059972
SMOKIN ON BOOF AND ITS MAUI

>>9060135
alright here's a quick primer on how to budget
1) don't spend your money

All In on Link?

Yeah, buy the car. You'll be selling it to recover your crypto losses by the end of the year

>>9060472
I'LL CHECK THAT BITCH LIKE I'M MAURY

>>9060558
SORRY BITCH I DONT SAY SORRY

>>9060608
LOOK AT MY CUP IT GOT DOPE

>>9060630
bless your trap and bless your crypto portfolio

>>9059972
good choice don't forget the audi virtual cockpit. which model you like?

>>9059972
Get an S5

Btw this isn't bait, I'm actually 20, 20k debt 85k crypto, in addition to anything else i said up there. I plan on selling some crypto to pay for the debt but that'll be further down the road into the bull market.

My current decision is to wait until later in the year. I'm most likely gonna split half my stack into REQ to avoid a single point of failure.


My current car isn't terrible (2007 lexus is250, same as one in pic related but black powdercoated wheels instead).

Yes buying that new car is a bad idea right now, and while I do want it...I knew it'd be good to get feedback from other people before pulling the trigger because I was uneasy on whether it was the right choice or not. In the back of my mind I knew it was a retarded choice, but I didn't want to believe. It's all good though, just gotta wait till later for it.

I'm all for creating long term wealth and proper money management, but I also like to balance that with a mix of spending money on personal enjoyment. I'd rather buy a trip somewhere or things that I like while also investing rather than just amass this huge amount of money that sits around.


My worst nightmare would be to play it safe and end up as a millionaire at 65. What the fuck am I gonna do with money then? Give it to my asshole grandkids? Lmao, it's all a balance.


Got on my soap box a bit, but I just wanted to clarify my philosophy on the situation.

>>9060135
Definitely wait and don't get an expensive car, YET. I've been in the same position as you, thinking of buying a new Audi as well. It's the worst investment you can make that you are going to trade against a life changing investment. Think wise OP. Get your Audi RS7, A8 or whatever you prefer in 2-5 years.

>new 29k audi
So basically you want to buy a poverty spec Audi that will depreciate at an alarming rate? No one wants to buy a used poverty spec Audi that has the same maintenance costs as the more desirable models that enthusiasts will pay a lot more for.
Good luck.

>>9060715
nigger just sell your car and buy a g37S or 370z and if youre really trying to get lit turbo it.

>wanting an audi when youre a 20 year old retard

>>9059972
Audi 80 b3/b4 or audi 100 c4 or go kill yourself

>>9060472
>>9060558
>>9060608
>>9060630
>>9060646
Purpp is half the reason I want to buy an audi lmao


MURDA ON THE BEAT SO IT'S NOT NICE

BLESS YO TRAP

>>9060783
I've had an Audi S4 (B8) and an Audi S3 (8V).

gotta say they're spectacular cars

>>9060745
The car is new to ME, not new in general.

Specific one I was looking at is a 2015 Audi A5 Sportback.

https://www.cars.com/vehicledetail/detail/731352222/overview/

>>9060803
>tfw currently in a leased 8v s3
Turning this bitch in for a B9 S4 cheaper insurance and lease payments on the same terms.

>>9060074
U mad that he will sell and crash your coin?

>>9060900
my s3 was leased, turned it in last month, they quoted me 200 over what I was paying for the S3 so that wasn't gonna happen.

My s3 was tuned/turbo back etc. very fast car.

tuning potential for the B9 is insane, turbo isn't huge but easily will be a 400+ HP car with just a tune

>>9060960
200 over for the B9 S4*

>>9060775
lol why buy a car from the early 90's?

>>9060135
Buying a depreciating asset that immediately loses half of its value as soon as you drive it off the lot.

You deserve to be poor kid

>>9060803
>>9060900
What's your ideaologies on leasing cars?

Better decision financially? What brought you towards doing it specifically?

I'm thinking about it. I might be moving to Texas this winter/early next year, but when I do I'm allowed to break the lease no matter what. (I'd have military orders to do so).

>>9060995
Because it's cheap and durable.
Only an idiot would buy a 30k car just so they can show off how rich they are.

>>9061012
The car I want is a 2015, it's the exact car that's in the OP image.

It was $50k 2 years ago new, and it's depreciated down to 29k.

Most of the depreciation happens in the first few years. It's safe to say the price will now only trickle down, as the biggest dip has already happened.

I'm not at the point when I an afford the car I want completely new yet. I'll get there soon though.

>>9060824
>2.0 4 banger
>white
>beige interior
>29k
Nah, fuck that. I'd be looking at something older with more poke that an enthusiast will want later down the line. That thing will depreciate hard and won't even be all that fun to drive.

>>9060715
>turn 65
>scientists find out how to reverse the aging process
>the therapy costs a million dollar
>can't afford it because you blew all your money on depreciating assets

>>9061158
The only reason you'd want more time is because you didn't do all the things you wanted to do. I'm young and am making sure that doesn't happen. I'm living the life I want to live right now, and will never have the regret of wanting more time. Fuck it if it sounds cheesy, but I actually am working on several goals and pursueing a dream of mine I work on daily. That with tons of personal development and introspective analysis...I'm just trying to be a little better than I was yesterday.

Inb4 How about you learn how to budget lmao

Proper wealth managment is definitely something I need to assess, I can't afford NOT to. I've been putting it off a bit, as until recently I didn't think I had the need to learn such a skill. Now I know it'll not only help me succeed now, but set myself up for a better life later on when the numbers at stake are much greater. It's all about building a great foundation.

You only live once, but if you live it right....once is enough.

>>9060949
>implying i would ever buy a scamcoin like link

>>9061114
everything depreciates.
Audi's hold their value well though.
Even the 2.0t
>I've sold cars

>>9060007
Exactly. Hodl and trade your coins for 2 years. Then cash out 5 to 10% to get your car for same price

>>9060135
>>9060715

>600 in checking
ok

>1000 in savings
make it at least 6 months of living expenses

>85k in link
Ultra risky, but it might pay out. Most probably won't.

>20k personal loan
Pay it off, dumbass.

>7k car loan
Pay it off


Bottom line:
Keep your car or upgrade to a 10-12k one

If you want to spend money spend it travelling

>>9061505
>holds its value well
>went from 50K to 30k in 2 years.
I don't know the burger market all that well but that sounds like quite the depreciation to me? White with beige interior isn't desirable here and tend to be worth even less as a result.
Not all cars depreciate equally and rare, highly desirable, well-maintained models will appreciate. 2.0ts are run of the mill and will depreciate faster than one of the more desirable models.

>>9059972
I wasted a bunch of money on cool cars when I was younger. it wasn't until my late 20s I realized how retarded it is. they are fun for a few months and then the novelty wears off and youre stuck with an expensive car payment and never ending maintenance costs. they dont even get you laid more either.

>>9059972
audis are super hyper cheap in europe currently, every nation is banning diesel engines. you could probably get a slightly used a6, a5 for 15k lol

>>9061033
business expense, works better in your favor on tax paperwork because its a write off if you lease

>>9061738
>>9061649
This is the kind of wisdom I need though, and I appreciate it man. I didn't post this with the intention of trolling or starting shit. I was looking for genuine advice or direction from people who've been in my shoes before. I'm great in most aspects of life, but money management is one of my current shortfalls. I was a little shaky on the decision, but it's now clear that buying that car right now would be retarded.


I'm gonna first diversify my portfolio into 3-4 coins rather than one, (50% will still stay LINK though, but other 50 will be divided).

Then after the market progresses, I will pay off the 20k loan I have in 5k increments. Keep in mind, the only reason I have that loan is because I borrowed money to buy my crypto in the first place. I didn't have enough leverage to take full advantage of the crypto revolution. Now that I've grown the money, time to pay it back while selling a minimal amount of my stack.

Maybe when I get to $300k+ or so I'll look into buying a new car, but for now I'll stick with my current one and paying my debt off.

>>9061988
man you seem like such a fucking idiot

only figures you're all in LINK

>>9060135
as a fellow link marine i cannot let this go by... buying that car right now is the most retarded purchase you can make
please either restrain your childish urges to get a new car or at least wait a while before you do so.
you can thank me in the biz meetup 2020

>>9059972
>Spending the most rapidly appreciating asset in history in the most rapidly depreciating cars in history
Never gonna make it

>>9062017
It's funny you think I give a shit what you think lmfao. How weak minded do you think I am? I say keep it coming, it only motivates me to more to prove idiots like you wrong, and prove my support right.

I'm sure you're trolling about the legitimacy of LINK, and I really HOPE you didn't let the memes get to you. Realize your stupidity is possibly costing you the single greatest crypto investment of 2018.

Not to mention, yes most of my money is tied into crypto, but this is still only a side thing and not my primary focus.

I'm training to become a Pararescueman in the USAF. It's gonna be the single hardest thing I've ever done in my life. But it's worth it. I could be a millionaire, and will still be willing to go out there and risk my life in order to bring a fellow soldier home. My life has a purpose, and for at least the next 8 years it's gonna be Pararescue for me.

Afterwards I will focus all my attention on business, but that's a bridge I'll cross when I get to it.

>>9062105
;)

https://www.youtube.com/watch?v=eZW35UMuP98

>>9059972
worst feeling in the world when you ask the question--- is this the high point of my life?

>>9060135
retarded.
save the money and retire early

>>9062140
holy shit this has to be bait, if not thanks for the new pasta

>>9061033
Business expense can write it off plus personally I get bored of shit pretty fast so since i already know I'm not going to be driving it into the ground I can lease it and turn it in for something else without a substantial loss of cash

>>9062333
Dead serious, I'm not mad you can't comprehend it though. I'll do me and you do you. Let's see where we're at in 5 years then you can try to talk shit.

>>9062380
you being a complete retard aside, what is the point of switching a decently modern Lexus sports sedan for a 4 cylinder automatic Audi sports sedan (in coupe form). There's no additional driving pleasure to be gained, is it really just to look cool? To feel better about yourself?

just trying to understand the mindset of a blind consumerist normie

>>9062497
You're mistakingly putting logic into something that is completely subjective.

I like the audi more than I like my current lexus. That's it. There doesn't need to be any other reason. I've decided not to buy the car, but that doesn't change the fact that it is in my own taste and opinion to prefer the audi over the lexus.

It's like art, completely subjective. Only an idiot sees the world through only the eyes of his own. Realize everyone has their own opinions, views and tastes.

>>9062565
>I like the audi more than I like my current lexus

that's all I'm asking you fucking moron, what do you like about it that drives you to want to spend a third of your net worth on it.

the way it looks? that's it?

>>9062645
Why the fuck do you still care Lmfao....

Listen faggot, this is my last reply. But since I doubt you've ever seen an audi like that up close, let alone sat in one or drove one...I'll let you know.


It is fucking nice. You get the whole experience, the interior, exterior, driving experience and everything. It is what I want and that is it. I don't need to explain any fucking thing else.

Are there nicer, faster, and more expensive cars out there? FUCK YES.

Do I care? Fuck no.

For my price range and in my opinion, that is a great fucking car in every way. I like how it looks. I like how it drives. I like the interior. I like luxury cars. None of that shit should matter to your dumbass because it's all my opionion.

My current car is fine, but I'm not okay with fine. I'll work my ass off and be patient until my financial situation is well off enough to afford an upgrade. Then I'll get what I fucking want.

You're WAY to invested into this arguement, and I'm starting to feel bad for even replying to your loser ass.

Go ahead and turn my post into a copypasta, I dont give a fuck.

You seem to know who I am, but I don't know who the fuck you are. Keep it that way, loser.

>>9062957
You can get the same or better experience in a used BMW/Merc/Audi.

Get a used S5 with a V8 for $16k and stop being such a dumb nigger. (((Brand new cars))) are some of the worst financial decisions you can make.

>>9063012
Hell, I've seen C63's for $20K around here ..

Lots of miles on them yeah, but even taken maintenance into account it will be cheaper and a LOT faster than that brand new A5.

>>9062957
m240i manual bruh

>>9063054
C63 have an ass transmission good luck

>>9063012
this is legit good advice

>>9063012
>>9063077
this, the S5 with a V8 isn't that great though. absoltuley go with the S5 with the supercharged V6.

Also don't get the automatic. It's great until the mechatronics blows and the transmission is trashed.

>>9063074
Anything Mercedes is usually better quality than fucking Audi.

>>9063124
not even trying to promote Audi, was just making a valid point that is worth concern, nice dismissal though

https://www.cars.com/vehicledetail/detail/731352222/overview/

I've just emailed that dealer telling them to not accept a IS Lexus as a trade because the car has a blown headgasket and the owner is in massive debt and sells drugs for cryptocurrency. You're welcome OP. Car is a horrible choice. Everyone you drive past knows that that's an older Audi. You would have more fun in a WRX. Quit trying to look rich. You're poor! Rich people don't buy second hand Audi's.

>>9059972
Luckily as an audifag you don’t ever have to worry about having friends

>>9059972
>Doesn't you live off grid
>relys on the supermarket for sustenance
>"check out flashy car"
OP is definitely a brainlet who will be getting visited by *pic relat* for his car when society collapses in a couple years

>>9062957
jesus you're fucking autistic

>I doubt you've ever seen an audi like that up close, let alone sat in one or drove one

You disgust me, sniveling little poorfag acting like hot shit while asking for financial advice for his used VW. The late model Audi A4/5 is a miserable fucking VAG shitbox that I know all too well, it's truly hilarious to see you trying to describe it as some opulent limousine.

have a nice life my man, at least you've got motivation no matter how misguided it may be

>>9060135
Seems like an absolutely retarded financial decision to spend that much on a car with your net worth. You probably already know that (I hope). Congrats on the car I guess.

>>9063175
I'm going to say this honestly as someone who works in a high(er) end dealership. That A5 is not quick. Basically a Golf GTI that's slower because RWD. You won't have fun in it. Audi DSG's are a lot quieter than VW's with their stock tune plus sound deadening. The car is made for comfort.
On another note if you are itching to buy a new car, give your current car a really good detail. Go to a proper paint correction place. Give the interior a really deep clean and fix any little issues the car has. Get it serviced. See if it feels like a new car after. So many customers come in and trade to a similar spec car of the same or older year/millage and seem contempt for about a week I imagine all while making horrible financial decisions with ludicrous interest rates. Some come back and repeat that process every year while deepening the rabbit hole of debt just so they can experience something 'new'. Why I say detail your car is because it may give you that same experience as these morons I make commission off.

>>9059972
>Take profits from an appreciating asset and place them in a depreciating asset.

Good choice.

>>9059972
>About to spend most of my crypto profit
Stop right the fuck there. Buy a house, a rental property, hell buy a dirt lot in a desirable neighborhood, anything but a car. You're about to spend most of your profit on a depreciating asset, of which I'm guessing you have zero knowledge on how to maintain or work on. Not to mention you're so dead set on an Audi, good luck with that shit. You'll spend way more than you think on maintenance, especially if you can't do the basics yourself or have a buddy who will work for 6-packs.
Crypto is an investment. Property is an investment. Stocks, precious metals are investments. Make your money work for you. Cars are rarely an investment, not unless you're dealing with classics or very sought after models that weren't produced in high quantities.

>>9060074
>pls don't sell that my shitcoins won't crash
Fuck off faggot

>>9060135
Having 98% of your net worth in a an extremely risky asset that easily could lose 80%+ of its value is a horrible financial decision, but on on top of that you want to take on a ton of debt?

I’ve never adviced anyone to talk with a financial advisor, but you should seriously consider it. You have absolutely no idea what you’re doing. I’m not trying to be rude, it would 100% be worth it for you to consult a financial advisor.

>>9063262
Lol, the 2.0t is a shitbox aimed at sales reps, OP must have no clue about cars if he thinks anyone is jealous of it.
For the record OP, I'm totally jealous too. I think I'll trade my old csl in for one. Do you think they'd give me much for it?

>>9063012
This is the best advice on this thread.

>>9060135
>LINK
Definitely sell your LINK before your net worth drops in half after that shit crashes. Buying a new Audi would probably be a better investment, even considering the immediate drop in value.

>>9060135
>all in LINK
not surprised a retard like you would be all in LINK

>>9062957
Behold the true autists of 4chan.

>2.0T
>pigfat A5

Top kek. Have fun being smoked by highschool kids driving V6 accords.

>>9060135
>50K debt at 20y/o

holy shit. college meme, im assuming?

>>9063945
2.0T is the official cuck badge

>>9062957
This is your typical audi fan
>it’s worse than almost every other car in its class in every single way.. b-but I just like it

>>9060135
It hurt to read this

>>9060268
kek this

>>9060715
The real question is what will you do if u hit 65 and are not a millionaire

Social security dead by then. Country overrun by refugees. Ur fucking done

>>9064486
>>9063945
nice try autist, the 2.0T EA888.3 is by far one of the most advanced 4 cylinders and when tuned is an absolute monster of a motor.

Even at that rate, Audi's longitudinal 2.0 4cyl is also an impressive motor when paired with Quattro.

>>9064884
A good driver with a manual V6 Accord would smoke your pathetic excuse of "sports car".

>>9065039
good bait man, heres a (you)

even from a roll a V6 accord wouldn't stand a chance, and from a dig it would blow it out of the water

>>9065089
>8th gen V6 accord (a car from fucking 2008)
>271 hp
>3200lbs curb weight

>A5 2.0T
>208 hp (lol)
>3800lbs curb weight

get cucked retard

>>9065295
>>9065295
hey asstard, if you look at my original post im talking about the EA888.

https://www.youtube.com/watch?v=I42fuxmeyiY
tune and exhaust. 11.9 @ 114.

https://www.youtube.com/watch?v=8K3LhX-51kQ
just a fuckin tune, 12.3 @110mph

everyone knows Audi's are severely underrated from the factory.

>>9065347
Why the fuck are you posting modified S3's now? Not even a close comparison as it's a completely different kind of car compared to an A5.

We're talking stock A5 vs stock Accord.