Financial Advice. Can I afford one?

[snyderkv]

I'm 24 and have been making 100k/year for the last 2 years and will continue 2 years after that. Then it's back down to 60k. I have no bills.

My question is if I can afford a used 90-94 Diablo.est $80K for a used one in a year or so.

Also, if anyone has financial advice for me. Right now all my savings go into my Bank Of America account at 1.5% interest. It's all liquid but I'm not that thirsty.

I have heard people on this forum speak of getting a book keeper. Will a book keeper be able to recomend investers and lawers?

[vettebuyer5863]

Originally Posted by snyderkv

I'm 24 and have been making 100k/year for the last 2 years and will continue 2 years after that. Then it's back down to 60k. I have no bills.

My question is if I can afford a used 90-94 Diablo.est $80K for a used one in a year or so.

Also, if anyone has financial advice for me. Right now all my savings go into my Bank Of America account at 1.5% interest. It's all liquid but I'm not that thirsty.

I have heard people on this forum speak of getting a book keeper. Will a book keeper be able to recomend investers and lawers?

You might need a bookkeeper to help you run a business, but if it's an investor or lawyer you need recommended, I'd call a financial planner.
You might think about investing in a spellchecker first, though.

PS, I hear about Diablos being "worth" $80-ish, but I haven't seen a decent one for sale in that range yet.

[TexasF355F1]

Financially so, more or less you can. But in reality it's not a financially smart move. Before you start thinking about the current, think about your future first. You need to start a nest egg for your retirement NOW. If you're making 100K now and even dropping down to 60K in a year or two you can still live a very very comfortable life.

Bottom line, I say save you're money now and see where you are in 6 years when you get to 30.

If you don't mind my asking, what do you do? I just graduated from college and im trying to sort out my plans for what i want to do.

[Paganizonda23]

At 24 the insurance on a supercar like the diablo would be a killer not helped further by the running costs, so maybe something to think about there. Having said that if you can afford it, you would make alot of men, me included, very jelous. I hope you get the car you are after!!!

[euro72]

my advice is
1) if you cant pay cash for a "toy" then you cant afford it (you dont have to actually pay cash for it but you should be able to)
2) buying an exotic is the easy part, the hard part is looking after it without stressing about the costs, and to determine if you can afford the costs.... refer to rule 1

I was 25 when I first started saving for one (was earning alot more than what you indicated) I could have bought one (with finance) at 29 but I held out till I could afford to buy it outright. Just bought one last month for cash, and love it. I wouldnt have enjoyed it as much if I have to worry about money/repair costs/where to park it etc..

good luck and happy saving

[one_red_GTO]

For making 100K at your age, and spending 80 percent of one years pay on a car seems like an unwise choice. One point five percent is change at the bank as well, might as well be recycling (that would probably bring in more). As with the price of fuel the way it is, that high octane will run your finances into the ground. I'd think about it. Good luck!