Best Way to Pay for a Large Purchase?

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:D
 
ComplexHiAv8r said:
We paid $750 in 1987 for all three rings. At 27 years this year is $27.78 a year. Good ROI.

Our 10 year anniversary wasn't an updated ring. It was a 1966 Mustang GT. Isn't that better????
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Yes!

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Besides, and this is completely sexist, but if our fairer sex wants to be taken more seriously, they gotta stop going all "Smeagol" over a rock.
 
They say that about $80K a year is the limit for money buying increased happiness... More money, more problems? I doubt it myself. Besides, when you reach the point of being mega-rich you have people for that anyway.
 
NickH said:
They say that about $80K a year is the limit for money buying increased happiness... More money, more problems? I doubt it myself. Besides, when you reach the point of being mega-rich you have people for that anyway.
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My people will call your people
 
NickH said:
They say that about $80K a year is the limit for money buying increased happiness... More money, more problems? I doubt it myself. Besides, when you reach the point of being mega-rich you have people for that anyway.
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The problem with the $80k number is that the polling is done in aggregate. Where the happiness disappears for someone making more than $80k is when those difficult life circumstances come up, such as I mentioned earlier. Then the guy making $150k is a lot less happy than the guy making $80k. But if he was making $250k, his happiness would be unaffected, because he could weather the sudden increase in expenses.

Moral of the story: having lots of money is always better than having less.
 
dasleben said:
I grew up in SoCal, too. Actually, born in LA, grew up in San Diego. Don't use your upbringing to excuse poor choices.

I'll be honest: I spent 10 years living paycheck to paycheck. Last year though, I made more than I ever have (a solid, upper middle class income), and you know what I learned? It didn't make me any happier. In fact, it was a pretty big let down, since I always expected that once you made a certain amount, life would suddenly be great. Well, it wasn't.

You know what I really learned? What really created happiness was friends, family, being out in nature as much as possible, and simplifying. Lots of people don't really get it (most people think that a fulfilling life is measured by a big house, nice cars, and lots of gadgets), but really step back and watch those people go through life. They're not any happier than anyone else, and in fact, they're often less so. I feel bad for the guy fuming in traffic on his way home from work, aggressively driving his $120,000 BMW. He "made it," but really didn't.

Like I said though, lots of people will tell me I'm wrong, but I'll just say this: Being fulfilled by your life, as it is today, is a choice. That doesn't mean you shouldn't try to find a better job, or better provide for your family; it means that instead of fretting over acquiring things that you think might make you happy in the future, step back and realize that life is happening all around you today.

And that's your moment of zen for today, kids. ;)
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I'll second this. Sure, money buys security which doesn't buy happiness but rather buys less stress. Do I want more money, absolutely. Will it make me happy? Nah, that's up to me, it will relieve some worrying though. Health, family, and friends are where it's at, making money is the easy part in life. I could lose it all tomorrow, but I can go to a gas station and start making money again.
 
Derg said:
I'll take everyones income in excess of $80,000 so we can test the theory. :)
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No no no, you have enough to worry about with your kind of new captaincy still. I'll take one for the team and test out this theory.
 
drunkenbeagle said:
If you are under 45, put everything in an S&P 500 index. EVERY PENNY. Anyone that tells you that it isn't diversified is trying to sell you something. If they insist, ask to see a portfolio they manage that beat the S&P for 3, 5 and 10 years. They can't.
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Thank you for your advice, doing that already though! :)

Question, even though I do have a long way to go, what should you do once you hit 45? Put that chunk it in a Target Date fund and then keep investing the future contributions in an Index Fund? Split the future investments once you hit 45 at 50/50 between Index and Target Date fund?
 
I'm going to be the only one on here that says it.

Go buy a big damn ring and be proud of it and buy something she will be proud of.

I bought my wife a nice ring when I was poor and now that I'm less poor I don't regret it. Coming to an airline forum to ask for monetary or relationship advice cracks me up.
 
fly22 said:
I'm going to be the only one on here that says it.

Go buy a big damn ring and be proud of it and buy something she will be proud of.
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VERY well said. I completely agree.

I bought my wife a nice ring when I was poor and now that I'm less poor I don't regret it. Coming to an airline forum to ask for monetary or relationship advice cracks me up.
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So true, except you, @drunkenbeagle, and @ATN_Pilot I will take monetary advice from.
 
For those looking to read a good financial book that deals with a realistic psychological approach to money may I suggest...

http://www.iwillteachyoutoberich.com/book/

Much more down to earth from the psychological aspect of dealing with money than Dave Ramsey. For example, instead of the Ramsey approach of buying a car with cash, in this book the author maps out how to negotiate a lower price of a car and car loan by pitting car dealers against each other over emails.
 
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Seggy said:
Question, even though I do have a long way to go, what should you do once you hit 45? Put that chunk it in a Target Date fund and then keep investing the future contributions in an Index Fund? Split the future investments once you hit 45 at 50/50 between Index and Target Date fund?
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Don't worry about target date funds. Almost all of them have expense ratios that are way too high. And 45 is way too young to be worried about diversifying into bonds. By the time you and I are 45, life expectancy for a 45 year old will likely be over 80 years old. It's already pushing 79 according to the latest actuarial tables. I wouldn't put any significant amount of money in bonds until at least 60. Let it ride on the S&P.
 
fly22 said:
I'm going to be the only one on here that says it.

Go buy a big damn ring and be proud of it and buy something she will be proud of.

I bought my wife a nice ring when I was poor and now that I'm less poor I don't regret it. Coming to an airline forum to ask for monetary or relationship advice cracks me up.
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Buy something he can't afford? Nope. My wife's ring cost $5k ten years ago and I was damn proud of it, but that's all I could afford then. Now that I make a lot more I will upgrade the stone, but I never would have bought something hella-big if it would be buried me financially.
 
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