I (22M) am about to start out a brand new place at my firm (On-site course of engineer) the place I will be shifting to the center of nowhere and residing off of my firm card (resort, rental automotive, groceries, flights, all the pieces apart from beer) for 8+ months. I will be working round 70 hrs every week and plan to gross about 100-110k pre-tax in that timeframe at 45$/hr. By the point I end this 8-month work stint I will be 23 years previous, and after tax, ought to have about netted about 81k (about 10k to pre-tax contributions 401k and HSA, so 71k after taxes; 65%* 110,000= ~71k). Excluding a automotive buy, in 8-12 months, my web price might be someplace round 120-150k. Base wage after I come again from the location job is 92k.
The automotive I would purchase is a 23′-25′ Subaru Outback Wilderness that are about 42k. I might undoubtedly be capable to purchase the automotive outright, or I may put like 30k and mortgage the remaining to maintain some financial savings available and nonetheless have a low month-to-month fee. Earlier than you guys say “simply purchase a less expensive, extra useful automotive”… nah I feel the wilderness outbacks are sick and I’ve pushed a sube since highschool and been razzed by my buds sufficient for it.. The outback is part of me. I additionally am conscious that upkeep on an outback is doubtlessly larger as a result of it has a turbo, and worsen fuel mileage.
This is able to undoubtedly be a enjoyable, luxurious, f-you sort buy, however what I would prefer to know from you guys is: is it dumb to purchase a automotive proper now and at my age? I may simply maintain driving my 2010 forester which has general decrease value to personal and make investments that 42k available in the market that may be price like 200k to 400k in 30 years relying available on the market fee of return. Cash is attending to be very precious these days…however on the identical time f it you recognize?
Thanks
