What Would You Rather Have: A New Car Today or One Million Dollars in Ten Years?

[ponyo]

Originally posted by: Googer

Originally posted by: Naustica
Car of course. Who says you're going to be alive in ten years?

You must be in your late 80s. That would make sence.

No, I'm older than 16 so I know death can happen to anyone at anytime.

 

[Rogodin2]

(S(

Uh, yea.

Rogo

 

[ponyo]

Originally posted by: CadetLee

Originally posted by: Lonyo
The money, since a beater would have to be up to minimum roadworthyness, so it couldn't be that bad.

Exactly. A car as described in the OP will not pass state inspection...and I can get a decent car for $1500..

Originally posted by: Rogodin2
The problem is actually time. You could die tommorow or 9 years from now-therefore the sure thing is the car.

You could take the car-invest the money wisely and make a million in 10 years.

Rogo

You can turn $35k into $1mil in ten years?

I turned 100k into 1 mil in less than 2 years during the dot-com bubble. So it's not impossible. Of course the burst took most of that away just as quick.

 

[sash1]

given my current financial situation, i'd take the new car now and immediately sell it. but that's just me, and that's just because i'm poor. and i'm in the extreme minority in this poll, too

 

[TXHokie]

It's been over ten years for me. Where's my money????

 

[Rudee]

The OP isn't the sharpest tool in the shed, is he?

 

[jlee]

Originally posted by: Naustica

Originally posted by: CadetLee

Originally posted by: Lonyo
The money, since a beater would have to be up to minimum roadworthyness, so it couldn't be that bad.

Exactly. A car as described in the OP will not pass state inspection...and I can get a decent car for $1500..

Originally posted by: Rogodin2
The problem is actually time. You could die tommorow or 9 years from now-therefore the sure thing is the car.

You could take the car-invest the money wisely and make a million in 10 years.

Rogo

You can turn $35k into $1mil in ten years?

I turned 100k into 1 mil in less than 2 years during the dot-com bubble. So it's not impossible. Of course the burst took most of that away just as quick.

So after ten years, where are you now? And 100k is a lot more than 35k..

 

[KnickNut3]

$10 mil, then loan against it. With no default risk you could loan it out for 7% or so, get paid $500k now

 

[FoBoT]

i already drive beaters, i only have 4 years to go!

 

[skyking]

We just got back from a meeting with a financial advisor, and he showed us a sheet with $3000 per year ( $250 a month ) going into a roth IRA with an average return of %10.
after 35 years, the total was something like $964,000
That's about a cheap car payment.

 

[Alex]

this is a no brainer... unless its a 10 million dollar car!

 

[ponyo]

Originally posted by: CadetLee

Originally posted by: Naustica

Originally posted by: CadetLee

Originally posted by: Lonyo
The money, since a beater would have to be up to minimum roadworthyness, so it couldn't be that bad.

Exactly. A car as described in the OP will not pass state inspection...and I can get a decent car for $1500..

Originally posted by: Rogodin2
The problem is actually time. You could die tommorow or 9 years from now-therefore the sure thing is the car.

You could take the car-invest the money wisely and make a million in 10 years.

Rogo

You can turn $35k into $1mil in ten years?

I turned 100k into 1 mil in less than 2 years during the dot-com bubble. So it's not impossible. Of course the burst took most of that away just as quick.

So after ten years, where are you now? And 100k is a lot more than 35k..

It hasn't been ten years yet but I'm in recovery mode. I've every intention of reaching my goal again but this time the old fashion way: hard work and investing. My business is good and I'm healthy so long as that stays constant, I can see no problem reaching my objective.

 

[Syringer]

Where's the $1m coming from? Is it a contract of some sort? If so, I'd take the value of what $1m in 10 years will be today, sell it to a bank/investor, and collect the $100k or whatever it is now.

 

[erub]

man, that 10 years would really suck if you were living in Phoenix in the summer time or somewhere waaaay up north in the winter..imagine an hour long commute home when its 115 with no AC..or driving an hour each morning when its 10F outside in the snow with no heat

obviously though, if you take this at face value, and you have other funds, of course you would take the 1 million dollars in ten years and drive whatever car you already have..but lets say you have no other money/possessions

 

[91TTZ]

Originally posted by: Whoozyerdaddy
I can afford a car if I want one.

I'll take the money.

But unfortunately you cannot read.


Driving a beaten car is a prerequisite to getting the money.

 

[SmoochyTX]

Money

 

[jagec]

The poll says "drive a $1500 beater", but the OP's post indicates a much cheaper, crappier car....which is it?

 

[KarenMarie]

I would take the new car now.

Who knows if I will be alive in 10 years to get the money.

but *I* get to pick the new car, right? Within reason?

 

[SludgeFactory]

lol at those example pics Show those to the girls at work, except change the scenario to $20 million, I bet they scream "NO"

I would do it. That million would cinch up my retirement, let it sit and grow while I waste all my salary every year, woot. Summer driving for the next 10 years would suck ass though!

 

[Googer]

Originally posted by: Rogodin2
The problem is actually time. You could die tommorow or 9 years from now-therefore the sure thing is the car.

You could take the car-invest the money wisely and make a million in 10 years.

Rogo

If you died tomorrow then money or a car wont really matter much, that is because you cannot take them with you. I also assume that you are one of those silly people whom dont bother to save for their retirement.

 

[wazzledoozle]

I would drive #2

 

[Googer]

Originally posted by: sash1
given my current financial situation, i'd take the new car now and immediately sell it. but that's just me, and that's just because i'm poor. and i'm in the extreme minority in this poll, too

I should have mentioned in the rules that you must keep the car for 10 years.

 

[JBT]

I've already satisfied the crappy car for 10 years so gimme my money!

 

[chr6]

for a million id walk everywhere i need to go for the next 10 years

 

[dethman]

Originally posted by: Googer

Originally posted by: sash1
given my current financial situation, i'd take the new car now and immediately sell it. but that's just me, and that's just because i'm poor. and i'm in the extreme minority in this poll, too

I should have mentioned in the rules that you must keep the car for 10 years.

yeah let's just keep making more silly rules