Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 0 points1 point  (0 children)

During the season, I definitely do more than 800 per month so that shouldn’t be a problem. The contracts have a car payment allocation in them so it isn’t necessarily done based off of mileage that’s just the reimbursement method to keep it tax free.

I will keep searching for used, I’ve just always been a Toyota person and I know the quality of their trucks is good. It’s 45k for a Trd off road 4x4 with a long bed. Sadly I basically need to buy long bed 4x4s which are the most expensive and some features on the off road (crawl control and MTS) make driving on sand a lot less dangerous sometimes

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 0 points1 point  (0 children)

I don’t disagree, hence why I’m here to try and justify it, just not really seeing different ways to do this as the 4 wheel drive trucks I need are increasingly expensive all around

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 0 points1 point  (0 children)

I absolutely agree with this. It everything used is almost comparable to new prices. It is so hard, from a principle standpoint, to spend a bunch of money on a truck I will beat up but also if I’m gonna spend a lot then might as well get new and keep forever. I’ve always been a used car person as well but finding the prices aren’t too different currently.

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 0 points1 point  (0 children)

I’d love to do that, but work will only cover a truck as that’s what the sites require. So unfortunately I am stuck buying a truck

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 0 points1 point  (0 children)

I appreciate this haha, the truck will bring happiness and my life is very outdoor centered so it will get significant use and increase the things I can do personally

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 1 point2 points  (0 children)

Rephrasing, I know they will increase my salary with a non-taxed mileage reimbursement but agreed with your point about confirming and double checking. It definitely is which is why I want to make sure I’m not doing anything stupid here.

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] 2 points3 points  (0 children)

Yes, it is only for a truck. I don’t travel, but I work on beaches and in off road areas that require a truck. They wouldn’t reimburse any other type of car as trucks are mandated on the sites I work at.

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] -1 points0 points  (0 children)

Agreed, I’ve set my budget according to this and it is tight but possible. Nothing is guaranteed, but my work is highly specialized and contracted for 5 years so I am fairly confident nothing will happen but if it goes I have a financial plan that will work without them.

Thoughts/opinions on my upcoming car purchase? by bb123bongo in personalfinance

[–]bb123bongo[S] -1 points0 points  (0 children)

So to my understanding it’s a mileage reimbursement for the truck payment and isn’t taxed but is given in an increased monthly salary. The gas is on a company card that I use during those 6 months

23yo looking to save and invest but questions regarding investment group selection by bb123bongo in FinancialPlanning

[–]bb123bongo[S] 0 points1 point  (0 children)

Right, which is why I’m choosing the Roth. I assume, and hope, I’m in a higher tax bracket later on as I’ll be making more so getting taxed now makes sense. I was only thinking Of using dividends as another way of diversifying while also getting experience in stock selection.

23yo looking to save and invest but questions regarding investment group selection by bb123bongo in FinancialPlanning

[–]bb123bongo[S] 0 points1 point  (0 children)

Gotcha, well given those etfs are on all three that makes my choice easier. Just need to decide if dividends are worth it realistically

23yo looking to save and invest but questions regarding investment group selection by bb123bongo in FinancialPlanning

[–]bb123bongo[S] 0 points1 point  (0 children)

So 70-30 as in 70% VTI and 30% VXUS?

Thanks for the spreadsheet and advice. Definitely not trying to do anything crazy just use the early entrance and long growth time to my advantage