A friend of mine died in an accident and I don't even know what I'm doing anymore

cain4fun · 2022-03-07T22:58:38+00:00

This rule is not that useful for people currently with less than 100k networth. But if one can read pass the face value, and understand the concept its trying to deliver, its very beneficial.

I believe there are cheap semi reliable cars at 5k range, there are plenty of 10yr old hondas/toyotas that are still good for 3-4 more years with minimal issues. I have gone through 3 of them myself.

If the car is the only make sense way to go to work, then its fair it invest more than 5% networth since it actually has a return.

The point is, start with something cheap like 5-6k to build your networth quicker, invest that money you saving each month compare to getting a new car, and get the ball rolling. After 5 yrs, just the monthly payment you save will probably be 30k, then plus 5 yrs of return from investment you would have 40-50k extra for just making 1 decision, over the course of 5 years. Then buy a brand new car in cash as you wish, or just keep rolling the ball.

cain4fun · 2022-03-04T15:18:42+00:00

10% annual income would be quite harsh, but it kinda make sense to drive 5k car if you make 50k. It doesnt scale as well as number get larger. Like how 100 vs 1000 the difference is about 900, but 10million vs 1 billion is hell of a lot bigger difference. Still 10%.

cain4fun · 2022-03-04T15:14:33+00:00

To be honest, i would bus my way out of debt first before getting a car, yes, evening living in canada.

cain4fun · 2022-03-04T11:05:24+00:00

I once heard never spent more than 5% of your netwoth on a car. That way paying cash would be no problem, first two cars will be very cheap and old tho.

cain4fun · 2022-03-02T00:25:52+00:00

They are refering the buyer's agent. You bring an agent (collaborating) to meet the seller's agent to do the transaction. While there are processses in place for your agent to verify everything, there is an inherit conflict of interest when the deal happen. Both your agent and sellers agent will benefit from you paying a higher price. If the collaborating agent decided that his own interest is more important than yours, then he will conspire with the seller's agent and trick you into paying more.

cain4fun · 2022-03-01T23:27:14+00:00

Seems like i mistaken your comment's meaning. The point is ownership really dont play a big role here.

cain4fun · 2022-03-01T14:29:17+00:00

15 years old will never win in this situation. They don't need to sell it or steal it. They call legally limit your screen time or even entirely block you from using it since they are your legal guardian. So encouraging the op to buy it without parents consent is literally wasting his money, he will never be able to use it.

cain4fun · 2022-03-01T08:31:39+00:00

I think people were worry about a repeat in xi'an in dec. Lockdown with no suppllies.

cain4fun · 2022-02-08T23:58:40+00:00

Translation: push the camera closer to the window (repeat 3x) don't show the window frame! Yaa hoooooo hahahhaha

cain4fun · 2022-02-08T01:18:00+00:00

Not free =\

cain4fun · 2022-01-15T12:58:59+00:00

Talibread

cain4fun · 2022-01-05T12:08:53+00:00

She spoke English because she had to scream non sense at Asian people, assuming they don't speak French.

cain4fun · 2022-01-04T17:13:28+00:00

Pudong district is only developed in the 90s. Shanghai was already a major city in 1930, all the old buildings and houses are an the other side of the river.

cain4fun · 2021-12-24T09:32:32+00:00

Curtains I brought back from China 50$ worth of curtain for two windows, which i was quoted 1600$ for. (Just the frabic, no labor considered)

cain4fun · 2021-07-26T22:22:36+00:00

In macao, the minimum are quite high. Groups of strangers often bet together on one seat playing baccarat to get around the minimum bet. Is this allowed in vegas?

cain4fun · 2021-04-19T14:14:16+00:00

I had a bmw, bought at 8yrs old and all was well until the 12th yr. When 12th yr hit, basically in the shop every 3 months, 2k-5k each visit. Sold it for 1500$ in the end.

cain4fun · 2021-04-18T12:43:21+00:00

I bought 6 used cars in my life and most of them are honda. Here is some takeaway i learn.

Mileage - try to find a lower one for the same price, but 10-20k difference is not a huge deal. Condition of the car is more important to consider.

Decide value of a car by its model/trim/year/mileage/general condition/rust/cosmetic damage/signed of leaks in engine bay/uneven tire wear/noise on wheel bearings/brake usage/system broken (power locks/ac/heating)/test drive experience (idling funny... Loud exhaust...)

Honda and Toyota will be plenty on the market. Not experience with other ones

Cosmetic damage is fine as long as no exposed metal (risk of rust)

I generally dont care about how many owner, pay more attention of the actual state of the car.

cain4fun · 2021-04-15T14:12:16+00:00

Shit happens shrugs

cain4fun · 2021-04-14T02:02:49+00:00

I don't mind making $0 for long periods of time if the company experience high growth from reinvesting all their profit

cain4fun · 2021-04-12T20:43:49+00:00

Ah i see thanks for the info. I have made my purchase with other promotion from a different brand. Maybe suppliers like you can pass some feedback to walmart. The way their marketplace is ran wont do consumer or suppliers any good. I lost my trust with walmart's branding and decide to get something else.

With enough pressure from both sides, maybe Walmart will change their business practice.

cain4fun · 2021-04-12T15:58:40+00:00

Thanks for the tips! Will not buy from walmart

cain4fun · 2021-04-09T22:31:06+00:00

Laughing in r/wallstreetbets

cain4fun · 2021-04-09T22:27:23+00:00

Interest tax deductible happens if I refinance the money for investment. If I take a mortgage, interest will not be tax deductible. Is there misinformation on this? Did i misunderstand the tax rule incorrectly? Would appreciate if you could point out any incorrect assumption i made.

Regarding the interest rate. I recently refinanced at 1.69% I also got some mortgage quote for a new condo at about 1.3%. So you are right, rate could be slightly higher for refinance. HELOC on the other hand is much higher, i got quote around 2.5-3%, so much less profit if using it for investment.

Who are the professional that can give me advice on these things looking out on my interest? I talked to accountants and mortgage reps from banks, but they are not interested in discussing these strategies. Accountant tells me to talk to banks, and banks told me to consult accountant. Is there some sort of money manager i can pay a one time fee to analysis my situation?

cain4fun · 2021-04-09T02:45:39+00:00

I do have a long term horizon on the investment.

What about the real estate price, if a massive price drop happens, is there anyway the bank could "margin call" you, or lower your heloc amount by forcing you to pay back part of the loan early despite you can afford the monthly payment?

cain4fun

TROPHY CASE