what would you do ?

I'm 47 years young, blessed with a beautiful wife and family my daughter is married my son is 15, I have a home with good equity, my problem is tomorrow I could pull the trigger and purchase a 1957 356A Flared Speedster or I could use the money in a investment in real estate that will easly double.What would you do ???

That's easy. Double your money and buy the car later. There's plenty of time to get that Speedy

buy the property

The property............ I'm 60 & retired, it took me 11 years to finally score my speedy but I'm now well off enough to enjoy.

Are you kidding, plenty of time to make money. Buy the Speedster and don't look back.

Buy the property with a cash back option and still get the speedster...It's good businesss to operate on someone elses money.

It's getting interesting, I'll see the $ in a year what i won't have is the memories and special time, when you think about it, time is the only thing you can't make up or make enough of.I'll be there one day (60 year young) but i have the energy now, if i make the purchase of the speedster that would give me 13 years of great moments in time - you can"t buy that. Haven't we all said i wish i would of.

BINGO baby! Pulled my trigger at 40. Now 4 years later I have memories that are PRICELESS. If you can do it, do it. You only control the present. Enjoy it now!

If you decide to buy the Speedster, let me know about the real estate deal. I'd love to double my money. By the way, the "good" equity you have in your home is only that. It's equity and NOT the same as cash, unless you plan on selling it and not having a home anymore. Don't buy into the American dream of debt. Own your home, own your car and invest, so you can enjoy the later years.

I'd do both - get a home equity loan to buy the real estate, and use the cash you have now to buy the speedster.

If somehow you knew tomorrow was your last day on earth, would you spend it 'signing real estate documents' or 'driving a your top-down Speedster on an open stretch of highway'?

The quandry is - you'll never know when its your last day on this earth!

Speedster = instant gratification
Real Estate = gratification sometime in the unforeseeable future, maybe break-even, maybe double your investment. With no guarantees in life, you can only hope to live to see that day!

I would think that the Speedster is an investment! Not only will you be able to enjoy it now, but will surely get your money back in most cases when it's time to pass her on....

I'm not a real estate genius, so take this with a grain of salt. Become a slum lord. By that, I only mean that owning something to let as Section Eight will allow you to have constant income while the state pays the note.
Then you can visit the property in your Speedster sooner, rather than later!

desi - as you can tell by the answers given here, this is an excellent place to ask for financial advice. Almost as good as the Barber Shop or supermarket check-out line.

That's right! I made my first million through my barbers recommendations. The check out line? What are you being funny here?

I think what most are trying to portray is when it's finally over and you need to think about what you have done in life, it is best to not have regrets. So if (IF) you can afford it, do it. If you can't, well, don't. But come on now, it's summer, the cars are HOT.

Desi, I think you have already made your decision, but you are looking for us to help you justify it.. well that is not going to happen here my friend! Your gonna get too many sides to one story on this site and the yare not all bad either... LOL.. Bottom line is this if you have max'd out your 401K and your IRA's for the upcoming year then go for it, cause everyone is going to steal your dreams, and that is excatly what they are till you ACT on them. Buy the Speedie and work overtime! Imagine the fun of driving to work with it too! Your surething investment doesn't often work out, nor will it get you a "Thumb's-up" sign at the next red light!

Live your dreams!

Speedster "D"

thanks for the post, well the moment of truth, coming in.... 1st place for the BEST ANSWER GIVEN is .............. DAVID D... 2nd place is.... MEL and.... 3rd place goes to ... JIM IGNACIO thank you all the effort and thought ( soul searching)this Wensday 4-5-06 the speedy will be trailered to my shop in Irvine Ca. to be dropped off. check back well have something cooking for the next trivia.

Took a drive to see an old friend today. He has a rather rough but absolutely complete Austin Healey 3000 that stopped driving but kept rusting away for many years now.

Dan's been saving for years to keep the mortgage paid up - make that appreciation buck so he'd have plenty of money to retire and restore the big Healey.

Instead, Dan bought a fully restored Healey just a couple of days ago. It will be delivered today or tomorrow. Dan cashed out his retirement - $242,000 burning a hole in the old pocket. Paid top dollar for a top shelf car. He's going to starting enjoying it NOW! But there's a little catch you see. He won't be driving it. I will be me or another of his friends behind the wheel. Dan's medication pretty much precludes him driving. Seems that when you are 3-4 weeks away from dying of cancer they give you really good drugs. Dan's days in his dream car will be as a right seater and even those are real limited.

Unless you absolutely cannot afford this car - buy it now. Don't wait. In this life, we don't know how many tomorrows that we get. Saving for the future is smart - but living the best you can today is brilliant.

angela

Desi, I'm a little late to pitch in my 2 cents but what a wonderful opportunity you have, or missed if you made your final decision. You said you have a 15 year old son, is he mechanical and interested in cars? If so what a father/son project it would have been to build a Speedster together and teach him the ins and outs of them and then teaching him to drive in it. My dad taught me a few things about cars but not enough to keep me from ruining a couple while I was a teenager. I only wish we had more quality time together.

Wow Angela; your post is very touching and it definitely hits home.

Just a note from another "older guy". I put off buying my toys until my girls were grown, out of school and married. Then I decided to spend the same amount each year as I did on their schooling and buy cars. (of course I also bought presents for my wife [first wife; current wife; roommate by marriage; foxy resident of my abode] that fulfilled her dreams) I continue to do that and don't regret it for a minute. I also don't regret holding off on my car/motorcycle purchases as the memories of providing for my girls is still better than the thrill of driving exotic cars. You just have to decide what is best for YOU. If you are happy I'll bet you are easier to live with and your family will be happier.

'nuff said!

Drive safe, smile wide,
Dusty

Angela - Thank You! Your message reminds me to live for the day...M