Best place to put this $75K?

[Singuy]

Oil change: 2k
Annual fluid:10k
major service x3: 10k
brakes x3: 3k
clutch x2: 8k

your site doesn't mention high performance tires so that's 12k

total cost: 45k

...so I exaggerated by 5k miss number police....which can be offset by a broken fuel pump or a dead alternator because we are talking about a 20 year old car by 2027.

[TexasHusker]

10 years!

Yeah after spending 50k in maintenance cost..what a terrible return.

Common misnomer/legend.

I've had 3 Ferraris. They cost a few hundred $ a year to maintain pretty much like any other car.

Never had a problem. Oil change is 50 bucks.

You don't drive a Ferrari but a thousand miles a year - not much is going to break over 10K miles.

[Singuy]

Common misnomer/legend.

I've had 3 Ferraris. They cost a few hundred $ a year to maintain pretty much like any other car.

Never had a problem. Oil change is 50 bucks.

You don't drive a Ferrari but a thousand miles a year - not much is going to break over 10K miles.

You owned three 10 year used Ferraris with 30-40k miles on them for 10 additional years and nothing broke? Never changed a clutch or tires? Didn't know they were more reliable than Toyotas.

Also if you do DIY oil changes or oil changes at the Jiffy Lube, you can't get top dollar for your resell. Apparently my Jag and your Range Rover cost 4x more to change the oil than your Ferraris.
.
Everything needs to be handled by a certified tech and well documented.

[dk16]

I would buy a gently used Ferrari 360 Modena and drive it on nice weekends. In 10 years it will be worth $150K.

I like this creative thinking. Entertain me more here. :-). Have you done it before and net a profit? Any data to back up this statement: "In 10 years it will be worth $150K"

[corn18]

I like this creative thinking. Entertain me more here. :-). Have you done it before and net a profit? Any data to back up this statement: "In 10 years it will be worth $150K"

After you hear from Texas, remember this is a data point of one. Do your own research. I have flipped fun cars without much cost and enjoyed the heck out of them while I owned them. But that is my play money and isn't required for retirement.

Also, drive one of these older cars before you buy one. They are not like a modern sports/super car. They are, let's say, much more interactive than the modern cars with all the nannies.

The other issue I've found when driving a collectible / investment car is I never really enjoyed it to the max. Always worried about resale vs. enjoying it.

All that being said, I agree with Texas that if done properly, you can have your cake and eat it too. I enjoy driving my toy car a lot more than watching my 401k.

Tom

[Spiffster]

If you want to get really creative, look into P2P lending, Bitcoin, and the altcoin thats blowing up right now, Etherium. I think the last time I recommended someone look into Bitcoin it was at $1000/ea, a month ago. Over $1300 now. Obviously past performance is no indicator of future performance, but either way, I wouldnt put any major amount of money in such an investment.

[dk16]

After you hear from Texas, remember this is a data point of one. Do your own research. I have flipped fun cars without much cost and enjoyed the heck out of them while I owned them. But that is my play money and isn't required for retirement.

Im not jumping to flip cars because it works for someome. I have no doubt, there are great profit opportunities out there with flipping cars but you have to know your stuffs well and enjoy it as your hobby. I'm just keeping eyes wide opened in this thread :-)

[dk16]

If you want to get really creative, look into P2P lending, Bitcoin, and the altcoin...

P2P and Bitcoin are on my list. I want to test out P2P lending with a small chunk of playing $. Didn't have much feeling and love with the bit coin. But that might change.

Didn't see anyone suggest rental property here?

[rennigade]

Didn't see anyone suggest rental property here?

https://www.savingadvice.com/forums/real-estate-investing/

Thats because theres an entire section dedicated to real estate investing. Head over there...you'll get the info you're looking for.

[kork13]

...... it can serve as savings for longer-term goals such as funding childrens' educations, buying into a business or rental properties, or just building up readily-accessible funds for retirement/early retirement..

I mentioned rental property briefly... But just keep in mind that rental property (-ies) require much more involvement than market investments. With that said, they can be a good option. I own one rental property myself, and plan to eventually turn my current house into a second rental when we eventually move. They're not a pancea as some may make it out to be, but definitely a decent option for part of your wealth portfolio.

[Singuy]

I do loads of p2p lending. My lending club is giving me a 8% return on avg, and I'm also getting about a 8% return from peerstreet.

Out of about 25 properties I've invested in on peerstreet, I have one that has been sent with a default notice so we'll see what happens there. 99% of the time, they refinance elsewhere and pay my principle plus penalty back. No one wants to default and be foreclosed on when the loan to value is about 70%.

I have over 73k invested in peerstreet, earning about 480/month on interest.

Another thing to look for is qualified preferred stocks. They yield about 6-8% of qualified dividend that will be taxed at 15%.

Lastly, depending on your tax bracket, muni bonds can get you 5% return tax free.

If you make between 400-600k/year like Texus and Corn, then maybe consider the Ferrari idea just for the heck of it.

[dk16]

I mentioned rental property briefly... But just keep in mind that rental property (-ies) require much more involvement than market investments. With that said, they can be a good option. I own one rental property myself, and plan to eventually turn my current house into a second rental when we eventually move. They're not a pancea as some may make it out to be, but definitely a decent option for part of your wealth portfolio.

Thanks. I missed that.

I'm not afraid of putting some works into rental and I don't mind fixing and doing home improvements like I did in my previous houses. Real estate would be a great way to diversify the portfolio instead of dumping all into market investments. So many choices, so little $ and time. :-)

[TexasHusker]

I like this creative thinking. Entertain me more here. :-). Have you done it before and net a profit? Any data to back up this statement: "In 10 years it will be worth $150K"

If you're a car guy, I'm dead serious.

I have owned three Ferraris and made money on all of them. You need to buy one that is at least 15 years old and is a 2-seater. No 4-seaters. And no strange colors.

My first Ferrari I bought about 13 years ago - a 1982 308 GTSi I paid $20K for.

New set of tires was $1000. Throw-out bearing $1300.

I'm pretty sure that car is worth in the $40s these days.

Bought a red 1990 348 TS for $40K. Had it 2 years and replaced a fuel pump. $600.

Bought a yellow 1990 TS for $36. Opted for different tire/wheel package for $2K. Timing belt, water pump, and lots of other stuff at the same time - $6000.

Oil changes are oil changes. Oil and filter. Spark plugs are spark plugs.

If I had $75K and loved cars, I would purchase a 1999 or 2000 Ferrari 360 in red or yellow. Whether it doubles in 10 years I don't know, but it certainly is going to rise substantially.

In 1981 I had a chance to buy a Ferrari Dino for $14,000. Those are worth $150K and up these days.

In 1978, my dad bought a 1963 Ferrari GTE needing some restorative work for $6500. Those are fetching in the $ hundreds of thousands these days.

There are all sorts of collector car options, but Ferrari is one of the few "sure things" in that space.

[dk16]

I do loads of p2p lending. My lending club is giving me a 8% return on avg, and I'm also getting about a 8% return from peerstreet.

Out of about 25 properties I've invested in on peerstreet, I have one that has been sent with a default notice so we'll see what happens there. 99% of the time, they refinance elsewhere and pay my principle plus penalty back. No one wants to default and be foreclosed on when the loan to value is about 70%.

I have over 73k invested in peerstreet, earning about 480/month on interest.

Another thing to look for is qualified preferred stocks. They yield about 6-8% of qualified dividend that will be taxed at 15%.

Lastly, depending on your tax bracket, muni bonds can get you 5% return tax free.

If you make between 400-600k/year like Texus and Corn, then maybe consider the Ferrari idea just for the heck of it.

Great return rates you get there.

A Ferrari + a McLaren if I make 400-600K/year. For now, if I was given one, I would have to park it on the street as I don't have space for extra vehicle.

[TexasHusker]

Real estate is great but is generally shunned (or shamed) in all areas here but the real estate forum.