I'm 22 years old. In my current financial situation I'm able to max my Roth IRA, 401k, pay rent/food/gas/insurance. and still have over $1000 left over every month.
I have 15k in a savings account, which is about 6 months worth of spending. I have zero debt, no loan, no liabilities. Obviously I'm not going to blow all of my extra cash every month, I have an investment account that I put some of it into. I'll probably get a house in 15 years or so, but not any time soon. If I'm saving nearly 28k a year(tax free) and have a reliable job with a great safety net, is it dumb to do something like get a new $35,000 car? Or eat at nice restaurants every weekend? It's throwing money away, but I want to do it, which makes me feel bad.
You take that 35k and wait 40 years and it turns into hundreds of thousands of dollars. I feel like I'm squandering my time and money by getting a car now, the one I have is perfectly fine. and I could get a car 5x as nice by waiting and buying one during my inevitable mid-life crisis.
Any advice?
edit: Why was this auto-tagged as retirement? It's got nothing to do with that.
Submitted March 10, 2017 at 06:53AM by CallMePyro http://ift.tt/2mqG5v8
