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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7849791
04/20/23 08:33 PM
04/20/23 08:33 PM
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Joined: Oct 2009
Posts: 7,479
western mn
bucksnbears
trapper
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trapper
Joined: Oct 2009
Posts: 7,479
western mn
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My guess is it will all be gone soon.
swampgas chili and schmidt beer makes for a deadly combo
You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
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Re: My daughter won 19,000.00 on draft kings..
[Re: Mando]
#7849824
04/20/23 09:25 PM
04/20/23 09:25 PM
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Joined: Dec 2006
Posts: 1,218
Barnum, MN
ScottW
trapper
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trapper
Joined: Dec 2006
Posts: 1,218
Barnum, MN
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Buying a vehicle outright is a horrible investment. My guess is she's going to keep gambling. Why? It's not an investment and with interest today, having no car loan is good. Right on Mando!! Happy trapping! ScottW
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Re: My daughter won 19,000.00 on draft kings..
[Re: bucksnbears]
#7850490
04/21/23 09:12 PM
04/21/23 09:12 PM
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Joined: Dec 2006
Posts: 16,784
West Virginia,age 49
cathryn
OP
bvr-takr-upr
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OP
bvr-takr-upr
Joined: Dec 2006
Posts: 16,784
West Virginia,age 49
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My guess is it will all be gone soon.
Im.glad shes got something to show for it anyways.
IF IDIOTS GREW ON TREES THIS PLACE WOULD BE AN ORCHARD !
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Re: My daughter won 19,000.00 on draft kings..
[Re: Mando]
#7850515
04/21/23 09:41 PM
04/21/23 09:41 PM
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Joined: Feb 2015
Posts: 10,757
Iowa
trapdog1
trapper
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trapper
Joined: Feb 2015
Posts: 10,757
Iowa
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Buying a vehicle outright is a horrible investment. My guess is she's going to keep gambling. Why? It's not an investment and with interest today, having no car loan is good. A vehicle is not an investment, it's a necessity. (For most people anyway.) Buying one outright makes way more sense than financing it.
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7850519
04/21/23 09:48 PM
04/21/23 09:48 PM
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Joined: Jan 2014
Posts: 17,740
Central Oregon
AntiGov
trapper
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trapper
Joined: Jan 2014
Posts: 17,740
Central Oregon
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A vechile is a useful tool , how else are you going to get to work and make money ?
Report a post club - Non member
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7850530
04/21/23 10:05 PM
04/21/23 10:05 PM
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Joined: Oct 2009
Posts: 7,479
western mn
bucksnbears
trapper
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trapper
Joined: Oct 2009
Posts: 7,479
western mn
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My guess is it will all be gone soon.
Im.glad shes got something to show for it anyways. My guess is.... She will be in debt more then she won soon. She feels empowered now. It a vicious cycle.
swampgas chili and schmidt beer makes for a deadly combo
You have to remember that 1 out of 3 Democratic Voters is just as dumb as the other two.
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7851810
04/23/23 07:59 PM
04/23/23 07:59 PM
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Joined: Nov 2015
Posts: 829
Maine
SleekOtter
trapper
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trapper
Joined: Nov 2015
Posts: 829
Maine
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[quote=SleekOtter]Buying a vehicle outright is a horrible investment. My guess is she's going to keep gambling. Why? It's not an investment and with interest today, having no car loan is good. The majority of the time, you can get an auto loan rate below 7% APR. As long as that's the case, you're better off financing and investing the rest into stocks, or ETFs where the average return is 7%.
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7851818
04/23/23 08:16 PM
04/23/23 08:16 PM
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Joined: May 2010
Posts: 10,529
MN
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,529
MN
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That's not how it works in a high inflation environment.
If inflation 7% and you make 7% on your investments that year you broke even.
If you borrow money at 7% and pay it back with money that's losing 7% of its value you go in a big hole in a hurry
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7851879
04/23/23 09:50 PM
04/23/23 09:50 PM
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Joined: Aug 2011
Posts: 45,594
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,594
james bay frontierOnt.
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Pay as much down as you can and borrow as little as necessary,and pay it off as quickly as possible.
If you have to borrow,get loan insurance also and use it to your advantage to pay off the loan at an accellerated pace when you need to use it.
Forget that fear of gravity-get a little savagery in your life.
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Re: My daughter won 19,000.00 on draft kings..
[Re: Kevin Colpetzer]
#7852049
04/24/23 06:40 AM
04/24/23 06:40 AM
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Joined: Feb 2010
Posts: 19,720
pa
hippie
trapper
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trapper
Joined: Feb 2010
Posts: 19,720
pa
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Save a couple bucks to pay the earned income tax’s on it 😡 Good advice! Taxes, depending on her other income could be as much as 33%. Lay back 25% at least.
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7852256
04/24/23 11:47 AM
04/24/23 11:47 AM
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Joined: Dec 2006
Posts: 16,784
West Virginia,age 49
cathryn
OP
bvr-takr-upr
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OP
bvr-takr-upr
Joined: Dec 2006
Posts: 16,784
West Virginia,age 49
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They know and are prepared for taxes.
I feel it's better they bought the vehicle outright.
They could have financed it but they have paid 2 or 3 thousand more for the car by the time it was paid off.
Thwy didn't have dependable.transportation..now they do.
I'm worried about her gambling more now but all I can do is advise her and hope she listens.
IF IDIOTS GREW ON TREES THIS PLACE WOULD BE AN ORCHARD !
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Re: My daughter won 19,000.00 on draft kings..
[Re: cathryn]
#7852362
04/24/23 02:01 PM
04/24/23 02:01 PM
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Joined: Aug 2011
Posts: 45,594
james bay frontierOnt.
Boco
trapper
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trapper
Joined: Aug 2011
Posts: 45,594
james bay frontierOnt.
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You gotta read the fine print when they tell you zero percent.
There is a fairly hefty fee called "the cost of borrowing at 0%,lol.
Forget that fear of gravity-get a little savagery in your life.
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