Umm... no. Especially given how long people live these days, those funds will be needed for a long retirement.trekguy said:Would you spend 1/3 your net worth to purchase a Karma, assuming you were approaching 60 years old and ready for retirement?
Curious calculator ... it assumes you're borrowing for everything (car, house, etc). Admittedly I did take out a new 15-year mortgage to cover the house rebuild (I think I'm going to call it that rather than "remodel" since I'm paying more for the rebuild than I did to buy the place ).Weird Fishes said:Speaking of financial advice from financial professionals...and I'm certainly no financial professional myself, but....I believe the rule of thumb is to spend no more than 20% of your annual income on a car since cars are depreciating assets.
Here's a handy dandy calculator that takes a slightly different approach to help you decide how much to spend on a car. http://www.befrugal.com/tools/how-much-to-spend-on-a-car/
I agree with @drliu. This is the wrong place to be asking this question. You should be talking to your financial adviser about your financial situation and to us about cars, not the other way around. :-/drliu said:But better to get financial advice from financial professionals rather than car enthusiasts (I realize there is probably some Venn diagram overlap here, but my point still stands)!
How poeticrex said:It's time for Suzy Ortman (isn't she that pundit on CNN that tells people yes or no on purchases like this?)
I love my car, and I do check in on it like I did when my kids were new born... I like it better the the 911 Turbo and Ferrari Maranello - there is something magical about it. And, I know from neuro research that the brain does strange things when it falls in love. Our emotional decision making overwhelms our pre-frontal cortex and we buy first and justify second... But the tag line is "responsible luxury" and so check with Suzy or a financial planner, if this is a responsible purchase... we are saying this because we care, and want good Karma.