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 what car can I afford

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dwRK
post Feb 5 2024, 07:02 PM

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save until got enough...pay cash for a myvi... wink.gif

or alza for family car...

dwRK
post Feb 6 2024, 08:39 AM

the consummate chartist
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Senior Member
6,248 posts

Joined: Jun 2006


QUOTE(Wedchar2912 @ Feb 5 2024, 09:31 PM)
very similar thought process as mine back when I was working...

Just to share. After retirement, I modified the soft rule to 3 to 5% of networth, as passive income replaces active income. 4% is a good standard for passive income from networth.  smile.gif 
But in reality, I don't think it will come near 2% also if i am to buy a new car today.
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i would separate my funds into 4 buckets... not % nerworth

comfy living + medical + contingency + discretionary

discretionary will be for your holidays, cars, toys, etc... this way i can blow it all on a macan and world tour, etc... wink.gif

your limit to 4% means your kids can start their retirement right after you gg... hahaha

dwRK
post Feb 6 2024, 08:40 AM

the consummate chartist
*******
Senior Member
6,248 posts

Joined: Jun 2006


QUOTE(g5sim @ Feb 5 2024, 09:24 PM)
You check first see got banks want to do 3y car loan or not. If yes compare the interest to let's say 5y loan. Mine 4y also they dun want.
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i had a 2-yr loan...


 

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