Yeh, you have to factor in inflation so a million 20 years from now won't buy the same as 1 million now. But if you start saving when you are 19-22 or so, you can put away 100-200/month and be WELL off when you retire, not eating cat food. And if you wait to do this when you are in your thirties, you have to put away more like $600/month to have the same # of $$ in 20 years.

Hey, I give everyone props for dedication to their RX's. Mazda should take note and I think they have. I probably put in $300/month when I first bought mine. Probably have 3-6K in it now. I've cut it down to nearly zero this year. I do know everyone at my dealer by first name

But, I could have bought one when they first came out. Loved it but decided to pass because it was $30-40k. Bought a house instead and kept my old FC. Gave me a great tax write-off and I sold it over a year ago for a 30% profit. Waited and bought the FD for 1/3 the cost. Bought a new house with land, large drive and nice garage for the FD. Yes, the MF'r costs too much. But in 1 year I've made as much $$ on it (paper worth) as the old house in 8 yrs. I always double (or more) the principle payment so it will pay down at least 10 years early. As far as the rental, didn't much care what it costs (within reason), just what the net cash flow was. The rental income pays for the house + more than enough to cover maintenance costs + pay it down faster. In 15 years it will be paid off and the entire rental income (less maint) will go in my pocket. Just this one house will net me more income than my Social Security would. So the bubble does not come into play here as long as it is rentable. Here's an interesting analysis. Buy a rental, pay it off in 20 years, and look at your rental income. Compare it to what your pension will be at where you work. Might surprise you how little today's pensions are worth. The rental may even net you more income than your pension

People will always need somewhere to live. As long as you buy in an area with a strong job market, your house is a good investment. But buy it to live in. Second houses need to support themselves with the rent.

I don't really like zero down (unless you get the house real cheap). The mortgage rates are higher, and (for a rental) this kills your net income. So when the maint costs come, it comes out of your pocket instead of the net income. Better to put 10-20% down, get a better rate, and have better net income. But if you can handle breaking even, you can acquire a lot of property with the 0% down thing (since you're always conserving your capital). Just depends on whether you are agressive or conservative.

Yes, max out your pre-tax contributions. Where can you get a 27+% return (depending on your tax bracket). If you don't like it going down, put it in a bond fund (they average 7-9%). And don't take it out for anything. I made the same mistake. I hate to tell you what my $12k at 25yrs old would be worth today it I kept it in. Borrow the $$ at a low rate and aggressively pay it off. You can get in too much debt and the interest will kill you. Been there too...

And please take the free 401K match. Where can you get $$ for free? Great guaranteed rate of return...

Have fun with your FD but start saving now (in your teens if possible). You'll be very happy in your mid to late 20's with what you've been able to put away. This will take a load of pressure off of you when you hit 30 and beyond...

 

rotary-tt..good stuff man...you are on the ball.
Rent always adjusts itself for inflation too so you hedge out inflation risk right there!

One thing though....at this time a bond fund may be a poor choice especially to the age group thats reading this. Remeber, bonds and interest rates move inversely...so if rates go up bonds go down. Right now rates are bottom'ed..no where to go but up. Fiscal policy is changing too.

 

Yes, you're right about this too. But I got tired of watching my $$ go down the tube. I evaluated my 'portfolio' and decided that it did not have a fixed return, conservative component. I still have plenty of $$ in stock and stock funds to take advantage of the market going back up.

I think we are hijacking this thread. Sorry for that everyone. We should probably take this to the Lounge...

 

lol i stopped counting when i got over 10 grand. no i just try to hide how much money i spend from from my wife. hahaha little does she know how much RZ recaro seats cost.

 

I moved the Finance discussion to the Lounge: https://www.rx7club.com/forum/showth...hreadid=184818

 

wow over 60% of you have spent over $6000...

 

I'm almost embarrased to say, so I won't, but it is over 10k.

 

It's embarrassing. Especially with my Camaro and Mustang buddies whining about $400 wheels (that's the whole set, fellas) ..... I've easily spent $10K. And I'm still eyeballing more stuff .... it never ends.

 

i drop about $16,000 parts only no labor, and that is with hook up's. I get anywhere from 5-45% of just about everything.. and i think i need another 14k before im done.
andrew

 

Over the years I have bought a front strut, front and rear spoilers (stock) and an aluminum AST. However, it seems like all the competition is getting faster so I may need to up the ante in the not too distant future.

 

Yea, having a very expensive garage ornament is for the birds.
In Tx at least the garage can save you hail damage. My beat up(hail damaged) van is going to pay for my paint job on the FD. I'll see how it matches the rest of the SS metalic.

My FD - paid $16.5, in 2 months Ive spent $1500.+-. I'll spend another $3000 this month, and it still has the original motor in it and no major mods yet.

 

My car(94 SS R2): $10k cash
My girls car(93 VR R1): $5k cash

The 93 has about $10k in parts as of right now with another $10k being spent in the next few months. Rims and misc. crap.

The 94 has about.......hmmm.....i'd say over $50k. That's with me doing everything or one of my friends helping out a little. Unfortunatly that amount might be under by quite a bit. It gets pretty costly when you want everything one-off custom stuff.

 

I've spent 9k on mods for my FD.

 

Is this poll what is pent per Year?

:~) S

 

94 R2 for only $10k? How'd you get it so cheap if you don't mind me asking?

 

It only has 7500 miles and that was with a brand new Greddy T88 w/wastegate and SS manifold. The only catch was the car had a blown engine. It was from a really good friend who was into another project very heavy and needed some extra cash. I was just very very lucky to say the least! He would never have done it otherwise

 

In a year and a half, about $4.5k, with no major mods, just struts, a tranny, diferential fix, windshield, new used fenders, head unit, radiator hoses, tires, 2 alternator rebuilds, battery, and some other misc. stuff. For that much, I could have upgraded my turbos, gotten a decent stock mount intercooler, exhaust, a boost controller, fuel pump and maybe some injectors. Hmmm, I will definently need a job in college to pay for this addiction.

 

Still less than a year (8 months and counting)

Koyo Rad.
Billet AST
Replaced all water hoses
Down pipe
Dual tip RB exhaust
Pettit Cold Air Intake
Pettit Pullies
efini Y-pipe
PFS SMIC
PFS PMC w/key pad
Replace fuel filter
Clean/balance/calibrated Fuel injectors
Ceramic coated exhaust manifold and turbo housings
Converted to FULL non-seq
Silicon vac lines
Removed double throttle control
Hawk Pads
Painted Calipers (blk)
Linerized water temp gauge
fan mod
Turbo Timer
Toggle switch in Ashtry for 3 fuel/timing/boost maps
Boost Gauge
J-Spec Tail lights
Push Button Start
Redline synthetic Fluids in Diff/Tranny
Custom sub box w/ all new speakers

5k ???

the big money is yet to come...injectors, pump, ported motor, III's, p-fc

Then start with suspension and brakes

Then...

CRACK

 

too much!!!

 

12k in 10 months not including the price of the car

 

$25k in 1995 to buy it.

about $2,500 in deductibles on extended 7 yr/100k warranty.

+$2,000 back from suing Mazda Dealer ;*)

$34k in 2002 to rebuild it + all mods, paint, body work, all sorts of goodies.
$7k which was not yet installed on the car but sitting in my office when....

Car Wrecked/Totalled. [I guess I shouldn't have bitched about the wheels/tires/body parts)

Rebuilding again....what left of my original FD, another FD with a straight frame, Salvaged parts, and the parts that never made it. So much fun....

 

wow..i hope i dont spend as much as you guys..so far ive spent $800..turbo timer, apexi power intake 99 spec tail lamps and some beats

 

Started off kinda slow and am only at $1300 thus far... plenty more thousands more to come within' the next few months! Should I be happy or sad? Ahhh who cares...

 

99-spec turbos, engine rebuild (port + 3mm seals), pfc, hose job, dp, res. mp, intake, alum rad, 1300cc inj, fuel pump, boost cntrlr, short shifter, springs, torque brace, shocks, rims + tires, frt & rear strut bars, rear diffuser......
...$13k in almost a yr and a half

I guess it doesn't count as a mod, but i pay $2600 for 6 months of insurance (enought to buy another FD every 3-3 1/2 yrs)

 

I've dropped 28k in 4 years. I think I have changed everything but I still find ways to spend money on her.

C~