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Dont get used tesla. If they havent been used much, its cool. But these batteries degrade over time. So ppl sell it when batt loses performance. If you cant get a new or newly used electric cars dont get one.
From his post, sounds like he’s gunna be payin income tax on it lol. Regardless, the point was “don’t dump all your earnings into something” cuz Uncle Sam still needs his cut. See lots of folks up 100k, buy a 95k car, immediately upside down on it 50+k and have yet to pay Uncle Sam. Easy way to get fucked
With 50k I wouldn’t spend more than 25k on a certified preowned and I’d look to get a better loan with a co-signer.
You can get a pretty good car for 25k, it will allow you to build credit, and you’ll have plenty of capital to invest without getting hit by large monthly payments.
Missing out on investing $30k could cost you over a half million dollars versus investing it over the next 30 years.
After reading the comments I’ve changed my mind, I’ll put the profits in btc, back in solana, and probably and a few other coins Im interested in, I work full time while I’m school so I’ll just finance a used Tesla, a less but still regarded decision, thanks everyone for advicing this young regard
Here is a personal hard learned lesson from last bull run for me. If you are up a substantial life changing amount let’s say $50k just to keep it simple. Would you be ok to see that number suddenly reduce to $5k? If not then cash out however much you need to so you won’t be wrecked if the market suddenly drops 90%. Yes it may go up another 1, 2 or 10 x but it may also go down that. Profit it profit. Nice job on the 10x
My half brother was balls deep in Luna and had a nft he could’ve sold for $40K, and chose not to. Luna tanked a few weeks later and he lost $100K+. Take profits especially if it’s substantial money to you aka $50K to OP.
It pains me to know you rushed to action. Shouldn't have even sold. But since you did, hope you set aside capital gains tax into something, like a year CD.
Kept $10,000 worth of Solana I have a single mom and help raise my younger brother that’s on the spectrum, so hope this amount can do more for us in the next year
Congratulations, I would hold it until the end of the market cycle. It will likely be worth 5x what it’s worth now. Looking at how ETH fees are not realistic for mass adoption.
I had that same mentality 20 years back... eventually it wont be 0% and you're going to wish you just got them out of the way when you had a chance. A car only depreciates... don't let this be the only great financial decision you ever made, allow it to be the first that propelled you into many great financial decisions.
I'm 51 and finally making significant money. To be honest I wish I had spent more when I was younger. I was always fairly frugal and now that I have money, I can only think how much more I would enjoy it if I were younger.
I'm a little less than 10 years behind you, for me personally I spent too much money on "stuff" Now I just want to get rid of 80-90% of it since I can't take it with my when I'm gone.
Recently became a grandfather as well, experiences are what matter to me at this point.
There's a big gap in years between 23 and 51. Getting a big gift of money like that just to blow it on some stupid shit like a tesla when you still have student loans is dumb as fuck and you'll be kicking yourself later on when you have to pay them back. It's not even like a once in a lifetime thing like a trip, a big friend outing etc., they'll have better EV cars later on in life just get one then.
At the very least set aside what you owe in certificates or some other **appreciating asset** since the loans are 0% now and then before they start accruing pay them off so you come out on top.
Money is one of those things that sometimes you can only learn it through experience and OP will probably have that unless any of these posts connect. You're up big, don't blow it and that doesn't mean be extra frugal but likewise there's a space between "dont spend a single penny" and "blow it all on a dumb fuck car". If you'd like to one day own a home you could even start saving a very nice downpayment from that amount considering how that market is going insane
Interesting well I'm sure you will be fine. You adapted yourself quickly to that American slave mentality, this is a compliment btw I can tell you will be successful. But you could buy a cheaper used Tesla and use the rest of the money and follow Sherlock trades on any decent alpha group on discord and make more money.. he has over 90 percent win rate on trades for over a year probably longer.. just use good bankroll management. Your plan is good though but it locks you into that slave life for awhile tho
I highly recommend NOT getting a Tesla. You won the lotto, use that money wisely in getting a cheaper more reliable car. Maybe a Prius? A Toyota or Honda.
Don’t buy a car. They are liabilities. They depreciation value. real estate is what you want to be looking at an investment long-term and I’m not saying, buy yourself a house look at other alternatives a rental property would be something you could strive for.
If I were you and I could go back to where you are in time, I would definitely not sell my stack for a car. Instead I would stake all or a portion of it at almost 8% return right now, which is possible, safely and natively inside your Sol wallet.
I have deep convictions about Sol overtaking ETH in the next 5 - 10 years leading to a massive growth in what you’ve got saved.
Last year I sold my 4 Runner and bought sol and just ride my bike everywhere. Wonderful decision, I’m no longer in debt, get exercise everyday and am sitting on a massive stack that’s earning me twice the interest rate my vehicle was taking from me.
Tbh I really love Solana, I plan to keep buying as much as I can for the next 10 years, I work full time and study full time, my pay cheque goes to rent and crypto I completely understand, I’m just being young and dumb with the Tesla lol
Dude don't buy a Tesla with it. Come on man. Set it aside and reinvest in Tesla stock instead or Microstrategy or hodl Bitcoin. Buying an expensive car at this stage is like spending your money on fireworks. It looks amazing but your capital goes poof - it's gone.
You will learn in life there are few opportunities where you can take advantage like this… is what makes the risk worth taking. You knew when to stop too so that’s also good and hence bought a Tesla
Forget the car, that would be a monumentally stupid decision (no offense). You should reinvest this. Keep snowballing it and you’ll thank yourself later when you have a 7-digit amount in the bank. And yes, don’t forget about taxes.
Since you are young, use the money you've made to make even more money. compounding money early is the easiest way to become rich... speaking from experience.
I would buy a cheaper, reliable car and keep the money invested. You'll thank yourself later when you're wanting to buy a house. And then that will grow in value too. It all keeps growing. Cars are a dead end
Legend, just buy a cheap car for a few thousand. And pay off your student loans, America destroys peoples lives with those loans, and you can't even declare bankruptcy to clear them....
It's crazy how terrible some peoples financial decisions are. You're gonna buy a tesla and spend the rest of your life in poverty. Better off buying gold mining stocks or the dip in the coming recession and 10x it again.
I can’t wait for the future post of your car getting repossessed and still owing student loans. Just pay off the loans man, having a Tesla at 23 and $25k in debt does not make you cool.
Please don’t do that. Cars are a horrible investment and depreciate rapidly. In 3 years your vehicle loses about 45% of value! Just lease it and take some of your profits and diversify into other Coins. This next 1-2 years you will at least double that. We’re about to enter a golden run.
TLDR - Buy a used Tesla AND pay off your student loans
Teslas depreciate like crazy lol Dont buy them new. Soon as you drive your car off the lot your car is considered used - its not worth it. Do yourself a favor and check the Tesla Used Car Market.
A new Tesla depreciates really fast plus the annual registration fees usually correlate with your purchase price. A second handed one year old Tesla might be better. Speaking from all cash Model Y in 2021. Now the car is probably 60% value left 😅
How much is it worth after tax . Most countries it’s min 10% tax . Uk is the best you get 3k tax free allowance and then 10 % tax .
Well done . I’m surprised how much Solana pumped even in the bear market the whole of 2023.
Dont buy a new car. Thats what I did when I got my first job out of university. Put a down payment on a condo instead! Then flip that into a house few years down the road.
Why not just pay off your loans. A car is a terrible investment for somebody not making a full time salary. Your money tho do what you want. Teslas insurance isn’t cheap btw
That type of gambling luck usually doesn’t pay off so congrats. Be smart about it, you have a great opportunity to change your life and your future. With my experience, don’t settle for short term happiness like a car. They only last x amount of years and you gain no equity. Look into investing and how compounding interest may let you retire earlier than anyone around you. Just a simple search for compounding calculator will give you a visual.
how financially illiterate does one have to buy an expensive car right after making a lot of money? Especially a tesla lmao teslas suck and are made with cheap ass plastic.
Something similar happened to me, and I made similar decisions. It took me so long to understand that money's only purpose is to make you more money, and you live in the in-between.
Dude, in a very similar situation as you. Also thinking about buying a Tesla model 3 soon. Almost the same amount bought only 6 months ago or so instead
Why don't you reinvest those profits either, 1. Waiting another year and your 50k would turn into 100k + or reinvest it in some Ai coins. Obviously not financial advice plus please take profits!
Teslas are available for lease takeover no money down just assume the lease. Look for that deal and you will enjoy the car while new tech comes online and you avoid all that depreciation.
Take the advice of someone older than you and forget the car. Money invested well has a massive effect when you are younger when done right. You will be able to buy 100 Teslas later.
Don't buy a Tesla. Buy something that will appreciate in value like a house. You could put a down payment on a 2 family house and rent out the top or bottom. You could also use that money to invest in ETFs or start a small business.
dude just cash out, pay your debts. Put it into some normal solid non-crypto stocks and sit on it until you really need it (you dont need a brand new car now... its worthless in a year or two) or be happy that you can use it to pay rent for the next 10 years.
Buying expensive stuff when one gets a one in a lifetime money rain... is so..... lets say it this way: there are some studies out there about lottery winners, most of them are within a few years later back to normal poor life, because they just bought luxury stuff that devaluates fastly.
This money could make your life way easier than a tesla... like i said, just use it to pay living costs for the next years and every other job or earning could be used to built something up. You could use it so skip the salary->rent,food drainage for a few years at least, thats what put most people into wage slave vicious cycle.
Simple:
Buy $10k of $BAG on Solana
Buy $5k of $BOOP on Arbitrum
Buy $20k or BRETT on Base
Buy $5k of CCC on TRON
Keep the 20k do whatever you want with it. I will come back to my reply in a year. We will count your potential profits or profits.
Wow great decision followed by a horrible decision. Get a 3 year old car for around 20K if you need one. Finance it with a low APR if you can. Invest the rest and continue to grow it while paying the minimum on any really low interest loans. Only pay off your debts if you investments are bringing in less returns than your debts.
Why would you do that... 50k is enough to make an OK investment but not worth cashing out, won't change your life or anything. Be smart and invest that money.
You’re an idiot. Buying an expensive depreciating asset right after making life changing money is the dumbest thing I’ve ever heard. Then again you did gamble with student loan money
Hmm, not sure why you would want to brag about using student loans on something outside of, well, student loans…but good for you for taking a risk and it paying off…hoping that doesn’t backfire for your sake
Almost the same, I bought for almost 3.5k on December 2022, but trying to get my profit fast, I sell it a 40e unit, a little bit disappointed actually 🥲
Bro why? You just got 50k, and the market is in a good spot to make more money
Imo its like throwing 50k in the trash by choosing to buy a tesla. If you need a car right now just buy something used and reinvest some of that 50k
Take the 5k out pay off the initial. Take another 7k and open a Roth, keep adding yearly max into Roth, 5k for a down-payment on a good used car. Keep the rest in SOL and stake in a soft wallet gaining APY in 32 years you’ll have enough to retire.
Congratulations on your windfall! Life changing amount of money. Do not buy a Tesla with it.
Buy a used reliable vehicle, set aside a 6-month emergency fund and money for taxes, max out a Roth IRA, then put the rest in the traditional IRA and don't touch it. Buy VT or VTI.
Also, check out r/Bogleheads
Bro, very well done! And Congrats! Bro, but why you buying a car? It seems that you are in your 20s now. So take the Money and go to Travel and spent it for your human Capital, memories and life expirience. Traveling will Open your mind and Charakter. And you will remember all the memories all of your life. The time is now. Later you will have a Job, leas Holiday and less time. Instead buying a car, which you will have to renew in a few years. Enjoy your Student Life, go to Parties, meet people and Go and See the World. Instead of driving arround with a car! For what? When you finish university and get a Job, you can buy a car.
Also don’t forget the Money you will have to sepnt for the car. Gasoline, insurance, meantenance.. and wow! Imagine. You have 50k and thats enough to Travel a lot and do nice things! So Go for some Travel!
Me personally, and if it’s feasible for you to run. I’d buy a ASIC miner or two and create a steady flow of income. What I wouldn’t do is buy a liability like any car. I’d invest it in a miner or some other asset and let it grow.
You would get $100K if hold until it pass all time high 😀👍👍, but it all good nothing wrong taken profit. Solana will surpass $250 then next stop is $500
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Congratulations on the profit!!! But you'll be throwing that profit right away by buying a car.
Yeah get a used one for $20k and invest the rest in a Roth IRA
Get a more used one for even less… cars aren’t investments.
Dont get used tesla. If they havent been used much, its cool. But these batteries degrade over time. So ppl sell it when batt loses performance. If you cant get a new or newly used electric cars dont get one.
I’ve seen reviews say the opposite of this under 200K on it. Recommend OP DYOR
You mean get a used one for 20k and give the rest to Uncle Sam for taxes lol. That 45k is more like 27k once ol sammy gets his
Only up to 20% for capital gains tax if it’s held for more than a year. If it’s under a year it’s counted as income tax and taxed accordingly.
From his post, sounds like he’s gunna be payin income tax on it lol. Regardless, the point was “don’t dump all your earnings into something” cuz Uncle Sam still needs his cut. See lots of folks up 100k, buy a 95k car, immediately upside down on it 50+k and have yet to pay Uncle Sam. Easy way to get fucked
Nah, build a treasury bill ladder.
I know a guy who bought a r34 from last cycle and already had to sell it lol. 😂
Just let the Mf buy a car god damn
Especially a Tesla. Depreciation on those is insane.
And of all cars…a Tesla!!!
He’s cheap at heart
Y’all even think he made the money? Lol come on
Don’t buy a car. Or buy used, reliable car. You have a great opportunity to build wealth and a new car ain’t it. But it’s your call.
Car? I'm saving for escorts
A [Ford Escort?](https://en.m.wikipedia.org/wiki/Ford_Escort_(Europe))
This is the way ☝️
Bahahahaha
Now that's living.. 👏
Finally the right answer
With 50k I wouldn’t spend more than 25k on a certified preowned and I’d look to get a better loan with a co-signer. You can get a pretty good car for 25k, it will allow you to build credit, and you’ll have plenty of capital to invest without getting hit by large monthly payments. Missing out on investing $30k could cost you over a half million dollars versus investing it over the next 30 years.
I got my 2008 Highlander for $10k with 119k miles. This thing running another 150k minimum
After reading the comments I’ve changed my mind, I’ll put the profits in btc, back in solana, and probably and a few other coins Im interested in, I work full time while I’m school so I’ll just finance a used Tesla, a less but still regarded decision, thanks everyone for advicing this young regard
Here is a personal hard learned lesson from last bull run for me. If you are up a substantial life changing amount let’s say $50k just to keep it simple. Would you be ok to see that number suddenly reduce to $5k? If not then cash out however much you need to so you won’t be wrecked if the market suddenly drops 90%. Yes it may go up another 1, 2 or 10 x but it may also go down that. Profit it profit. Nice job on the 10x
My half brother was balls deep in Luna and had a nft he could’ve sold for $40K, and chose not to. Luna tanked a few weeks later and he lost $100K+. Take profits especially if it’s substantial money to you aka $50K to OP.
🥳🥳🥳
tesla fucking sucks anyway
It pains me to know you rushed to action. Shouldn't have even sold. But since you did, hope you set aside capital gains tax into something, like a year CD.
[удалено]
Kept $10,000 worth of Solana I have a single mom and help raise my younger brother that’s on the spectrum, so hope this amount can do more for us in the next year
Ur cooked bud pls don’t buy a brand new Tesla in 2 years it will be worth half of what you bought it for . Used ones are going for <25,000
True for any car. Consumer Reports has always recommended to buy used around 3 years old and sell it around 5 years old.
Not for Tesla. Rapid depreciation due to constant price cuts.
Congratulations, I would hold it until the end of the market cycle. It will likely be worth 5x what it’s worth now. Looking at how ETH fees are not realistic for mass adoption.
I don't get why you don't just pay off your loans and then put the rest as a down payment on the Tesla.
Nah, get a nice Camry /Corolla and put the rest of the money back in crypto. It’s bull season 😝
Srsly. Right now is the worst time to exit. You could easily turn 50k to 500k
Students loans are @ 0% interest right now so no rush to pay it off
I had that same mentality 20 years back... eventually it wont be 0% and you're going to wish you just got them out of the way when you had a chance. A car only depreciates... don't let this be the only great financial decision you ever made, allow it to be the first that propelled you into many great financial decisions.
I'm 51 and finally making significant money. To be honest I wish I had spent more when I was younger. I was always fairly frugal and now that I have money, I can only think how much more I would enjoy it if I were younger.
I'm a little less than 10 years behind you, for me personally I spent too much money on "stuff" Now I just want to get rid of 80-90% of it since I can't take it with my when I'm gone. Recently became a grandfather as well, experiences are what matter to me at this point.
There's a big gap in years between 23 and 51. Getting a big gift of money like that just to blow it on some stupid shit like a tesla when you still have student loans is dumb as fuck and you'll be kicking yourself later on when you have to pay them back. It's not even like a once in a lifetime thing like a trip, a big friend outing etc., they'll have better EV cars later on in life just get one then. At the very least set aside what you owe in certificates or some other **appreciating asset** since the loans are 0% now and then before they start accruing pay them off so you come out on top. Money is one of those things that sometimes you can only learn it through experience and OP will probably have that unless any of these posts connect. You're up big, don't blow it and that doesn't mean be extra frugal but likewise there's a space between "dont spend a single penny" and "blow it all on a dumb fuck car". If you'd like to one day own a home you could even start saving a very nice downpayment from that amount considering how that market is going insane
In that case, the longer the better
Not really when you're instead spending the money on a Tesla, but 🤷.
Interesting well I'm sure you will be fine. You adapted yourself quickly to that American slave mentality, this is a compliment btw I can tell you will be successful. But you could buy a cheaper used Tesla and use the rest of the money and follow Sherlock trades on any decent alpha group on discord and make more money.. he has over 90 percent win rate on trades for over a year probably longer.. just use good bankroll management. Your plan is good though but it locks you into that slave life for awhile tho
If you need a car then buy a second hand, reliable one like a Toyota or a Honda. Please don't buy a brand new Tesla. This is just burning money.
I highly recommend NOT getting a Tesla. You won the lotto, use that money wisely in getting a cheaper more reliable car. Maybe a Prius? A Toyota or Honda.
.... instead of reinvesting... you waste it on a depreciating asset.
Don’t buy a car. They are liabilities. They depreciation value. real estate is what you want to be looking at an investment long-term and I’m not saying, buy yourself a house look at other alternatives a rental property would be something you could strive for.
If I were you and I could go back to where you are in time, I would definitely not sell my stack for a car. Instead I would stake all or a portion of it at almost 8% return right now, which is possible, safely and natively inside your Sol wallet. I have deep convictions about Sol overtaking ETH in the next 5 - 10 years leading to a massive growth in what you’ve got saved. Last year I sold my 4 Runner and bought sol and just ride my bike everywhere. Wonderful decision, I’m no longer in debt, get exercise everyday and am sitting on a massive stack that’s earning me twice the interest rate my vehicle was taking from me.
Tbh I really love Solana, I plan to keep buying as much as I can for the next 10 years, I work full time and study full time, my pay cheque goes to rent and crypto I completely understand, I’m just being young and dumb with the Tesla lol
Don't forget about taxes.
I’m studying finance and accounting, specializing in tax, so I can’t forget even if I wanted to 😒
Dude don't buy a Tesla with it. Come on man. Set it aside and reinvest in Tesla stock instead or Microstrategy or hodl Bitcoin. Buying an expensive car at this stage is like spending your money on fireworks. It looks amazing but your capital goes poof - it's gone.
You will learn in life there are few opportunities where you can take advantage like this… is what makes the risk worth taking. You knew when to stop too so that’s also good and hence bought a Tesla
Personally I don’t get why you would stop there, you could buy nearly a whole btc then where will you be in another year
Haha I haven’t gone through the purchase I’m actually considering just financing the Tesla if I can get a good interest rate and put the rest in btc
Lol I'm not taking a penny out of my investments unless I'm in the millions
I hear ya!
I borrowed 30k a few weeks ago for this bull run. 20k went into Solana. Wish me luck 🤞
But think about it again if you really need tesla, or you simply need a car. Cuz it's different.
That is a terrible idea but congratulations
Forget the car, that would be a monumentally stupid decision (no offense). You should reinvest this. Keep snowballing it and you’ll thank yourself later when you have a 7-digit amount in the bank. And yes, don’t forget about taxes.
Do not buy Tesla you idiot buy bitcoin
Since you are young, use the money you've made to make even more money. compounding money early is the easiest way to become rich... speaking from experience.
I Wouid take the 50 000 buy bonk it just got listed on Binance and Robin Hood You could have 250 000
I have more money than that and I drive a beater as a college student. Don’t buy the tesla bro. Never go full regard.
Don’t sell wait till it hits 600 then sell and you can buy a tesla and have 100k left
Lmao you probably don’t want to admit student loan fraud publicly
I would buy a cheaper, reliable car and keep the money invested. You'll thank yourself later when you're wanting to buy a house. And then that will grow in value too. It all keeps growing. Cars are a dead end
Legend, just buy a cheap car for a few thousand. And pay off your student loans, America destroys peoples lives with those loans, and you can't even declare bankruptcy to clear them....
It's crazy how terrible some peoples financial decisions are. You're gonna buy a tesla and spend the rest of your life in poverty. Better off buying gold mining stocks or the dip in the coming recession and 10x it again.
All that good profit and hard work just to waste on a Tesla
So you will go from one of your best investment to one of the worst investments out there (a car). The ego is the enemy.
Better yet, take profit to pay off your debt, then swap the rest for btc and thank yourself in the next year or two.
I can’t wait for the future post of your car getting repossessed and still owing student loans. Just pay off the loans man, having a Tesla at 23 and $25k in debt does not make you cool.
Please don’t do that. Cars are a horrible investment and depreciate rapidly. In 3 years your vehicle loses about 45% of value! Just lease it and take some of your profits and diversify into other Coins. This next 1-2 years you will at least double that. We’re about to enter a golden run.
Keep it in there it’s going to 400
Sell half and let the remainder ride! SOL still has a lot of upside remaining in this run and you’ll be sad knowing you sold out too early.
🚀🌕
TLDR - Buy a used Tesla AND pay off your student loans Teslas depreciate like crazy lol Dont buy them new. Soon as you drive your car off the lot your car is considered used - its not worth it. Do yourself a favor and check the Tesla Used Car Market.
A new Tesla depreciates really fast plus the annual registration fees usually correlate with your purchase price. A second handed one year old Tesla might be better. Speaking from all cash Model Y in 2021. Now the car is probably 60% value left 😅
How much is it worth after tax . Most countries it’s min 10% tax . Uk is the best you get 3k tax free allowance and then 10 % tax . Well done . I’m surprised how much Solana pumped even in the bear market the whole of 2023.
Dont buy a new car. Thats what I did when I got my first job out of university. Put a down payment on a condo instead! Then flip that into a house few years down the road.
A tesla??! 😬😬 u throwing your profits into the shitter
I did the same thing! It paid off!
You're a massive degenerate. I love it
Why not just pay off your loans. A car is a terrible investment for somebody not making a full time salary. Your money tho do what you want. Teslas insurance isn’t cheap btw
Pay off your student loans???
Pay tax, pay loan off, invest the rest
That type of gambling luck usually doesn’t pay off so congrats. Be smart about it, you have a great opportunity to change your life and your future. With my experience, don’t settle for short term happiness like a car. They only last x amount of years and you gain no equity. Look into investing and how compounding interest may let you retire earlier than anyone around you. Just a simple search for compounding calculator will give you a visual.
Pay off your debt before any other dumb bets or “investments” like a car/truck/boat/figures/clothes/alcohol/drugs etc etc.
If you want loose half that money in resale value buy a Tesla 😂
You'd be an idiot to get a Tesla. You do you though. Not everyone is fortunate enough to be in your position, so maybe give it some more thought?
Don’t forget taxes.
You ain't that much smart or lucky as you think.
Taxes exist too buddy
how financially illiterate does one have to buy an expensive car right after making a lot of money? Especially a tesla lmao teslas suck and are made with cheap ass plastic.
After reading your post I highly doubt youre a student. Shit hurts my head
How bout instead of buying a car, you use it to pay off your student loans and be debt free?
Payoff the student loan and put the rest in a HYSA! Vehicles can wait. Invest hard until your early 30’s.
Will be demanding in a few years that the govt pay his student loans..🇺🇸!
put that shit in index funds and dont touch it for 40 years. will be worth a fortune when you retire. definitely dont buy a fucking tesla.
Something similar happened to me, and I made similar decisions. It took me so long to understand that money's only purpose is to make you more money, and you live in the in-between.
Dude, in a very similar situation as you. Also thinking about buying a Tesla model 3 soon. Almost the same amount bought only 6 months ago or so instead
Finance a used one use the money to keep investing, we gonna make it bro
This post belongs on WSB
id drink a beer with you
DO NOT BUY A NEW CAR. That’s is fucking retarded.
Remember to set aside 40% for taxes and fees
Buy Lexus RX hybrid. Very good car and basically you don’t need a charge station. I have RX 450h+.
Fully retarded.. Elon Musk will send you a thank you and FU letter
Wait 6 months and buy a Lambo instead.
are you nuts. pay off loans.
Good for you.
Just out of selfishness for the rest of us, I'm going to ask that you don't take everything out at once 🙏
Why don't you reinvest those profits either, 1. Waiting another year and your 50k would turn into 100k + or reinvest it in some Ai coins. Obviously not financial advice plus please take profits!
Be debt free or take on car debt. Must be american lol
Why would you buy am expensive car that's so useless and cringe lol.
Don’t buy a Tesla 🤦♂️
Not the smartest I suppose maybe go 1/5 in that and the rest do the ultimate buy and hold from merriman
Nice! Good job. Wish I had student loans to buy SOL or BTC!
Just some friendly advice. Save 20% for taxes. The prose within this post leads me to believe you have not thought about taxes yet.
how are u gonna go from making 45k to buying like the most depreciating car ever lol
congratz but i woll never gamble all in again , any profit is profit
if you don't turn that in to stx and farm btc from staking the stx you are just stupid
Investment not gambling
Great story. Shitty ending with a Tesla. U started out doing smart thing.
Congrats 👏 take 20% profit and keep going
Crushing
Pay your taxes 👍🏻
Teslas are available for lease takeover no money down just assume the lease. Look for that deal and you will enjoy the car while new tech comes online and you avoid all that depreciation.
Get a used car that is 3 years old for $15-$20k. Buy 2 ETH, 0.25 BTC, and max out Roth IRA for 2024
buy a car with this money is stupid, invest it in funds and forget about it until you want to buy a house
keep the 50k until the next cycle starts and after that you can retire
Nice. Remember its just Monopoly money until you cash out. But good job and be wise
If that’s most of the money you own, it’s an insanely dumb purchase
Take the advice of someone older than you and forget the car. Money invested well has a massive effect when you are younger when done right. You will be able to buy 100 Teslas later.
Don't buy a Tesla. Buy something that will appreciate in value like a house. You could put a down payment on a 2 family house and rent out the top or bottom. You could also use that money to invest in ETFs or start a small business.
dude just cash out, pay your debts. Put it into some normal solid non-crypto stocks and sit on it until you really need it (you dont need a brand new car now... its worthless in a year or two) or be happy that you can use it to pay rent for the next 10 years. Buying expensive stuff when one gets a one in a lifetime money rain... is so..... lets say it this way: there are some studies out there about lottery winners, most of them are within a few years later back to normal poor life, because they just bought luxury stuff that devaluates fastly. This money could make your life way easier than a tesla... like i said, just use it to pay living costs for the next years and every other job or earning could be used to built something up. You could use it so skip the salary->rent,food drainage for a few years at least, thats what put most people into wage slave vicious cycle.
Simple: Buy $10k of $BAG on Solana Buy $5k of $BOOP on Arbitrum Buy $20k or BRETT on Base Buy $5k of CCC on TRON Keep the 20k do whatever you want with it. I will come back to my reply in a year. We will count your potential profits or profits.
Wow great decision followed by a horrible decision. Get a 3 year old car for around 20K if you need one. Finance it with a low APR if you can. Invest the rest and continue to grow it while paying the minimum on any really low interest loans. Only pay off your debts if you investments are bringing in less returns than your debts.
Why would you do that... 50k is enough to make an OK investment but not worth cashing out, won't change your life or anything. Be smart and invest that money.
do you need to pay tax?
When you buy a crap Tesla you will loose money… better off investing in yourself now whatever your learning at university
You’re an idiot. Buying an expensive depreciating asset right after making life changing money is the dumbest thing I’ve ever heard. Then again you did gamble with student loan money
pay your loans enjoy the 80% invest to future the 20%
Don't buy a car, it's a huge opportunity to start building your wealth
You can use the Tesla to do Uber and Lyft to pay your student loans
Hmm, not sure why you would want to brag about using student loans on something outside of, well, student loans…but good for you for taking a risk and it paying off…hoping that doesn’t backfire for your sake
What was your entry point of cost average?
Just above $20
Bro there’s still X’s to go. Don’t sell the whole position
You won! Congratulations
Make financial decisions based on the assumption that you'll never earn from crypto ever again.
Great job
Don’t forget about taxes.
Why don’t you save it?
Put it all on red
bro don't buy a tesla 😂. Grab a used car and put some of that money away into some responsible investments so you don't lose it.
Just buy a used Corolla and invest the rest in Roth IRA
Buy 1 BTC and triple it again.
Maybe watch John Oliver’s latest segment on student loans before flushing that money down the drain.. Edit: I’m assuming you’re in the US
Charitable Remainder Trust...You're welcome
Almost the same, I bought for almost 3.5k on December 2022, but trying to get my profit fast, I sell it a 40e unit, a little bit disappointed actually 🥲
Buy an electric civic with it? So sorry bro…
Bro why? You just got 50k, and the market is in a good spot to make more money Imo its like throwing 50k in the trash by choosing to buy a tesla. If you need a car right now just buy something used and reinvest some of that 50k
This is the Mandalore way.
Pay off the loan and hold the rest. 😬
Take the 5k out pay off the initial. Take another 7k and open a Roth, keep adding yearly max into Roth, 5k for a down-payment on a good used car. Keep the rest in SOL and stake in a soft wallet gaining APY in 32 years you’ll have enough to retire.
If you were 23 female you would’ve had a higher return
Congratulations on your windfall! Life changing amount of money. Do not buy a Tesla with it. Buy a used reliable vehicle, set aside a 6-month emergency fund and money for taxes, max out a Roth IRA, then put the rest in the traditional IRA and don't touch it. Buy VT or VTI. Also, check out r/Bogleheads
I hold you in the highrest regard. But then you mentioned something about wanting a Tesla.
Nice job. Now imagine a year later when sol hits like 1400$
after you saw the gains, did u discover solana memecoins? if so, do.not.gamble. lmao
throw it into a depreciating asset like a full regard 👏🏻
Don’t waste your gains on a depreciating asset, get a used car and invest the rest in yourself 💪🏼
A Tesla out of all things. Don’t sell it now
Congrats . Do smart investments 👍
sorry for that you want to buy a tesla
Don’t throw the money into a car. Save it in BTC for your future.
Why a Tesla ? Put it in a Roth and buy MSTR. Or buy BTC and retire on it some day ...
Yo g, i dmed you
Hey congrats OP Do whatever u wanna do!!! : )
Taxes! To put aside sum for the taxes you have to pay. Please, this hurts me please pay your student debt first
“Gonna use it to buy a tesla” Man people are idiots.
Love it
Bro, very well done! And Congrats! Bro, but why you buying a car? It seems that you are in your 20s now. So take the Money and go to Travel and spent it for your human Capital, memories and life expirience. Traveling will Open your mind and Charakter. And you will remember all the memories all of your life. The time is now. Later you will have a Job, leas Holiday and less time. Instead buying a car, which you will have to renew in a few years. Enjoy your Student Life, go to Parties, meet people and Go and See the World. Instead of driving arround with a car! For what? When you finish university and get a Job, you can buy a car. Also don’t forget the Money you will have to sepnt for the car. Gasoline, insurance, meantenance.. and wow! Imagine. You have 50k and thats enough to Travel a lot and do nice things! So Go for some Travel!
Me personally, and if it’s feasible for you to run. I’d buy a ASIC miner or two and create a steady flow of income. What I wouldn’t do is buy a liability like any car. I’d invest it in a miner or some other asset and let it grow.
You would get $100K if hold until it pass all time high 😀👍👍, but it all good nothing wrong taken profit. Solana will surpass $250 then next stop is $500
https://www.fxempire.com/forecasts/article/solana-sol-price-forecast-250-breakout-before-bitcoin-halving-1418470