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      11-06-2011, 08:53 PM   #9

Drives: 2011 E90 M3 - AW/FR
Join Date: Jun 2010
Location: Orange County, CA

iTrader: (0)

It's ultimately up to you, but my advice is hold on to your money, and put it towards an appreciating asset, or invest it wisely. Do this, and by the time you're in yourr 30s, you'll be driving all the M3s you want, along with P-car and the like.

Buying a used one at $40K might not be a bad idea, but even then, I'd say it's a stretch. Your monthly budget isn't really taking into account any investment that will yield much for you in the short or near term, and you certainly haven't planned for any emergencies, or opportunities that may pop up that you'd want to take advantage of.

A condo isn't a bad idea, but if you can get a detached single family home for a bit more in a decent area, that might be the best investment for a starter home as well. Condos typically appreciate and depreciate faster than single family homes, so they are riskier to some extent. But they are cost effective, so long as CAM charges aren't too high. But aside from a few real estate purchases, I'm not expert. Check the off-topic forum here for better advice in that sense.

My general advice is that because you can, or think you can, doesn't mean it's the most wise thing to do. Without a high priced car, you can take greater risks right now without any realy maor consquences, and done right, will set you up for living it up in your 30s and beyond.

Lastly, I saw no mention of a GF or a wife. I recall an episode of the Cosby Show of all things where Theo was tellign his dad how he had enough money to spend on this and that every month. His dad then asked him if he planned on having a GF, and he said "of course!" And his dad took away the rest of the cash he thought he'd have on-hand every month.