How to use 15k

[Jhodgesatmb]

I personally have a very bad track record at innnvesting so I only invest in companies that I 'really' believe in. I am a true believer in Tesla as a company, and its vision, and a leader who can implement the vision (I do not care much for Elon as a person), and so I have bought (and will continue to buy) Tesla stock here and there. I believe that it will return to its high value before the CT is ready, at which time I may or may not sell some stock to pay for some or all of the truck. I agree that it should not be one or another with the Model Y purchase. Buy the Model Y and do with the $15K what you are going to do, but don't hang yourself out to dry.

 

[Luke42]

This poll has only volatile choices with unpredictable outcomes.

Add an item for "classic boring investments", and I'll be able to answer it.

What you do with your money is your choice, but the echo chamber here gets a bit deafening and y'all need to know that other perspectives exist.

P.S. For context, I made a life-changing amount of money from TSLA. I sat down with myself and had a good hard look at how that happened, and I concluded that I can't come close to reliably repeating it. So, I took my TSLA lottery-winnings and bought some nice boring ETFs.

 

[OHRJR]

This poll has only volatile choices with unpredictable outcomes.

Add an item for "classic boring investments", and I'll be able to answer it.

What you do with your money is your choice, but the echo chamber here gets a bit deafening and y'all need to know that other perspectives exist.

P.S. For context, I made a life-changing amount of money from TSLA. I sat down with myself and had a good hard look at how that happened, and I concluded that I can't come close to reliably repeating it. So, I took my TSLA lottery-winnings and bought some nice boring ETFs.

Sorry to ask this, but I’m pretty new to investing, whats a classic boring investment?

 

[Crissa]

Sorry to ask this, but I’m pretty new to investing, whats a classic boring investment?

Savings account, federal bonds, money market accounts, index funds, ... mutual funds, etc. (from more boring to more risk)

-Crissa

 

[empiredown]

Approaching 10 to 1 in favor of NOT keeping your debt lower when you decide to buy something you apparently don't have all the money for in the first place... The lenders are winning. And yes, you COULD make more money in the long run by finding another vehicle to put your dough in. But you COULD also fail miserably.

I have absolutely no idea how, per below, you think being in less debt is a more volatile choice with an unpredictable outcome...

OP, please realize most of the folks here are stock holders and having you place your money into TSLA only serves to also strengthen their holdings. This is not an agnostic nor objective representation of peeps you are asking...

Good luck!

SS

This poll has only volatile choices with unpredictable outcomes.

Add an item for "classic boring investments", and I'll be able to answer it.

What you do with your money is your choice, but the echo chamber here gets a bit deafening and y'all need to know that other perspectives exist.

P.S. For context, I made a life-changing amount of money from TSLA. I sat down with myself and had a good hard look at how that happened, and I concluded that I can't come close to reliably repeating it. So, I took my TSLA lottery-winnings and bought some nice boring ETFs.

 

[TheLastStarfighter]

Paying ahead only makes sense if the cost of the loan is higher than what you can do with the money. And that it won't unduly damage your liquidity in the case of an emergency.

-Crissa

What she said. Auto loans are usually among the better rates you can have. Reducing any other debt, obviously, should be a priority, as should have money for a rainy day.

With regards to investing, that's something really for you to decide. One thing I will say, is there are a lot of smart people saying a recession is coming. That presents both a danger, and an opportunity.

 

[Crissa]

Approaching 10 to 1 in favor of NOT keeping your debt lower when you decide to buy something you apparently don't have all the money for in the first place... The lenders are winning.

My last two auto loans were lower than inflation. Money just sitting around in bank account wasn't worse off, let alone in a savings account, as opposed to paying off the loan.

That's why I said it matters the cost of the loan vs what else you could do withe the money in the meanwhile.

If you had, say, any other sort of credit debts, I'd always say pay them off, as long as you have enough safety margin of cash to cover medical or mechanical.

-Crissa

 

[TessyT]

I want to thank everybody that helped me on me previous post. I have decided to place an order for a Model Y Performance. Im just deciding on color now, between black and white. While I do that, I was wondering if I could bother you all for some more input please. I was planning on putting 15k down; however, I just saw that Tesla might split its stock. Im not too big into investing, but I am curious on what you all would do with the 15k. Would you put it as a down payment towards the MYP? By TSLA stock? Buy Bitcoin? Or a combination of two or three? As before, any and all opinions are welcome and much appreciated.

 

[Quicksilver]

If fate handed me 15K I'd drop it into Tesla stock while it's in the basement.
Three for one split is slated to occur soon so there is that.
I just bout a small piece of property to flip and if I make a decent profit I'm going to pay off some small debts and put the rest into Tesla stock.

 

[Luke42]

If fate handed me 15K I'd drop it into Tesla stock while it's in the basement.
Three for one split is slated to occur soon so there is that.
I just bout a small piece of property to flip and if I make a decent profit I'm going to pay off some small debts and put the rest into Tesla stock.

But Tesla stock isn't in the basement.

Tesla's market cap is still valued 5x-10x more than the world's largest car companies. And those companies sell a lot more cars that Tesla does, so comparing Tesla to a larger car company assumes a very bright future for them.

If it were me, I'd take that $15k and keep it in cash until VTI establishes a solid uptrend, then hold until I have a plan (with specific dates) to use the money.

But that's just me. You do you. Having people I disagree with in the market makes it easier to make my trades, and also provides easy access to capital for Tesla-the-business. You do you.

 

[charliemagpie]

Whatever the short term brings... I only care about keeping my shares. I just keep buying.

They can drop to $1 for all I care.

I am confident they will be over $700 by 2024.

 

[Sirfun]

But Tesla stock isn't in the basement.

Tesla's market cap is still valued 5x-10x more than the world's largest car companies. And those companies sell a lot more can't that Tesla does, so comparing Tesla to a larger car company assumes a very bright future for them.

If it were me, I'd take that $15k and keep it in cash until VTI establishes a solid uptrend, then hold until I have a plan (with specific dates) to use the money.

But that's just me. You do you. Having people I disagree with in the market makes it easier to make my trades, and also provides easy access to capital for Tesla-the-business. You do you.

Has anyone brought the price of Bitcoin into the conversation? Tesla has a pretty big holding of Bitcoin, and I would think, it's going to add more bad news to the 2nd quarter report. I've been buying and selling TSLA on the way down (in my IRA rollover account). It's not easy, but there are profits to be made with daily fluctuations. I agree, it's extremely hard to forecast where the basement will be. But it's also extremely difficult to forecast where the ceiling will be also. At this time, most people are betting that the basement is WAY closer than the ceiling.