[Master Deep]

Originally Posted by Dammmittt

I bought the bimmer for 800 cash.

Actually I wanted an E36 M3 stick back when i was looking for a car. They were about 14k for well maintained cars, but my dad said it was too old. Then I said how about a regular E36/B5 A4 but that still was too old even though it was cheap. So I ended up w/ an auto E90 so that my parents can drive it to once in a while. He said I can buy a stick car when I can afford to buy the car on my own, pay gas, and pay insurance. But I'm Indian, so in my household grades basically determine everything. Good grades basically will guarantee you will have a nice job in the future and make money. At least for my premed track since that's how u get into Med School. So they r then willing to buy me w/e. But it has to be earned that way and organic chemistry is kicking my ass right now. I have to study 30-sometimes 40 hours a week. But it will pay off in the end. And getting stuff from my parents along the way for doing well also keeps me motivated.

I still love my E90. It would be perfect if it was stick. But I'm not complaining. I never want to get out of it when I'm driving anywhere and always want to take the long way home. I have 1 of 5 E90's in my school. lol Based on the location of my college and since most of the kids are commuters and its a small school, the lot is LOADED w/ nice cars. There are 10 AMG's including one kid who just got a brand new SLK55. And there are 2 E46 M3, 3 E36 M3, and 1 M Z4 Coupe. Not to list the countless "regular" bimmers, benzes, and audis. And last year I saw 2 Elises and a Viper.

[Master Deep]

And what other people say is true. Once you have a nice car, you will never want a cheaper one. I've been spoiled. So now that I want a stick car, it would have to be another BMW, or S2000 or something nice. I wouldn't be happy with just a stick civic anymore. So its best to start with something like a civic for a few years. And let him drive your car when you are not using it if you trust him after like 6 months. And if he is responsible, get him something nice later.

[Dammmittt]

Wait...are you the same guy that drove your car over a sidewalk and into a brick wall or something?

[Excellence]

Speeding kills. Save lives drive a Civic*.

How to know your Civic* is slow.

-Useless bodykit
-Complete blinding white tail lights
-Fake carbon fiber hood
-Rice Tube exhaust
-Useless spoiler to slow the car down
-Retarted non-aerodynamic vents.
-Fake dubs/fake spinners
-Streetglow
-Type R badge
-Automatic transmission on a 4cylnder.
-Useless lambo doors on your civic.

* also applies to RSX, TSX, Integras, Accords, Corollas and Preludes.

[x5love]

I agree with pretty much what everyone's said so far, if he's responsible, good student etc then get him a nice car (128 would be top of my list), but if he's not, get him a used volvo or something, still a nice car but incredibly safe, better choice than a civic IMO

[Excellence]

Originally Posted by x5love

I agree with pretty much what everyone's said so far, if he's responsible, good student etc then get him a nice car (128 would be top of my list), but if he's not, get him a used volvo or something, still a nice car but incredibly safe, better choice than a civic IMO

Thats true, If hes a good kid then get him a 128 or 323i.
Make sure none of his friends ruin his car though!

[Ru$$ell]

Originally Posted by jetblk328i

i thought id get him something safe seeing how he'll prolly crash it in like 1 year... any ideas?

LMAO!!! get him a rustbucket to learn to drive in

[Master Deep]

Originally Posted by Dammmittt

Wait...are you the same guy that drove your car over a sidewalk and into a brick wall or something?

Me? lol No.

I haven't had any dents, crashes, or tickets ever in my life so far. The paint on my E90 is flawless. Not a single ding in the roughly 15 months I've had it. *knock on wood*

[x5love]

Originally Posted by Excellence

Speeding kills. Save lives drive a Civic*.

It's really amazing to me how people think that just because a car isn't a BMW, or porsche or mercedes, that you can't speed in it. Ha! You can speed in ANY car.. go get your kid a 10 year old range rover, watch him speed and most likely flip.

Safety of the car should be priority, not just something lower class/cheap/old.

[Dammmittt]

Originally Posted by x5love

It's really amazing to me how people think that just because a car isn't a BMW, or porsche or mercedes, that you can't speed in it. Ha! You can speed in ANY car.. go get your kid a 10 year old range rover, watch him speed and most likely flip.

Safety of the car should be priority, not just something lower class/cheap/old.

Than buy him a used school bus

[inabis]

Originally Posted by Master Deep

But I'm Indian, so in my household grades basically determine everything. Good grades basically will guarantee you will have a nice job in the future and make money.

I think it's hilarious that all of us have the same mentality...the word "retirement" doesn't even exist in our vocab ....I found out it's not only an Indian thing...it's pretty consistent with all 3rd world countries...third world represent!!

[Master Deep]

Originally Posted by inabis

I think it's hilarious that all of us have the same mentality...the word "retirement" doesn't even exist in our vocab ....I found out it's not only an Indian thing...it's pretty consistent with all 3rd world countries...third world represent!!

Hahaha. That's kinda true in general. Except I've been maxing out my Roth IRA since I was 18. And my dad's already set for retirement. He plans to retire at 55...and still have money left to pay for my and my sisters eleventy billion years of school we might have.

[fobunited]

You have enough money for you and your sister's billions of years of school? Or your dad does? Does that take into account the average 6% inflation of college tuition?

Depending on how old you are, maxing out your Roth IRA most likely isn't sufficient to fund a retirement unless you are going to live pretty frugally. And if you were saving for education, why not a 529?

Lastly, the asset allocation of your IRA is pretty important and should be rebalanced at least once a year depending on market conditions, your changing risk tolerance, your age, and your changing life circumstances.

If you are really saving to retire, I would hope and advise you to contribute more to other investment vehicles other than an IRA and to diversify yourself. You are way ahead of the game, however, if you have been funding your Roth IRA since 18. Don't stop earlier just because you're ahead. Compound interest will continue to kick in and make it all the more worthwhile when you do want to retire.

Lastly, it sounds like your family has their head on straight if their plan is set properly for your dad to retire at 55, for you and your sisters' education to be paid for, and to teach you to invest early. If your dad is over the 2 million asset mark, he should definitely look into estate planning and insurance. You wouldn't want to be stuck with probate or estate tax!

[Master Deep]

Originally Posted by fobunited

You have enough money for you and your sister's billions of years of school? Or your dad does? Does that take into account the average 6% inflation of college tuition?

Depending on how old you are, maxing out your Roth IRA most likely isn't sufficient to fund a retirement unless you are going to live pretty frugally. And if you were saving for education, why not a 529?

Lastly, the asset allocation of your IRA is pretty important and should be rebalanced at least once a year depending on market conditions, your changing risk tolerance, your age, and your changing life circumstances.

If you are really saving to retire, I would hope and advise you to contribute more to other investment vehicles other than an IRA and to diversify yourself. You are way ahead of the game, however, if you have been funding your Roth IRA since 18. Don't stop earlier just because you're ahead. Compound interest will continue to kick in and make it all the more worthwhile when you do want to retire.

Lastly, it sounds like your family has their head on straight if their plan is set properly for your dad to retire at 55, for you and your sisters' education to be paid for, and to teach you to invest early. If your dad is over the 2 million asset mark, he should definitely look into estate planning and insurance. You wouldn't want to be stuck with probate or estate tax!

Good to know. I'm only 19 right now. Sister is 17. Turning 20 in December. And basically all the money I make in a year goes into my Roth. I know obviously its not enough to retire on...but seeing as I don't even have a real job yet...I plan to save a lot once I actually start working. And I've been messing around with stocks since I was in my teens (while learning from my dad) and also have another account setup for stocks and funds that aren't for retirement. And I'll end up paying my rents back most prolly in the future like 15-20 yrs from now or buy them a nice car or something. They don't expect me to pay them anything, but I mean they r paying like $800G's (granted we both get into med school) for both our educations from their pocket, so it would be nice to give them something back.

[Master Deep]

But yea, back on topic. I think you should get him an E46 325xi, B6 A4 1.8T Quattro. Something like that. Those wont let him get into too much trouble, and he has AWD grip to cover up some stupid mistakes. They aren't too fast but are still fun. I drove an x-type 2.5 for a while and its basically in the same class power wise and has AWD. AWD helps A LOT in the rain. Those cars are also really safe and not too expensive.

Actually having a slower car is sometimes more fun for city driving. It sucks on the highway for passing, but city driving and suburbs I get to put my pedal to the floor and redline through gear 1 and maybe 5000 rpm in gear 2 just to get to maybe 5 over and then I just cruise. And I find that fun to gun the car around, but still be going slow. Only thing better would be if I could have gotten something stick.

Other option is to give him your car and get a 335 or cayman or something.