[Mr_T]

Originally Posted by ZGirl4U

makes sense to pay down debt right now.

As always, assuming the cost is higher than what you can make investing the money you are paying back. i.e. if you CC is charging you 18% on your rims

Originally Posted by ZGirl4U

since i cannot really control where they are investing my money...

Got it, never a good thing if the choices suck

Originally Posted by ZGirl4U

plus when i buy my first home, i can withdraw money with penalties

You can withdraw from your 401k with penalties too, I assume you mean no penalties. I don't know much about the roth other than the max allowed contribution per year is less than a 401k and I don't qualify for one.


M

[cycler]

Originally Posted by Mr_T

Cycler...I hear you on this. However, $550/mth on 90K is about 7.3% return on your cash today. You need to think about where you would be investing your 90k else ware and the compounded return on that cash over the same 10year period. I think the cash flow would be comparable if the 90k was invested properly; however the medallion as an asset has potential to appreciate on top of that cash as an added return....like a house. I’m not sure this is a wise investment for a 25 year old. JMO…

I originally bought mine for $45k 3 years ago while getting $350 per month per medallion. Now im getting $550 per month per medallion. Orginally I was getting a 9.3% return in year 1 and year 2. Now I am getting a 14.6% return on that same investment per year. In year 5 I will be getting a 20% return since I will be getting $750.00 per month per medallion. And it will only go up. So if medallions are purchased now at 90K each in year 2-3 you will be getting a 10% return while in year 1 it was a 7.3% return. And in year 4 it will be 12.6%. and year 6 will be 15.6%. Plus there are no property taxes to be paid or insurances to be paid. So if your return goes up by 2%-3% almost every 16 months i dont see how this is a poor investment. Im making $33,000 in rent a year on a $225,000 investment 3 years ago. What type of house can you buy that will giveyou that return. In 2 years ill be making $45,000 per year. And thats with only 5. My original investment will have paid itself off within 6 1/2 years. And then its all profit. Im looking at a 10 year road on this. I dont need this money now. The money Im making off of the medallions is being reinvested anyway along with money Im making from my company.

[cycler]

I was 28 when i first bought these medallions by the way. If i bought them at 25 they would have cost me 30K each. So I think this is a perfect for investment for a 25 year old since they will only appreciate. Phili medallions are going for $175K boston medallions are going for $350K and NYC medallions are going for 500K with one being sold last year at a record price of $600K

[cycler]

sorry i was 30 not 28. i was thinking about something else while typing

[nusevad]

Originally Posted by cycler

I was 28 when i first bought these medallions by the way. If i bought them at 25 they would have cost me 30K each. So I think this is a perfect for investment for a 25 year old since they will only appreciate. Phili medallions are going for $175K boston medallions are going for $350K and NYC medallions are going for 500K with one being sold last year at a record price of $600K

wow....for 500K i think i dump that into a new house. Medallions sound nice if you have a shit load of money and is looking for preservation of capital with monthly income. Much better than putting it into the market lol...but wow 500k...

[nusevad]

So cycler, you can sell your medallions right now for 500K each?

[F87LUV]

Originally Posted by Mr_T

As always, assuming the cost is higher than what you can make investing the money you are paying back. i.e. if you CC is charging you 18% on your rims



Got it, never a good thing if the choices suck



You can withdraw from your 401k with penalties too, I assume you mean no penalties. I don't know much about the roth other than the max allowed contribution per year is less than a 401k and I don't qualify for one.


M

Sorry typo.. i meant withOUT penalties...

I cant do a deductible IRA because im already over the income limit but roth i can... since im not getting an instant tax break, those funds will be 100% tax free... i think for a single person the phase out is around 90k but in 2010 [?] they are removing those income limits... but yes youre limited to 4-5k depending on the tax year in question.

But in this case time is on my side... figure from 25-30, that 20-25k in 30 years will be a good amount of cash.

[cycler]

No i have chicago medallion....i bought mine for $45K but i can sell them for $90K

[cycler]

But there is no point in selling them right now if you have a steady income. My dads friend has 6 NYC medallions and sold one 6 months ago for $500K. he bought them for $95K each 12 years ago.

[Mr_T]

Originally Posted by cycler

i dont see how this is a poor investment.

Never said it was a poor investment, just not one for someone who is not all that liquid.

You have me interested...., I almost did the NYC thing about 5 years ago after talking to a guy who drove me home from work after one of those late nights at the office.

m

[nusevad]

Originally Posted by cycler

But there is no point in selling them right now if you have a steady income. My dads friend has 6 NYC medallions and sold one 6 months ago for $500K. he bought them for $95K each 12 years ago.

wow, thats pretty sweet.

I wonder what other kinds of investments out there that are just started out to be cheap right now that will appreciate without risk...not too many i think.

[F87LUV]

you wanna make money? invest in an alternative fund thats backing the adult entertainment industry...



SERIOUS

[cycler]

i have a law suit pending right now. Its going to trial in Nov. Hopefully it settles quickly and I can pick up another 5. Plus with work and a contract we signed with a saudi arabian company, if everything pans out I should be able to pick up some more as well. Then at 45 retire and just mod my cars lol. Maybe buy whoever is with me an M5 or 2.

[F87LUV]

because there are soooooooo many females that will appreciate an M5

[F87LUV]

lunch time

[cycler]

Originally Posted by ZGirl4U

you wanna make money? invest in an alternative fund thats backing the adult entertainment industry...



SERIOUS

If anyone is interested i have a an idea that im looking for someone to invest in. Total needed is $400K. Is all goes according to plan we are looking at $1.5 million in gross sales and $1.2 in net sales. And thats just if we do it half ass. They are disposable iris retractors. I found the direct manufacturer so instead of me paying $50 per pack and selling it for $80 per pack it will now cost me $6 per pack and undercut the who im buying from now and sell it for $65 per pack. In addition there are a few other disposable items that we can add to the list. My website is www.impexsurgical.com but there i forgot to take off an old banner on it.

[cycler]

Originally Posted by ZGirl4U

because there are soooooooo many females that will appreciate an M5

Actually there is only 1 that i know of. i forgot her name. But i do know that she is pretty cool.

[nusevad]

Nice plan Cycler, what kind of company are you working for right now?

[fizzle]

my brain is hurting!

lol just went to meeting....anyway contributed 4% of salary plus my company matches .25 per dollar up to 4%...i got in a long term ING Portfolio, a Large Value, Large Growth, Mid Cap, and Foreign. split it up 50% with the Portfolio, and 10% with the rest. i have no idea what im doing but hopefully it works out! lol

[cycler]

Im one of the owners

[fizzle]

oh yea my sis-in-law had the baby so wooohooo.

[Mr_T]

Lets get back to car stuff, BMWs not cabs:

Which should I go with:

Option "A" for $550:



Will be black powder coated also


or

Option "B" for $350

http://www.e90post.com/forums/showthread.php?t=125076


Thoughts??