What to do with my money for next 3yrs - £65k + 1k/mth
Discussion
I'm currently almost all in cash (not physical!) apart from my pension, and not planning on buying a house in the next 3 years at least (currently renting). I'm 27, single, no kids, no debts, currently earn 37k, only significant asset is a car worth 7k.
Current situation is 54k savings, all in an ISA earning 1.5% except for 1k which is in an S&S ISA invested in UK/developed world equity index funds. Then 11k in a SIPP, 60:40 equities:bonds in index funds. The money is savings from earnings, and around 15k from a few gifts and inheritances. I only started the pension and S&S ISA a year ago with lump sums and varying monthly contributions thereafter.
I'm saving about 650/mth into my ISAs (575 into cash, 75 into S&S). A total of 350/mth gross goes into my pension, 200 of it from me and 150 from my employer. So 1k/mth total, which'll probably rise by 100-150/mth each year.
I've been thinking lately if my money is in the right places, and about where I'm putting my new money. If I carried on as is for 3 years, I'll end up with 75k cash, 3.5k S&S, and 24k in my pension ignoring all growth and pay rises.
When I do drop an anchor somewhere and buy a house (probably in 3-5 years), I'm not sure how much of my total money should go into it. I've read some interesting pieces about not putting all but your emergency fund into your house deposit, as it can better grow elsewhere. This would obviously be affected by growth (housing and investments) and mortgage interest rates.
I'd likely need to spend around 150k for a reasonable place around here, so a 25% deposit would be 38k, or 60k for a 40% one. The interest rates at the moment are barely different, so it's the size of the loan that would affect the cost. At current example rates (1.8%) and 25yrs it seems that putting in an extra 22k reduces the monthly cost from roughly 470 to 370. So is it then just a question of if 22k can earn more than 100/mth elsewhere? For the 40% option, I think remaining heavy in cash is right given the time frame. But would putting in 40% be the best thing to do, and if not, would I be wise to move into/build up e.g. equities/corporate bonds instead?
Current situation is 54k savings, all in an ISA earning 1.5% except for 1k which is in an S&S ISA invested in UK/developed world equity index funds. Then 11k in a SIPP, 60:40 equities:bonds in index funds. The money is savings from earnings, and around 15k from a few gifts and inheritances. I only started the pension and S&S ISA a year ago with lump sums and varying monthly contributions thereafter.
I'm saving about 650/mth into my ISAs (575 into cash, 75 into S&S). A total of 350/mth gross goes into my pension, 200 of it from me and 150 from my employer. So 1k/mth total, which'll probably rise by 100-150/mth each year.
I've been thinking lately if my money is in the right places, and about where I'm putting my new money. If I carried on as is for 3 years, I'll end up with 75k cash, 3.5k S&S, and 24k in my pension ignoring all growth and pay rises.
When I do drop an anchor somewhere and buy a house (probably in 3-5 years), I'm not sure how much of my total money should go into it. I've read some interesting pieces about not putting all but your emergency fund into your house deposit, as it can better grow elsewhere. This would obviously be affected by growth (housing and investments) and mortgage interest rates.
I'd likely need to spend around 150k for a reasonable place around here, so a 25% deposit would be 38k, or 60k for a 40% one. The interest rates at the moment are barely different, so it's the size of the loan that would affect the cost. At current example rates (1.8%) and 25yrs it seems that putting in an extra 22k reduces the monthly cost from roughly 470 to 370. So is it then just a question of if 22k can earn more than 100/mth elsewhere? For the 40% option, I think remaining heavy in cash is right given the time frame. But would putting in 40% be the best thing to do, and if not, would I be wise to move into/build up e.g. equities/corporate bonds instead?
McFsC said:
Buy a house now. No more rent, enjoy lower rates for longer and pay the mortgage off earlier, maybe allowing you to retire earlier.
Doesn't fit my situation unfortunately - I don't think I want to remain where I am now for 5+ years. I pay 500/mth for a flat which I could buy for 95k. Leaving a bit of an emergency fund in cash, I could put down 40k on it and the cheapest resulting mortgage would be around 270/mth. Add a 120/mth service fee and it's up to 390/mth for me to buy the place even before transaction costs. I'm ok with paying the premium for the flexibility and avoidance of risk. Plus I'd never buy a flat anyway due to the leasehold/service fee crap, so I'd need to borrow more for a house.okgo said:
Simpo Two said:
I can't add anything other than to say well done. You make other 27y/os I know look pretty stupid.
But also makes them look incredibly exciting vs the above 
. I have a nice fast car, I spend two weeks abroad each summer, and I have money for shiny things and fun things (maybe not much by PH standards though). Saving and taking time to plan doesn't stop me doing those things, and helps ensure I can keep enjoying the future.okgo said:
I'm also 27. Save about the same as op on a non bonus month but know I would lead a fairly boring existence if I tried to do it on 37k. But it was mostly a tongue in cheek comment.
You've done well to get to that point and earn a fairly decent wage considering the area you must live for houses to cost that!
Thanks. Yes, decent wage in a low cost area is the only thing that makes this possible.You've done well to get to that point and earn a fairly decent wage considering the area you must live for houses to cost that!
Condi said:
Is it not worth buying a house/flat for nothing more than the increase in value? Rent pays the mortgage, so its someone else investing their money in your house!
EDIT; doing the sums, you're getting 1 or 2% in an ISA, and yet giving your landlord 6.3% return on his flat. Bonkers.
I have wondered quite a lot, still on the no side. I would never buy a flat as I mentioned above due to the leasehold / service charge risks (monthly + lump sum demands for repairs), so it would have to be a house which would be more expensive. I'm not confident that increases in value would make it worthwhile (this isn't a prosperous area), taking into account transaction costs and the risks of ownership. Also I don't want to have much commitment here because I don't really want to be here, and also if I lost my job I would have to move elsewhere to find a comparable one. I said in my previous post (ignoring transaction costs and value increases), renting this place rather than owning it is costing me around 100/mth, but that 40k deposit would then not be earning interest, so renting is costing me 50/mth which I'd rather pay.EDIT; doing the sums, you're getting 1 or 2% in an ISA, and yet giving your landlord 6.3% return on his flat. Bonkers.
Thanks all. The question was where to put my money for the next 3 years, that isn't property due to the reasons I've already given. And secondly when I'm ready to buy property, how much to put into it.
I now see that I should probably take on a little more risk with S&S and maybe peer to peer lending - that answers the first one. On the second, the answer seems to be that property beats all else so when I'm ready put all but my emergency fund into it.
I do understand how not buying a property is costing me, and I'm not missing any of your points.
I now see that I should probably take on a little more risk with S&S and maybe peer to peer lending - that answers the first one. On the second, the answer seems to be that property beats all else so when I'm ready put all but my emergency fund into it.
I do understand how not buying a property is costing me, and I'm not missing any of your points.
Condi said:
most of all make sure you're not having a crap time today hoping for a good time tomorrow. Tomorrow never comes, and having a great house at 40 isnt going to feel good if you've sacrificed all the fun in your 20's and 30's when you should be out there enjoying it.
This has been on my mind for the past year of two after seeing others either lose almost everything in divorces, or dying with a fortune having lived cheaply and saved earnings from average wage jobs all their lives. I didn't have much growing up so am naturally careful with money. That also that means that spending 2k a year on holidays and having around 300/mth disposable after all bills/costs feels like enough to be spending on fun (this is a cheap area). I'm not targeting a great house, just want to avoid being a mortgage slave until I retire.Right I think I have a clear idea of what I'm going to do now. Thank you all.
I already have a nice and fast car, £7k was enough for that and was a big upgrade from the £1k cars I've had previously. No prospective women in my life at the moment, not a huge amount would (should?) change financially if one came along either.
Aim for 60k house deposit plus an emergency/buffer fund in cash in 3 years time. So no S&S sells for the deposit. This to remain in best variable/fixed ISAs, and new money to continue being lumped up in high rate regular savers before being dumped into an ISA (or maybe a 123 account, more likely after the tax free interest changes make it more worth it).
This means saving more of my new money into my S&S ISA and pension. I needed to up the pension anyway, and I'm already taking max advantage of matched contributions and tax relief. Both are already in cheap tracker funds on cheap platforms, pension 60:40 stock-bond, and S&S all in UK(45%)/developed world(55%) equity.
Percentage each month to cash-S&S-pension will change from around 75-5-20 to 55-15-30. This will gradually take my total allocations from around 80-1-17 to around 70-5-25.
I'm happy with the pension asset allocation, any thoughts on that for the S&S? Remain 100% in equity but add a bit of developing world? I'll have flexibility to add more funds when I increase my contribution.
I already have a nice and fast car, £7k was enough for that and was a big upgrade from the £1k cars I've had previously. No prospective women in my life at the moment, not a huge amount would (should?
) change financially if one came along either.Aim for 60k house deposit plus an emergency/buffer fund in cash in 3 years time. So no S&S sells for the deposit. This to remain in best variable/fixed ISAs, and new money to continue being lumped up in high rate regular savers before being dumped into an ISA (or maybe a 123 account, more likely after the tax free interest changes make it more worth it).
This means saving more of my new money into my S&S ISA and pension. I needed to up the pension anyway, and I'm already taking max advantage of matched contributions and tax relief. Both are already in cheap tracker funds on cheap platforms, pension 60:40 stock-bond, and S&S all in UK(45%)/developed world(55%) equity.
Percentage each month to cash-S&S-pension will change from around 75-5-20 to 55-15-30. This will gradually take my total allocations from around 80-1-17 to around 70-5-25.
I'm happy with the pension asset allocation, any thoughts on that for the S&S? Remain 100% in equity but add a bit of developing world? I'll have flexibility to add more funds when I increase my contribution.
Three years have passed.
Total is doing about 10% better than expected at £118k, and the 81k-5k-32k split cash-S&S-pension is very close to what I aimed for.
Life situation is unchanged except for being older (30) and earning around 50k. Single, no kids, no debts, same £5k car. Still renting a 500/mth flat, and not inclined to drop an anchor by buying a house anywhere as I thought I might have been by now - job security/flexibility, no ties or partner.
Currently saving £1800 a month, £1k of it into cash (ISA, LISA, fixeds, regular savings), £100 to S&S, and £700 gross to SIPP pension (including max matched contributions). Wondering if I should continue like this, building up the cash for that house deposit I'll eventually need, and keeping the proportion of total assets in pension flat? When the time comes, the 81k cash I already have is enough for a 66k deposit (that's 40% on a 165k house) and 5k costs, leaving a 10k cash buffer/emergency fund. Or shift the monthly a bit more towards S&S for a better medium term return and offset inflation? Another 3 years as per current, disregarding growth/loss and pay rise/fall, would put me at 117k cash, 9k S&S, and 57k pension.
I feel reasonably well off with these numbers, but I know I'm not compared to many others who earn more and/or have mortgaged houses funded with a partner or parents' help. But I'm also a bit anxious about money and financial security, as I've always been and always will be, and especially with the current political uncertainty.
Just to avoid going over old ground again - I'm not interested in the commitment/hassle of a property whether it's to live in or rent out, and my current rented place still at the same price is better value now than it was in 2015.
Total is doing about 10% better than expected at £118k, and the 81k-5k-32k split cash-S&S-pension is very close to what I aimed for.
Life situation is unchanged except for being older (30) and earning around 50k. Single, no kids, no debts, same £5k car. Still renting a 500/mth flat, and not inclined to drop an anchor by buying a house anywhere as I thought I might have been by now - job security/flexibility, no ties or partner.
Currently saving £1800 a month, £1k of it into cash (ISA, LISA, fixeds, regular savings), £100 to S&S, and £700 gross to SIPP pension (including max matched contributions). Wondering if I should continue like this, building up the cash for that house deposit I'll eventually need, and keeping the proportion of total assets in pension flat? When the time comes, the 81k cash I already have is enough for a 66k deposit (that's 40% on a 165k house) and 5k costs, leaving a 10k cash buffer/emergency fund. Or shift the monthly a bit more towards S&S for a better medium term return and offset inflation? Another 3 years as per current, disregarding growth/loss and pay rise/fall, would put me at 117k cash, 9k S&S, and 57k pension.
I feel reasonably well off with these numbers, but I know I'm not compared to many others who earn more and/or have mortgaged houses funded with a partner or parents' help. But I'm also a bit anxious about money and financial security, as I've always been and always will be, and especially with the current political uncertainty.
Just to avoid going over old ground again - I'm not interested in the commitment/hassle of a property whether it's to live in or rent out, and my current rented place still at the same price is better value now than it was in 2015.
ghamer said:
Well if you'd have taken the advice when you asked 3 years ago and bought property you'd have a lot more than £120k to play with now.
Yes, if I'd followed the advice of the majority of posters, and all had gone well, I'd be better off now.If I'd gone for the buy to live option, with a place similar to my current one, I'd have paid net 175/mth (all costs except moving/fees) vs. renting's 500/mth. Difference of 325/mth, 4k/yr, or 12k for 3 years. 2 days a month of earnings, or 5 weeks a year. Would be 10% better off than current situation now, not that much. Wasn't prepared to make the commitment and take the risk.
ghamer said:
So what's the plan going forward?
Unsure and undecided, hence resurrecting this thread!Du1point8 said:
Whats the end goal?
you now have 118k in the bank and no assets.
what are you going to spend it on or just keep saving until what?
Good question. Sometimes I'm not sure if I know, but the answer is it'll all be needed (and much more) for a paid-off house and retirement. I don't think I'm in danger of dying with a fortune, more likely to lose it through unemployment/illness or divorce. But those apply to assets just the same.you now have 118k in the bank and no assets.
what are you going to spend it on or just keep saving until what?
The T Boy said:
At your age I'd suggest putting more into equities as that will likely give you a much better return than cash over a long term.
As you don't seem in any rush to buy a property then there is no need to keep huge amounts of cash available. If you held enough for say a 10% or 20% deposit (should your buying circumstances change) then if the market was up you could sell some equities to increase the deposit or, if the market was down, pay a lower deposit and wait for the market to recover before selling equities to pay the mortgage down. Interest rates might stay low enough that you are happy with a smaller deposit anyway.
If you continue to rent then it sounds as though 20k would be more than enough to survive on for at least a year should you unexpectedly lose your job so maybe keep that much in cash and move the rest into equities.
Basically, at 30 years old with no commitments and enough emergency cash already saved, your money would be better off in higher growth and risk assets. The main bulk of your savings is probably getting reduced by inflation. Your portfolio mix is closer to that of someone trying to reduce risk as they near retirement age. You've made a great foundation at a relatively young age so take some risk now to maximise the chance of growth - you've got 35 years to ride out any market falls!
Thanks. I'm considering equities, would need to be a gradual shift though to avoid going in at an all-time market high like NRS pointed out. Interest on my cash is just over 1k a year, I'd need another 1.7k just to stay still with the RPI inflation currently at 3.3%. Add my renting premium and that's 5.7k a year or 475/mth gone. I'm think my pension mix of 60:40 equities:bonds is ok, but my overall mix is off as you say - it's ended up this way as I've always thought I'd be ready to settle on a house in the next 2-3 years.As you don't seem in any rush to buy a property then there is no need to keep huge amounts of cash available. If you held enough for say a 10% or 20% deposit (should your buying circumstances change) then if the market was up you could sell some equities to increase the deposit or, if the market was down, pay a lower deposit and wait for the market to recover before selling equities to pay the mortgage down. Interest rates might stay low enough that you are happy with a smaller deposit anyway.
If you continue to rent then it sounds as though 20k would be more than enough to survive on for at least a year should you unexpectedly lose your job so maybe keep that much in cash and move the rest into equities.
Basically, at 30 years old with no commitments and enough emergency cash already saved, your money would be better off in higher growth and risk assets. The main bulk of your savings is probably getting reduced by inflation. Your portfolio mix is closer to that of someone trying to reduce risk as they near retirement age. You've made a great foundation at a relatively young age so take some risk now to maximise the chance of growth - you've got 35 years to ride out any market falls!
princeperch said:
The other issue is leverage. And the fact you can't live in a share.
True. Even though I don't really want to be in property, some of these numbers might force me.Scootersp said:
I get your anxiety but I'd say you've got the money side of things covered and will never be really reckless or let things go too far south!
What are your passions in life? Hobbies or goals, family thoughts etc, this is where I'd focus your time ie making them happen, if you are happy as you are 100% fine but if there is something you want to do/pursue do it, maybe have a year where you spend a good chunk of the monthly saved cash, or take a sabbatical from work if that's an option?
As with all anxiety's don't let them rule your life.
Thanks. Into cars and travelling. 5k buys an ok old car, and 2k a year gives me two weeks away. Not expecting to have a family, given the way I am this is part choice and part involuntary. Could spend more, I'd need to make sure it'd be worth it though and avoid getting used to it. Sabbatical not an option, frowned upon by employers and cost a lot more in lost earnings than spent cash.What are your passions in life? Hobbies or goals, family thoughts etc, this is where I'd focus your time ie making them happen, if you are happy as you are 100% fine but if there is something you want to do/pursue do it, maybe have a year where you spend a good chunk of the monthly saved cash, or take a sabbatical from work if that's an option?
As with all anxiety's don't let them rule your life.
Dr Mike Oxgreen said:
At the moment you’re being “recklessly prudent”. In other words, you’re being so cautious that you’re throwing away the chance to be substantially richer in the future.
You really shouldn’t be keeping such a lot in cash, and throwing such a lot of new money into it. I don’t know what interest rate you’re getting, but I’d be willing to bet it’s less than inflation - and therefore your cash is shrinking, not growing. Just because you’re seeing an interest payment go into the account every year/month doesn’t mean you’re getting richer in real terms.
It sounds like your goals are quite indistinct, and therefore probably long term. Equities are what you should be putting a lot of your money into. IMHO people erroneously talk about “risk” in relation to equities when really they’re talking about volatility, which becomes an irrelevance over the long term. Over a long enough period of time the stock market is unlikely to lose you money if you hold your nerve and keep your holdings during downturns.
If I were you, I’d be putting at least half your money into a global equity index tracker, sheltered within an ISA.
Thanks. I was aware of the inflation aspect but hadn't worked out how much it was costing me until earlier in this post.You really shouldn’t be keeping such a lot in cash, and throwing such a lot of new money into it. I don’t know what interest rate you’re getting, but I’d be willing to bet it’s less than inflation - and therefore your cash is shrinking, not growing. Just because you’re seeing an interest payment go into the account every year/month doesn’t mean you’re getting richer in real terms.
It sounds like your goals are quite indistinct, and therefore probably long term. Equities are what you should be putting a lot of your money into. IMHO people erroneously talk about “risk” in relation to equities when really they’re talking about volatility, which becomes an irrelevance over the long term. Over a long enough period of time the stock market is unlikely to lose you money if you hold your nerve and keep your holdings during downturns.
If I were you, I’d be putting at least half your money into a global equity index tracker, sheltered within an ISA.
Saleen836 said:
Each to their own but taking rent/bills and the amount you save out of your monthly salary doesn't leave you a great deal, have you enjoyed life over the past few years or just dedicated yourself to work and save?
Put a lot into work and self-improvement related to work, which has paid off. I've been enjoying some things, car weekend trips, 8k on holidays in 3 years. Not dedicated, but not living it up either. I'm leaving myself 300 a month for anything-goes guilt-free, carrying forward unless spent, otherwise I'd probably save even more!NRS said:
to buy/sell it costs about £15-17k total
£15-20k in whisky!
£15-20k in whisky!
x2Been doing some thinking and numbers.
Inflation after all returns cost me around 1300 last year, or 110/mth. Could change with inflation, interest rates, and market returns of course. Alone, it isn't going to make me do anything drastic.
Renting cost me 6k last year (500/mth), for a place worth 90k. After 1.5k of service fees, the landlord's left with 4.5k - a 5% return on his money. Doing a like for like comparison, in reality I wouldn't buy a flat with such fees. If I put 60k down on a mortgage, keeping 20k as an emergency fund, the mortgage interest (only) would be 35/mth or 420/yr, and I'd miss 750/yr of savings interest and 1k/yr of L-ISA bonus. Total cost 3.7k a year, or 305/mth. That'd be 2.3k a year (190/mth) less than renting, before buying and eventual selling costs. Renting costs a 60% premium.
Those two make my total "waste" 3.6k a year (300/mth), 17% of the new money I save, or 4 weeks' worth of working. That's a lot, it'd go a long way towards a nice car, but doesn't change my life.
Buying to live would eliminate the rent waste, with a huge margin to allow for rate rises, not taking into account moving and maintenance costs. Inflation exposure would be swapped for house price exposure, so no guarantees there in real terms. Overall would be still expect to be significantly up over long enough a term. But I wouldn't buy a flat, so would need to compare with a house even though not like for like. Buying to let comes with additional hassle and also political risk. I don't know where I'd buy anyway, my only ties are to an economically depressed area, and I'd almost certainly need to leave my current area for a similar job should I lose my current one.
That leaves me to counter the waste some other way, or if that's too risky, to accept it. I need to consider setting aside funds for emergency and house deposit, and put at least some of the rest and new money into trackers within my S&S ISA. Rebalancing my savings split from 94-6 cash-S&S. As The T Boy said, this would allow me to wait for the market to recover should I want to sell to pay down the mortgage in case rates rise.
My high rate of saving is down to deliberately avoiding lifestyle inflation as my income has grown, something I decided to do over 5 years ago. I have a standing order to save the difference between my net pay and what it used to be back then. So I budget on my old salary, including some savings and pension out of it as I used to. This gives me peace of mind that I'm not getting used to good times that may not last, as I highly doubt I could land a similarly-paying job should I lose my current one - I was lucky to join the right company at a low level at a good time. I'm expecting to fall back to earning 25-30k someday. I'm not saving for anything in particular, apart from a buffer in the face of uncertainty, but I know I'll need it all eventually (and much more) for a paid-off house and retirement.
Quite a few people asked if I'm enjoying my life, dedicated to saving, or waiting for tomorrow that never comes etc. Well tbh, it's alright but not great. I do track where my money goes and forecast with a few spreadsheets, and am keen on getting good value. I don't think spending more would improve it though. My time off work is already full with things I need/want to do. I'm sure I'd love a new-ish hot car until the novelty wore off and I became used to it, but I'd only get a chance to drive it on weekends. That said, I'd have no will left to live if I lost this money, had it taken away from me, or otherwise become unable to spend it.
Thanks folks.
Inflation after all returns cost me around 1300 last year, or 110/mth. Could change with inflation, interest rates, and market returns of course. Alone, it isn't going to make me do anything drastic.
Renting cost me 6k last year (500/mth), for a place worth 90k. After 1.5k of service fees, the landlord's left with 4.5k - a 5% return on his money. Doing a like for like comparison, in reality I wouldn't buy a flat with such fees. If I put 60k down on a mortgage, keeping 20k as an emergency fund, the mortgage interest (only) would be 35/mth or 420/yr, and I'd miss 750/yr of savings interest and 1k/yr of L-ISA bonus. Total cost 3.7k a year, or 305/mth. That'd be 2.3k a year (190/mth) less than renting, before buying and eventual selling costs. Renting costs a 60% premium.
Those two make my total "waste" 3.6k a year (300/mth), 17% of the new money I save, or 4 weeks' worth of working. That's a lot, it'd go a long way towards a nice car, but doesn't change my life.
Buying to live would eliminate the rent waste, with a huge margin to allow for rate rises, not taking into account moving and maintenance costs. Inflation exposure would be swapped for house price exposure, so no guarantees there in real terms. Overall would be still expect to be significantly up over long enough a term. But I wouldn't buy a flat, so would need to compare with a house even though not like for like. Buying to let comes with additional hassle and also political risk. I don't know where I'd buy anyway, my only ties are to an economically depressed area, and I'd almost certainly need to leave my current area for a similar job should I lose my current one.
That leaves me to counter the waste some other way, or if that's too risky, to accept it. I need to consider setting aside funds for emergency and house deposit, and put at least some of the rest and new money into trackers within my S&S ISA. Rebalancing my savings split from 94-6 cash-S&S. As The T Boy said, this would allow me to wait for the market to recover should I want to sell to pay down the mortgage in case rates rise.
My high rate of saving is down to deliberately avoiding lifestyle inflation as my income has grown, something I decided to do over 5 years ago. I have a standing order to save the difference between my net pay and what it used to be back then. So I budget on my old salary, including some savings and pension out of it as I used to. This gives me peace of mind that I'm not getting used to good times that may not last, as I highly doubt I could land a similarly-paying job should I lose my current one - I was lucky to join the right company at a low level at a good time. I'm expecting to fall back to earning 25-30k someday. I'm not saving for anything in particular, apart from a buffer in the face of uncertainty, but I know I'll need it all eventually (and much more) for a paid-off house and retirement.
Quite a few people asked if I'm enjoying my life, dedicated to saving, or waiting for tomorrow that never comes etc. Well tbh, it's alright but not great. I do track where my money goes and forecast with a few spreadsheets, and am keen on getting good value. I don't think spending more would improve it though. My time off work is already full with things I need/want to do. I'm sure I'd love a new-ish hot car until the novelty wore off and I became used to it, but I'd only get a chance to drive it on weekends. That said, I'd have no will left to live if I lost this money, had it taken away from me, or otherwise become unable to spend it.
Thanks folks.
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