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Liquidretro t1_j6ncx4d wrote

There isn't enough info here to make a determination.

We don't know what's wrong with the current truck other than it's 3 years old, and pretty low milage for it's age. It's likely just out of warranty depending on what the factory warranty was., nor do we know what it will cost to fix. That said breaking even after 3 years is pretty good. Upgrading to a $52k truck is questionable for sure although it appears you can afford it. To me it sounds like you are trying to justify an upgrade here that you know you don't really need and likely isn't the smartest financial decision. It's ok to have fun and enjoy life by buying things as long as the rest of your financial ship is on course, but we can't see that it is or isn't.

We have no idea what your other expenses are, or the state of the rest of your finances. However, with your income, I question why you have so much financing on recreational things, and at what rates? I would expect to see substantial retirement savings and other investments most likely too.

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10000needlescactus OP t1_j6nh4fd wrote

The subaru is on a 2.9% apr (owe 24k), a kubota tractor that I use to maintain a couple of properties on a 0% apr (owe 26k) I also have a mortage on my current business location at 6% interest which I only owe 10k on and a 5 acre property that I purchased for 250k back in 2020 that is now valued and been receiving offers for at 425k at 5.9% that I owe 60k on.

I finance when I can at low interest rates to keep cashflow in case the business needs cash injections. I save the rest of my income per month which greatly varies depending on activies I do.

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Liquidretro t1_j6ni31h wrote

That makes sense, but no mention of investments or retirement isnt' comforting.

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10000needlescactus OP t1_j6nipvm wrote

I'm building a couple of starter homes that I should be getting at least a 50k return on (each) this summer. And I only have a roth ira at the moment. im 30yrs old btw so I def need to look into more investment methods

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Liquidretro t1_j6nn65u wrote

Paying yourself now and letting that compound over decades will pay off in dividends when you are sore and old and want to retire at 50.

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