Car Warranty Claim- I saved $600 potentially

Noticed condensation in my passenger side headlight this weekend. 2 weeks away from owning it for 2 years old and still under warranty. Guy at the service center said it still looked brand new. Before you think I’m making a big deal out of nothing, it’s possible this problem could get worse. Water + electrical current is not good, especially in the event of major rainfall. We had some heavy rainfall in Dallas two weeks ago and likely will get a few more until it starts getting a lot warmer. Here are two pictures of the headlight assembly.

 

Priced new, one would run over $600.

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A few weeks ago I tried to replace my in-cabin microfilter. The left is the dirty one and the right is the replacement that got stuck.. I spent an hour trying to pull out with a screwdriver, almost cutting up my fingers while on my back before sunset. Thankfully O’Reillys had a replacement for about $20.

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It’s official, each of the last 3 cars I’ve owned has been totaled. I found the 2008 Altima, which I owned for 6 years on a salvage site. I owned the car for 6 years and spent $2300 on upgrading the audio system. At the time it seemed like *so* much money. Now I think about other things that could’ve been done with the money. Or how much interest I would have saved putting that toward the student loan instead.
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This is what the car looked like in November 2017:
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versus when I had it stowed safely away in a garage. On the bright side I got about $9k for it at trade-in.

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As much as I love cars, I was skimming through old pictures I had and realized I valued the people and experiences in my life more. It’s been an interesting 6 3/4 years in Dallas. I have pictures of place I travelled to, temp housing, first apartment, first house, my current apartment, cruises, places I’ve travelled. Friends who moved away or went crazy.  I’d like to make new memories with someone. Seems like a dream from where I stand today. Online it’s usually no response, no mutual attraction, or just chatting with no intention of meeting.

Maybe I’m just overly cautious in my years. Don’t want to pick the wrong guy, or take a chance on one who has no interest in dating or getting to know each other. Then again there were quite a few who were and I let them fall through the cracks. I could write a book with all the stories. I’m tired though, chatting with mostly 20 somethings feels like a waste of time.

retirement, Retirement, RETIREMENT – pt 2

So I was watching an interview with Carl of 1500days.com and started thinking. At my current rate how much will I have assuming everything stays consistent. Odds are they won’t, the Roth IRA contribution limits will be raised, and ideally I will earn enough to be ineligible at some point. I’ll turn 60 in the year 2043. I don’t foresee myself working that long, it’s 26 years away. On the reverse side, god willing I’d like to live well past 80 and 20 years of retiring in the traditional sense seems like hell.

Looking back to 26 years ago… I was in 2nd grade, lived downstairs in my grandmother’s home, dad was on dialysis / collecting SSI, mom worked at a nursing home, the car she drove was an 97hp 1987 Nissan Stanza. The car would shake over 50mph and kind of scary on the highway, but she did keep it for almost 10 years. We had a Brother Word Processor with a monochrome display and a floppy disk for software / data saves. I thought that was the coolest thing ever. No home computer, I only heard about the information superhighway on TV. George HW Bush was still president, Batman Returns made its debut. I wouldn’t start part time working until 7 years later at the amazing wage of $5.15/hr, my first check was a whopping $80 net.

In what I would consider a comfortable level of saving and taking current 2018 laws into account. I wouldn’t hit 6 figures until 2021, quarter mil 2024, half mil 2029, full mil 2035. That number is *bullshit* though. I’ll go into why after the table.

Year  401k  Roth IRA  Retirement Total
1/1/18  $          34,000  $                –  $             34,000
1/1/19  $          56,160  $          6,480  $             62,640
1/1/20  $          80,093  $        13,478  $             93,571
1/1/21  $        105,940  $        21,037  $           126,977
1/1/22  $        133,855  $        29,200  $           163,055
1/1/23  $        164,004  $        38,016  $           202,019
1/1/24  $        196,564  $        47,537  $           244,101
1/1/25  $        231,729  $        57,820  $           289,549
1/1/26  $        269,708  $        68,925  $           338,633
1/1/27  $        310,724  $        80,919  $           391,644
1/1/28  $        355,022  $        93,873  $           448,895
1/1/29  $        402,864  $      107,863  $           510,727
1/1/30  $        454,533  $      122,972  $           577,505
1/1/31  $        510,336  $      139,290  $           649,625
1/1/32  $        570,603  $      156,913  $           727,515
1/1/33  $        635,691  $      175,946  $           811,637
1/1/34  $        705,986  $      196,501  $           902,487
1/1/35  $        781,905  $      218,701  $        1,000,606
1/1/36  $        863,897  $      242,678  $        1,106,575
1/1/37  $        952,449  $      268,572  $        1,221,021
1/1/38  $     1,048,085  $      296,538  $        1,344,623
1/1/39  $     1,151,372  $      326,741  $        1,478,112
1/1/40  $     1,262,922  $      359,360  $        1,622,281
1/1/41  $     1,383,395  $      394,589  $        1,777,984
1/1/42  $     1,513,507  $      432,636  $        1,946,143
1/1/43  $     1,654,028  $      473,726  $        2,127,754
  1. I didn’t include any employer match into account. In most companies that would be 3-5%. That adds at least $2k/year to the total.
  2. Inflation – Our dollars are going to be worth way less in the future so more retirement will be needed.
  3. I will have investments outside of retirement accounts. Once the car is paid off, conservatively I could save an additional $10k/yr. Let’s assume that loan is completely gone by 2020.
     Year  Investments
    1/1/20  $        10,000
    1/1/21  $   20,800.00
    1/1/22  $   32,464.00
    1/1/23  $   45,061.12
    1/1/24  $   58,666.01
    1/1/25  $   73,359.29
    1/1/26  $   89,228.03
    1/1/27  $ 106,366.28
    1/1/28  $ 124,875.58
    1/1/29  $ 144,865.62
    1/1/30  $ 166,454.87
    1/1/31  $ 189,771.26
    1/1/32  $ 214,952.97
    1/1/33  $ 242,149.20
    1/1/34  $ 271,521.14
    1/1/35  $ 303,242.83
    1/1/36  $ 337,502.26
    1/1/37  $ 374,502.44
    1/1/38  $ 414,462.63
    1/1/39  $ 457,619.64
    1/1/40  $ 504,229.21
    1/1/41  $ 554,567.55
    1/1/42  $ 608,932.96
    1/1/43  $ 667,647.59
  4. So taking the above chart into account while still being able to live a comfortable life, if I were to stick at the contributions, get the same 8% growth, and be in good enough health to work, that would be me at a combined total of $2.79MM.
  5. If I ever pursue the business option, I could potentially contribute to a SEP IRA which could be up to $55k per year. Of course I’d need to have a business, ample sales / profits to justify it… but fun to think about.
  6. Passive income. Rental properties, cash flow businesses, online stores. An extra $10k /yr could make a huge difference.

The main point I’m trying to get across…. If you’re in your 20s invest! If you’re in your 30s, 40s, 50s, 60s… invest. The quality of life you have may very well depend on it.