Some exciting news!

margecat

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Some of you may remember my posts regarding Mom's estate and my brother, who is the executor.

When I got home from work on Friday, I found a letter from the lawyer.  Everything is fine with the estate--very fine, indeed.  I honestly thought I'd have to battle in court for a pittance (after her medical bills were paid, etc.), or not get anything at all.  Surprise! My share is considerably more than I could ever have imagined (even before Mom's medical problems arose)!   A lot, a LOT more.  I've been giddy the past 3 days--so much I'm having trouble sleeping, and my stomach is in knots (some of that is a virus, I think). I hate the way I came into this money, but it's nice to have that much.

I should buy a new car soon, as mine is 14+ years old, but still runs very well, and was paid off 12 years ago. I think I'll just run it to death. I've been saving up for a down payment for awhile, so, even without the estate funds, there would be no problem in buying a car. 

I may buy myself a very nice piece of jewelry to remember Mom by, and save/invest the rest.  Yeah, I'm cheap!  But, it would be foolish to waste that amount of money on frivolous things.  I like having the knowledge that it's there--I have options--I can spend all of it, some of it, or invest all of it.  I'm really enjoying that feeling!
 

aeevr

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A new car is a very bad investment. An old reliable paid-off car is best - and the insurance is CHEAP.
 

bigperm20

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Instead of a brand new car you'd do a lot better to buy one 1 model year old w/ very low miles. New cars depreciate so much the second you drive off the lot it's just depressing. I'd go with a lightly used car.

Also stick with CarMax or a lot with fixed prices. Used car dealers will take your head off if you don't know what you're doing. Carmax is very good. They can also order you whatever you want.

I wouldn't trade your old car as it won't be worth anything. Keep it for a rainy day. I.E. a friend needs to borrow your car, etc.
 
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margecat

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A new car is a very bad investment. An old reliable paid-off car is best - and the insurance is CHEAP.
I didn't say I'd literally buy a BRAND-new car--I meant "a car that is not the one I have now" car. I see this 2 ways--my 15 year old car was brand-new, and, though a cheap make, has lasted me well all of these years.  I might buy a new, moderately-priced car and try to make it last as long. On the other hand, I am considering buying a good make of a slighty-used car, as well.  Since my brand-new car has lasted all these years with little trouble, I'd say that was a good   investment.  This was my first brand-new car, and I don't regret it a bit.  I drove 3rd-hand used cars up until then (and one of those is the reason why I had to suddenly buy the car I have now).  I personally don't care what I drive, as long as it runs and is clean and safe.  I'm not bragging when I say this, but to be honest here: I can now afford to pay cash for several, mid-range brand-new cars. Not that I would pay cash, if I could get a low finance rate, but what I'm trying to illustrate is: if I can afford that, why not get something brand-new and well-made (such as a Jeep product--we've had amazing luck with those, and DH just bought a brand-new one), that will last me a long time? I see your point, as well, and it is valid. Thank you for the advice!
 

bigperm20

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Oh yeah, do not! I repeat... DO NOT! Buy an extended warranty! They are a huge waste of money and dealers push them so hard b/c they are almost 100% profit.
 

blueyedgirl5946

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A car of any kind is always a bad investment.  I wouldn't buy a car until there is no choice.  You are wise in my opinion to put some money away for later.  Congratulations.
 

kookycats

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You're not cheap --- just practical - and that's how we are.     I'd treat myself to a nice piece of jewelry, maybe a vacation, and put the rest in the bank.
 

AbbysMom

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That's great news! :clap: I think buying yourself something to remember your mother by is a great idea. :)
 
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margecat

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That's great news!
I think buying yourself something to remember your mother by is a great idea.
Thanks!  It will be a little something, as I, for now, plan to save the money.  I crave financial security over other things! (Just like my Mom!)
 
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