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Money Guy Show
"I'm Paying Cash for a Car - How Much Should I Spend?"
Feb 12, 2024
In this podcast, the hosts discuss topics such as managing employer contributions, investing in NVIDIA stock, and creating a diversified portfolio. They also provide tips on determining how much car you can afford when paying cash.
21:08
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Quick takeaways
- Saving for a down payment should include both employer contributions and personal savings, aiming for a minimum of 15% personal savings and investment rate.
- When investing in employee stock purchase programs, it is important to avoid over-concentration in a single stock and systematically diversify over time, treating it as a speculative investment rather than a core portfolio asset.
Deep dives
Saving for a Home with Employer Contributions
Connor, a 23-year-old looking to buy a home in 5 to 7 years, wonders if he can include his employer's 7% 401k match and 10% profit sharing in his savings for a down payment. The podcast hosts discuss the feasibility. They praise Connor's proactive planning and advise him to save the employer contributions along with additional savings. However, they caution against relying solely on employer contributions and suggest aiming for a minimum of 15% personal savings and investment rate to ensure active participation and financial success.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode