So there. Enjoy your car - I'm sure you will. Nobody knows what the future is going to bring. But get that Roth IRA.
True words.
I'll just save up 2 yrs income and live off the investment profits, which I have a good track record of over the past 7 years
Ignorant words. But financial markets are good at teaching lessons. Happily, losing all one's money in their 20s can be a good learning experience.
As a general matter, I disagree that one needs to save in their 20s. The Age-Earnings Profile research by the likes of Modigliani, Keynes, Friedman, Becker and Mincer shows that earnings are low in one’s 20s, rising to one’s 50s, and then falling in one’s 60s.
Milton Friedman, Consumption Function.
Modigliani and A. Ando, "The Life Cycle Hypothesis of Savings,"American Economic Review, March 1963.
Modigliani and A. Ando, "The 'Permanent Income' and the 'Life Cycle' Hypothesis of Saving Behavior: Comparison and Tests," in Consumption and Saving, I. Friend and R. Jones, eds., Vol. II, Philadelphia, 1960, Table III-4.
Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition). Gary S. Becker, The University of Chicago Press. ISBN: 0-226-04119-0,
Human Capital: A Theoretical and Empirical Analysis with Special Reference to Education (3rd Edition)
The Ghosts of Milton Friedman and John Maynard Keynes - Seeking Alpha
Because one’s earnings generally rise as one ages and then decline later in life, it makes sense to over-consume/dis-save as a child, in one’s early career, and in retirement. In other words, while it may be helpful to set a little aside from early on, it is also entirely logical to not keep one’s consumption to a level to permit savings from an income that is a fraction of one expects to make in the future. Instead, a more level consumption function would be justified, including in retirement.
Of course, living a life within one’s means is also a good idea. Many people have a bad habit of growing their consumption into their means (and then some). And life can get expensive with costs like private schools, medical or hospice care for the elderly, or other unforeseen events (long term disability, etc.). In general, the people I see who consume like crazy in pursuit of happiness tend not to find it, while those who live within their means tend to find a sense of calm that comes from knowing they can check out and do whatever they want to, whenever they want, and are not beholden to “the man.” They aren’t loud, but instead quietly happy and don’t feel a need to go yell about it to the world.
As for the OP’s car (gift?), it sounds to me like he is getting a little help from his parents but is really paying for the car himself (or at least plans to do so until going back to school). So while people may disagree with the resource allocation to a car (as a percentage of income), this doesn’t sound like daddy buying him a P85. Of course, the whole plan seems a little half-baked (with him going back to school and no income to pay for his car payment that goes to 2019, and relying on profits from option trading), but that’s not too surprising for a male college senior who has been investing since about when the market hit rock bottom in 2008, so just about anyone who has been in the market has made money, and those buying calls have done quite well, and those buying TSLA calls of late have done VERY well. But early 20s males' frontal lobes aren’t fully developed, and I know that when I was that age I had a LOT of life lessons still to learn. His posts remind me of the kind of things I would have written - before I made a fool of myself and developed a bit more judgment. And FWIW, I don’t think he was kidding about the Ferrari.
But it's all good. No harm done. A young guy bought a car he may or may not be able to afford. It happens every day. Hopefully his desire for nice things inspires him to work hard and make a good living. And hopefully he has learned a lesson or two here – especially considering time spent by all the posters here on their helpful hints. But as other have said, I like that at least some young people today see a Tesla as a dream car rather than a Maserati and its atrocious fuel efficiency, and this is one more purchase toward electric mobility being adopted in society.
Sorry to hear about your troubles 
