I'm sure there are many reasons for buying one and I'd like to hear from everyone on what they are as there may be a couple I never thought of.
I'm a mechanic in every category you can think of and one has been in the field of electric lift trucks since I was 16. I'm now 54 and I've been waiting for a car like the Tesla ever since then. Alternative energy has also been a passion for me but it has never been affordable until 2009. What a tipping point!
This last November my wife and I met with some financial planners, one of which was 24 years old, to setup a trust for my three kids, we did this and they advised us we also needed 2.5 million stashed away to retire with to maintain our same lifestyle until age 99 and I needed to maximize my 401K. 99 I said, That was pretty unrealistic.
They reviewed all my assets and accounts and said we haven't reviewed a couple like you before. You have no debt except monthly credit card payments which you pay off each month. You have almost no utility bills. How are you doing this? My first answer was "I've worked everyday of my life since I was 5 and had my first real job at 15 and paid cash for most everything except the biggest expenses and paid those off as well through hard work. That's how my parents taught me."
Well, I said. I use to spend all my money on electricity to power the house and natural gas to heat it and gasoline and diesel fuel to transport ourselves to and from work. It was costing us $20,000+ per/year with no end in sight so we decided to reduce our energy usage before I reach retirement age. In other words I'm paying my future debt down by investing in something I can control now which is energy efficiency.
I also told them that I had put away a lot in my 401k in the past and had it pilfered by 4 recessions so I had enough of the traditional formula to achieving my American dream.
We showed them pictures of my solar panels and then I showed them the picture of the $100,000 Model S I bought in 2010 but had not received it yet. They looked at me as if I had lost me mind. "What's a Tesla?" "You should be investing that money". I said I am. I drive 20,000 work related miles per/year and I get mileage reimbursement for it and with that and the difference in fuel economy from the vehicle I am currently driving the savings will make my monthly car payment and in 5 years the car will be paid off and then the next few years after that will be money in the bank.
I don't disagree with saving and investing and we do, but for someone of our income bracket we must also live within our means. This car was an economic choice first, then an environmental choice, then finally a "This car is so frickin cool I have to buy it".
We have a tax meeting with them next week and they left a voicemail this week reminding me of this and said "please bring the car. We all researched it after our last meeting and saw it at the autoshow in Detroit. Everyone at the bank wants to see it."
I also have 425 shares of Tesla stock which I'm thinking will pay for the car in the next few years.
I'm a mechanic in every category you can think of and one has been in the field of electric lift trucks since I was 16. I'm now 54 and I've been waiting for a car like the Tesla ever since then. Alternative energy has also been a passion for me but it has never been affordable until 2009. What a tipping point!
This last November my wife and I met with some financial planners, one of which was 24 years old, to setup a trust for my three kids, we did this and they advised us we also needed 2.5 million stashed away to retire with to maintain our same lifestyle until age 99 and I needed to maximize my 401K. 99 I said, That was pretty unrealistic.
They reviewed all my assets and accounts and said we haven't reviewed a couple like you before. You have no debt except monthly credit card payments which you pay off each month. You have almost no utility bills. How are you doing this? My first answer was "I've worked everyday of my life since I was 5 and had my first real job at 15 and paid cash for most everything except the biggest expenses and paid those off as well through hard work. That's how my parents taught me."
Well, I said. I use to spend all my money on electricity to power the house and natural gas to heat it and gasoline and diesel fuel to transport ourselves to and from work. It was costing us $20,000+ per/year with no end in sight so we decided to reduce our energy usage before I reach retirement age. In other words I'm paying my future debt down by investing in something I can control now which is energy efficiency.
I also told them that I had put away a lot in my 401k in the past and had it pilfered by 4 recessions so I had enough of the traditional formula to achieving my American dream.
We showed them pictures of my solar panels and then I showed them the picture of the $100,000 Model S I bought in 2010 but had not received it yet. They looked at me as if I had lost me mind. "What's a Tesla?" "You should be investing that money". I said I am. I drive 20,000 work related miles per/year and I get mileage reimbursement for it and with that and the difference in fuel economy from the vehicle I am currently driving the savings will make my monthly car payment and in 5 years the car will be paid off and then the next few years after that will be money in the bank.
I don't disagree with saving and investing and we do, but for someone of our income bracket we must also live within our means. This car was an economic choice first, then an environmental choice, then finally a "This car is so frickin cool I have to buy it".
We have a tax meeting with them next week and they left a voicemail this week reminding me of this and said "please bring the car. We all researched it after our last meeting and saw it at the autoshow in Detroit. Everyone at the bank wants to see it."
I also have 425 shares of Tesla stock which I'm thinking will pay for the car in the next few years.
. I do tend to love new technology, however. I buy every new electronic toy I can get and am usually among the first to do so. Actually, I have an HD dvd player and a bunch of movies if anyone is interested. I'm curious to know what motivated others to buy. Is it the fact that it is better for the environment, or just a cool car or what?
