Need advice on buying a Kirkham cobra

[xlr8or]

Keep an eye on the for sale section here and cobracountry.com and see if you find one you like. If not just call Kirkham tell them what you want and order it.

[jhv48]

Since you are retired, I would not take money out of the house for a toy purchase. Nor would I tap into a 401k unless you have to in order to survive.

If you do not have the cash to buy it outright, you might not be able to afford it. I wouldn't advise you to place your home in jeopardy by taking out a heloc. Those interest rates are adjustable monthly and will climb as the economy recovers. Save that money for an emergency.

Cash is the only way to go. And the attitude of anyone that says "buy it now no matter what" is what got Americans into the financial fix they're in right now.

Cash is king. "It's good to be the King"

Signed,
the voice of reason

[FatBoy]

I certainly wouldn't risk everything to buy a toy, but I see no reason why you shouldn't risk as much as you can afford to lose to get it.
As has already been said, you never know what tomorrow will bring and come the day of judgement, you don't want in a position where you're regretting not having done all manner of things.
I had a serious health scare a few years ago and it does give you a different perspective on these things.

Paul

[HI Cobra]

Spend some time doing two things -
1) research what you want in the Kirkham and how you want it built to suit
you - don't rush.
2) Set your limit on what you want to pay and start saving/allocating the $
to achieve this goal.
Watch what is happening on the market so you are familiar with it and wait.
If you can't wait for "the deal" make your own with the Kirkhams.

Took me about 5 years but well worth the wait.

[Lew Ledyard]

In order to make this thread "fair and balanced":

GO FOR IT!!!

[jhv48]

Originally Posted by FatBoy

I certainly wouldn't risk everything to buy a toy, but I see no reason why you shouldn't risk as much as you can afford to lose to get it.
As has already been said, you never know what tomorrow will bring and come the day of judgement, you don't want in a position where you're regretting not having done all manner of things.
I had a serious health scare a few years ago and it does give you a different perspective on these things.

Paul

That's my point. You don't want to outlive your money.

If you can afford to buy it for cash, then by all means do so. If you have to borrow or tap the retirement funds, you can't afford it.

Just don't mortgage your future in order to get it.

For the rest of you, it's a measure of maturity/immaturity to be able to assess your wants and needs and be able to budget and plan in order to achieve your desires.

It's the "gotta have it now" attitude that put this country in a financial tailspin. (Immaturity)

As for me, I would love to buy a nice Gulfstream, but it would seriously impact my retirement nest egg, so I will put it on the back burner until I win the lottery. If I die tomorrow, I will not be alive to miss not having it. If I don't, I have a goal that I will work towards attaining. (Maturity)

Your choice of course. Just don't want you to suffer financially later in life for the choices you made today.

And yes, I am in the Financial Services Sector.