Reply to The balance: saving too little vs saving too much. AND Tesla

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[quote=Anonymous][quote=Anonymous]My parents saved very little (good income, good life, generous with others but very little left). My in-laws save too much (in the last couple of years, they gave their kids 28K each due to estate planning but argue about taking a few hundred dollars flight because it is too expensive).

I am hoping to strike a balance. Enjoy our life now, save enough to enjoy retirement. My husband is more like his parents (he keeps adding oil to his 10 year old dented Civic, sticking two kids back there despite the two doors model and claims it is fine).

Our finance:
We are both mid thirties
240K HHI
200K equity in our 900K house
80K equity in our 230k condo rental
760K in our 401K/roth IRAs (we contribute 47K to these accounts each year)
20K in 529 for 1 and 3 year old (we contribute 10K to these accounts each year)
100K in saving/bonds/general-investing for Emg/whatever
cars are paid but oldish (10 and 9 year old).

My husband is wonderful and he is not into worldly goods/or cars. But he keep talking about how nice the Tesla "concept" is (he did not say he wants one because "the Civic is good for at least another 2 years!"). He commutes 45 min-1 hr each way. I think he will enjoy the Tesla and financial we can take it (80K!) but close.What say you DCUM, should I talk him into it? or am I veering toward spending too much?
[/quote]

Are your kids in public school?  I don't see any payments re: childcare/summer camps, etc.  If you really don't have any child-related expenses, then I'd say you could afford the car.  Our income is similar to yours, but our childcare payment up until last year was equal to our mortgage.  Once I was able to get one into public school, the calculus changed considerably.[/quote]

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