Yes you should do it
Probably doesn’t matter but you should also be able to get $ 200-500 when you salvage the car. I got $250 for a 2009 Nissan versa hatchback 4 years ago and did not shop around.
Yeah last time I donated my junked car to a local charity and was able to write off $500 or whatever because I itemized that year
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I did not know you could donate cars. Great idea.
My dads old Toyota Yaris has been sitting there for 12 months since he lost his license.
Weve been putting it off because of hassle and because we dont want to get ripped off. Donating to a charity would solve a lot of these problems.
“We have $2.2 million at age 32 making $260k can we buy a $1.5 million house oh also my parents offered to buy it all cash for us”
https://www.bogleheads.org/forum/viewtopic.php?f=2&t=392811&newpost=7016102
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Not sure where you live, but NPR does car donations as part of their fundraising campaign every year.
ONE EIGHT SEVEN SEVEN KARS FOR KIDS
K-A-R-S KARS FOR KIDS
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Idk why I liked that. You’ve just ruined my peace for at least the next 3 hours.
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We have some ideas that might help
Bogleheads TSLA dude finally diversified so that TSLA is now only ~20% of his net worth
https://www.bogleheads.org/forum/viewtopic.php?p=6995792#p6995792
A giant wealth transfer from boomers to younger people is both necessary and good. #TeamInflation
Many Bogleheads are immune from losing money, even in years when all asset types fall in value
https://www.bogleheads.org/forum/viewtopic.php?t=139157&start=3450
not sure i get what you are trying to say? it looks like they are a younger person with a very high salary/net worth ratio its completely believable they could have increased their net worth since the downturn would not have impacted them as much as an older person with a higher net worth
I wasn’t talking about any specific poster. Just the impression I got scrolling through the last few days of the topic
ah ok, i assume most people who post on that forum are older (like 40s,50s) and have a higher net worth, i would have no idea how they could have avoided losing money last year, IBonds were basically the only thing that didnt decrease in value and you can only buy 10k/20k of those per year
There are three explanations.
- As inconceivable as this may sound, people on the internet may be lying.
- People are totally delusional about their finances.
- The annual savings rate is greater than 20% of the investment portfolio and the investment portfolio is all they’re looking at. Portfolio down 20% plus new cash flows in is a net positive.
There are a lot of people in bucket 3, even older people. People having an Oh Shit epiphany about retirement when they turn 50 will have low portfolio balances and some of them crank their savings rates WAY up in a mad dash for age 65.
I haven’t read it but I’ve seen a lot of people using home appreciation to give themselves an increase in net worth in 2022. I wouldn’t do that, but I don’t think it’s wrong. It may explain some.
If you had a normal spending year, a decent savings rate and a reasonable AA (not cryptos), and your net worth went down in 2022, then that’s a brag. Mine went down ~1%. Wish I could say 10%.