What should i spend it on?

[Bush0102]

Well, the good news came in- i recieved a $5218 settlement for a car accident i was involved in back in April. I never sued anyone or anything, but i think the insurance companies got in a big fight and apparently they want to reward me...perhaps its because i'm so good looking!:p

But anyway, the ol' 400 is gettin worn out. I plan to spend about 1200 bucks on her and save another 4000, maybe put it in an IRA or something.

What should i spend the money on? I mostly ride trails and plan to race a few harescrambles this winter. I've got to spend 100 bucks to get the electrical system straightened out (battery disaster at the track...long story).

That leaves 1100 bucks.

I know i'm gonna get:
HMF headpipe to finish my exhaust
Pro Armor Skids and Bumper
Burgard beadlocks
Clutch rebuild kit/gasket set/new a-arm bushings


that should leave around 450 to play with...i guess i could spend a little more than i planned and get some shocks, but i dont think i'm ready to drop 700 bucks on a set of elkas for the front...or am i?:scary:

also, is a dial-a-jet worth the money for the ease of use?

there are some rust spots on the frame as well...sendin it pappy's way is a real possibility as well. How long is your waiting list pappy?

[MY450R]

get the shocks or get a vortex ignition box

[Rico]

Get the shocks first thing. Once you find out how well your money was spent, then ask what to get next.

:cool:

[zephead400ex]

Make sure you put your money in a Roth IRA!:D

[derekhonda]

Good tip, but also make sure you wont need that money til you are 59.5 years old or want to buy a house, because if you pull it out for any other reason than that you will be taxed out your ***.

[zephead400ex]

Originally posted by derekhonda
Good tip, but also make sure you wont need that money til you are 59.5 years old or want to buy a house, because if you pull it out for any other reason than that you will be taxed out your ***.

You have to have a Roth account setup for 5 years, before ANY money can be pulled out, tax free. There are quite a few of things that you are allowed to pull money out of your Roth, tax deferred.

First home
School (you, spouse, kids, grandkids)
Paying for unreimbursed medical bills.
Disability
etc.

[MY450R]

Originally posted by derekhonda
Good tip, but also make sure you wont need that money til you are 59.5 years old or want to buy a house, because if you pull it out for any other reason than that you will be taxed out your ***.
yes i agree stick it in your *****

[400exDuneman]

You can pull money out of a roth IRA without being taxed or penalized. The way it works is that you can take out however much you have paid in, but if pull out more than you have put in you will be paying capital gains tax on it, in addition to penalties. Plus I believe you are only allowed to put up to $3200 a year into a Roth IRA.

[GoOn3]

spend it on beetches, booze, and condoms. You wont regret it. Save it? whatever, it was a gift from us to you, all the damn money I spend each month on car insurance to pay you, so spend it wildly!!!!!!!
Your Welcome.

[zephead400ex]

Originally posted by 400exDuneman
You can pull money out of a roth IRA without being taxed or penalized. The way it works is that you can take out however much you have paid in, but if pull out more than you have put in you will be paying capital gains tax on it, in addition to penalties. Plus I believe you are only allowed to put up to $3200 a year into a Roth IRA.

You are correct. FYI: the early withdrawl fee's usually runs around 10%:eek:

Guess that means that pulling out early is not good:confused: :devil:

[Honda4trax250x]

what kind of injuries did u sustain to get that money?

j/c

[jesshamner]

I'll meet you on the corner of 2nd and Broadway. I'm sure I can help you spend that money in Nashvegas. :D

[Bush0102]

Haha im going downtown tonight!!!

i'll probably be on the corner of 2nd and broad at some point...going to hooters, the wildhorse, and probably the strip club to relieve the pressure in my bank account!

[Bush0102]

Originally posted by Honda4trax250x
what kind of injuries did u sustain to get that money?

j/c


lol a sore neck and a mild concussion. Went to the hospital for like 10 minutes just in case to get checked out...that cost 2000 bucks

[jesshamner]

Originally posted by Bush0102
Haha im going downtown tonight!!!

i'll probably be on the corner of 2nd and broad at some point...going to hooters, the wildhorse, and probably the strip club to relieve the pressure in my bank account!

Sounds like that wreck knocked some sense into you.:blah: I won't be down there any time soon. I'm heading home for Thanksgiving.