How much money should a 40 yr old have saved for retirement before buying a $25k Harley?

A friend of mine is considering purchasing a fairly loaded Harley to the tune of $25g's. Being 40, he wondered how much money he should have in investments or in the bank before pulling $25k out to buy a bike. I thought $200k (not including any home equity), but other friends of mine said they'd finance a Harley even if they had $0 in the bank. How much should someone have before making a purchase on a luxury item like a Harley?

How much money should a 40 yr old have saved for retirement before buying a $25k Harley?
If he has the money, he should get the bike %26amp; worry about retiring later.





You need to live before you die. ;)
Reply:$6250.00





$6000.00 for a new casket.


$250.00 to cremate it.
Reply:If you can't afford to throw $25k down on a bike then you can't afford to retire.
Reply:I would not go with a fixed amount but how about this: If you are meeting your 401K match program at work and you are contributing the maximum amount to a Roth IRA annually then you are doing enough. If he can meet these conditions and still make the bike payment then go for it. If he waits for 200K he might not get the bike for another ten years. However DO NOT dig into savings for the bike. The real money in long term investments is compound interest which he would be loosing. The trick is to invest over time not to deny your self a life.


Add on: Is everyone on here twelve years old? all the answers that say get the bike, to hell with the future are getting good marks. I like my bike but if I could not take care of retirement first I sure wouldn't have gotten a bike. You are not sure you will live that long but can you guaranty that you will die before then?
Reply:all you can
Reply:Hey Kato, if people were smart enough to do research, they would have never bought a Harley.
Reply:Well, I've always said if you don't have the money, then you don't need it!!! The main thing that is wrong in the world today is that everyone seems to think that you don't have to save for something anymore. It's a ( I gotta have it now) kind of world out there and if people don't start realizing that you cannot live on credit, soon, this country and the world are in for a rude awakening. Tell your Friend that he, or she will appreciate this new bike alot more if they wait until they have the cash for it.
Reply:Sounds like alot of extras on his ride. Look at the price of others in its like for sale a couple years old. If you buy a most fx or fl models in a couple years they are still about what you payed for it. You sell it and buy another new one and before long you are riding one under warrenty and have no payment or a small one in a few years down the road.
Reply:What do you care? I agree 100% with Kato. Get a life already. Take your anger, small peni$ syndrome, your plastic Ninja and go away already!
Reply:As important as it is to save for retirement, a guy has to live too. Just as long as it's within his means.


I would hate get old and then realize I could have done more things in my life than sit at the computer and antagonize people whom I don't know and who happen to not have the same tastes that I have. If he really wants a Harley, he doesn't have to spend $25k.


You act as if all Harleys are priced like Gold Wings. Not the case.
Reply:Tell him to look around some... I think he is a bit confused... Most new HD's runs 7K-18K... He sounds like a sucker... But then he is YOUR friend... go figure... Buy a HD and ride it 25 years till he retires... or if he is as slow as you make him out to be he could get a plastic Goldwing for 24K... and scrap it in 5 years!
Reply:A Harley isn't a "luxury" item in my mind. More of a neccessity. Why do you reccomend pulling money out of a 401K? HD has financing available for zero down. A great way to buy a bike or a home these days. Why not enjoy today what you can pay for tomorrow?





He should leave his money in the 401K invested in all stocks. From what I heard, the Dow hit record heights just a few months ago and is doing great. I even heard that the government was going to freeze interest rates on houses. Your friend should look into doing a HELOC to buy his bike since interest rates are steady and housing values won't drop with this great news from the government!!!
Reply:$25k isn't going to pay for ANYTHING when you retire ...... go out and live while you still can ....... You could die of MRSA,get shot by a teenage sniper,die of a heart attack,the Sun could go out,and Ice Age could start tomoorow ala the Day After Tomorrow,an Asteroid could hit the Earth ....... tomoorow is NOT guarunteed ........ treat the present like a Preasent and live it !!!!!
Reply:$250K + 50% equity in his home, and no dangling credit card balance. He also needs his life insurance updated, LOL.
Reply:you need to know how much you want per month to live on when you retire.
Reply:I'm just curious if there is any kind of award for being the biggest jacka$$ on the forum? Your lame sarcasm is getting really old dude. We all get it. You hate Harley's and think the people that buy them are idiots, point made. Now move on with your life already. No one thinks you are humorous. And to all of you that haven't figured it out already, none of his questions are even serious, just simple minded attempts to put down on what someone else has. Do a little research and read some more of his questions.
Reply:Hey HD Willy





Why worry about money? He could always sell a kidney, or two, I guess.





Keep on runnin'
Reply:Has God guaranteed him that he will make it to retirement? Live each day as if it were your last, someday you WILL be right!
Reply:it doesn't really matter


riding is more important to some than others
Reply:25001 $$$
Reply:What a waste of money!!!
Reply:why would you "freind" want to spend that much on a new harley when he could buy a good used one for 14-16k. the only way i will drop that much on a bike is





a if it will give me head





b if its a boss hoss
Reply:25k would be 1/8 of the 200k you proposed. I think he would want to have a lot more than 200k before he spent 25k. And the friends that say they'd finance the harley with $0 are going to be surprised when they see how small social security checks are once they retire.





Once he drives that harley off the lot, it is worth considerably less. I want at least 500k before I wasted 25k.
Reply:Anyone silly enough to buy into the whole Harley scam is too much of a rube to need to worry about wise investment anyway.





Everyone and his geriatric uncle owns a Harely right now, if your foolish friend waited just a few years for the old farts to get too old to hang on to the things he will be able to buy them for a dime a dozen as the younger generation who has no use for the things refuse to buy all the underpowered overweight hogs that will be on the market.





Luxury item? I guess like the emperor´s new clothes were a luxury item.