OldPhart
Well-Known Member
- Joined
- Nov 20, 2018
- Threads
- 44
- Messages
- 431
- Reaction score
- 844
- Location
- Rochester, NY area
- First Name
- Bruce
- Vehicle(s)
- ‘05 GMC P/U, ‘17 Impala, 19 Bullitt
- Thread starter
- #1
Hi - If you feel a little guilty about how much you paid for your Bullitt, you’re embarrassed to admit how much you paid or whatever other reason, there are ways to make it appear different and psychologically better. It just takes a little “creative math”. Here is my method for manipulating the numbers. I sold roughly $50G worth of a stock to pay for my Bullitt. I’ve had the stock for many years and it has split and increased noticeably in value, I assume due to pure luck, certainly nothing to do with my stock picking skill. The per share cost basis of the stock has decreased because of the split so using that lower figure multiplied by the number of shares I actually sold, it only cost me $7,800 to buy the car. That’s how much I invested years ago to get the number of shares (after stock split) that it took to buy the car. I’ll ignore the profit I made because until it was sold, it was an unrealized gain anyway, right? A long time elderly bachelor friend (with ample financial resources) wanted to give me $10G toward the purchase of my car because I’ve been taking care of him for a few years including recently moving him to a senior living facility and cleaning out his old apartment. I’m his POA, health care agent, etc. I was reluctant to accept the gift because of appearances, but he insisted, wrote a check and wished me happy birthday. That means if I subtract the $7,800 my creative math says I paid, from the $10G gift, I’m $2,200 to the good. So I actually gained $2,200 by buying the Bullitt. See how easy it is. You gotta love mathematics. Sorry, but I’m not a tax preparer that can do magic for you next April 15th. I wrote this because it’s snowing, the Bullitt is in the garage for the next several months and I’m retired and bored today. Hope your day is more exciting and yes I’m a bit jealous of you folks who can drive your cars all year... Bruce
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