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This is a classic case of old vs the young. Old (er) people always say no to everything. That is because they have done it and are trying to tell the young ones not to make the same mistakes they made. Making a mistake is one thing, but loosing lots of money hurts. Your gramdma might have done really well and are able to buy you a 911 or she might have saved for a very long time for that 12k. IF she did, think of the many days she wanted to buy something with that money but didn't just so that she can give it to you as a college grad present. She will pay any price or do anything to see you smile. Think it through. 12k is not easy to save for an old person. At least have a ppi done first.
This is not what you want to hear but how about this, take the money and save a little tell her you want to buy a buy a house. a bad house, unlike a rusty 911, it will still make you money in th long run. I know, owning a house is dorky, a porsche is cool. Please think about it. My parents are retired and don't have much money but they are trying like hell to save money for my little boy (he's one)and buy him toys just so that they can see him smile and run away with it. That makes their day. If my boy can talk, and say grandpa, I will save this little money and will use it to buy a house with it one day, my dad will have a smile from ear to ear for a week. Just knowing that his hard earn dollar is not going to waste. Remember, a car is a toy and it is a money sucker.
The only way to learn is to loose money. Big money, so big that it hurts you really bad, then you will never make the same mistake again. I give the same talk to my 20 something year old punk kid employees all the time. Everytime, they call me old bastard (I am 38 years young) and don't know how to be cool and forget what it's like to be young. Yet they still rely on my for a pay check, how cool is that.
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