Your Car Payment is Keeping You BROKE!!
Your Car Payment is Keeping You From Becoming a MILLIONAIRE – Featuring Dave Ramsey @TheRamseyShow – Add me on Instagram: GPStephan
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The average life expectancy is only 72 so I don’t want to save my entire life just to fund a good nursing home for 2 years before I die.
Yeah the whole “put all your saved money in a Roth IRA till you’re retired then enjoy being rich” makes no sense because you’re basically struggling all of your good years and only have real money when you’re old and not doing much with your life anymore. It’s important to have some sort of retirement fund, but I say keep some of your money ready to spend on short term investments that could lead to greater income opportunities
Well if you stop spending 20 dollars a day on McDonald’s then you’ll live till your 90 and have a few hundred thousand more dollars.
@Will_92 just because you don’t eat McDonald’s, does not guarantee you’ll live to be 90. You could be 20 years old coming back from a friend’s house and a drunk driver ends you.
@@trippstudios12😂😂
What’s the point of having 5 million dollars at 70? I wanna enjoy my life while I have my youth
It helps him to keep up the facade. His viewers will hear “5 million” so it will sound like they’re going to be a millionaire just by doing this.
@@markusz_ cause you can become a millionaire by doing it😂 you obviously failed math
Hopefully you’ll retire much sooner than 70. The alternative is still working or worrying about money as an old man, that will suck. True, vacations are probably more fun when you don’t have bad knees but don’t be old and broke
So you’re just going to scratch your head and wonder why you’re broke?
Thank you someone actually said it
That’s why $5 million in 40 years will be worth about $500.
I’m inflation isn’t that bad but 5 mil will be worth a good amount less than today
I went homeless and saved myself $2000/mo rent payment. Investing it should make me multi millions
Have you tried not eating as well saves me thousands a year.
Who tf will invest that much until 70. So what, you can die with 5 million in cash. Start spending at 60, like damn. Live
@@BestoftheInternetHDobesity? Never heard of her
My I’ve already invest about $2,500+~ in my roth ira this year.
I plan to max out my roth this year.
I’m only 24.
Im fixing to retire with between $5-7 million in my accounts.
Keep it up
@@danielpruitt8550 what stocks did you invest in within your Roth IRA?
Yeah but you’ll be 70 when you get it
So what? Do you prefer having 70 with 0 dollars
@@tiagoferreira3173Some of us won’t make it to 70
$186 a month, and almost done with a 60 month contract. I’m glad I got my 2018 civic before all the price jumped up
I owned a Civic before for years. Great car with lots of miles on it until someone hit me and totaled my car. Keep it for a long, long time until it dies. Don’t forget maintenance
@@r4ym1n13i only drive it to work and back home 30 miles round trip. And also an occasional road trip maybe once a year! I hope I make this car last at least 200k miles
Yeah but u don’t pay a car for 30 years
Such a needed reality check—smart car buying is a game changer for real financial freedom 🚗💸
The lack of self-control and vision in the comments are the main reasons many of you clicked on this video. It’s also the reason this will go in one ear and out the other as well.
yeah nah i’ll spend now, take more risks, and earn more now. Not playing it safe and being too old to enjoy my money
Yeah cause i wanna wait till im on my death bed to enjoy life 😂
Missing the point. You can still enjoy life. You should just prepare to enjoy all of it.
Fun fact… wish I had known this… take out a 50k cash loan at the age of 18 and invest in an index. You’ll have 850k from that at age 60 assuming NO MORE CONTRIBUTIONS and 7% annual return…. Fukkkk whyyyy didn’t I do this
Preface: Assuming this isn’t a joke so I apologize in advanced but you don’t wanna do this cause you’d pay about 4-6% in interest every month yielding only about 1-3% annual return, and you’d have interest payments every month. The interest payment would be like $200/mo, after 42 years you’d pay $100K just for that loan
ignoring inflation when advising to invest should be a crime lol
investing allows you to make money from inflation. If you don’t invest, you are a victim of inflation.
$500 per month is cheap for a car payment in 2025😂😂😂
$500 will yield $5M after 40 years at an 11.5% rate of return. Most mutual funds don’t return 11.5% and you would pay a management fee of about 1% reducing your earnings further. His rant also assumes that you’re planning to keep paying for a car the rest of your life. You can get good car off a lease and finance it for 4-5 years and still have some money to invest.
So certain reliable imports e.g. Honda and Toyota depreciate linearly. So if you’re going to drive the car for a long time, the idea that you save by buying a used car is a myth. Said differently, you could either buy one car and have it for twenty years or buy five different used cars over that time. Additionally, think about which strategy is going to cost you less time in buying and repairing the vehicles.
But the total depreciation on those 5 used cars will still be less than the depreciation of a brand new car.
Buy a second hand car for 2000 bucks and we done
I’m not gonna be paying for a car for 30 years this is a ridiculous comparison a car loan compared to a 30 year savings account with 800$ every month
Thank you Dave Ramsey! I now walk 3 hours to and from work on the side of the freeway. Cannot wait until those millions in my 70s 🙂