I agree that buying a used car is the best thing to do financially but it can come with a lot of hassles. First off most people don't maintain their cars well. You have to get the used car inspected thoroughly by a private mechanic and even then that is no guarantee that he will catch everything wrong with the car. That's why I prefer paying cash and buying new. The difference with me is I always keep the car at least 15 years and preferably longer. I have been doing it that way for the past 45 years.
I don't regret buying new. I intended to buy used and pay in full, so I had a sizable sum saved. But, when it came time to actually get the car, the used cars were so overpriced that the nice, low milage, good condition cars were about the same amount as a brand new Toyota Camry. Either way, I was going to have to finance even with my sizable down payment. I decided to go with the brand new Camry. Zero regrets. I love the car, and I will be paying it off this month!
A question that could have been asked is, "Why has the U.S. market wildly outperformed just about all other stock markets in the world?" Will this continue? I'm dumping my developed markets and emerging market index funds because their returns have been garbage next to U.S. market returns. And I've had those funds for over 10 years, so the U.S. outperformance is a long-term phenomenon.
I invest in index funds. I realize that, for index funds to work, there has to be some active investors influencing stock prices. The few investors who are smart enough to do that well will beat the market and are justifiably rewarded. I'm not one of them.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Melissa Elise Robinson for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks to finding the Ramsey plan 15 years ago, I’ve only ever bought used cars for under $20K, all in cash. I have no debt except my mortgage, which is almost paid off.
I like the idea of having no car payment, but the reality is getting rid of my car payment just means I get to eat enough food a day. It's still worth doing, but its not really going to help me financially.
My family convinced me to lease a car and my ex at the time was so against it. I will admit-he was right. Now I ended up having to drive way more than expected, so reliability was good, but def went over mileage and it was way too expensive for what I made. I have to buy it out now and luckily I was able to extend it so I can pay it off, but next time only certified used. 🤞🏼
Me sitting here on a paid-off Toyota my parents bought in 2006… this is like when people advise I should cut out soda to lose weight. I don’t drink soda, ever. 😅
My wife and I enjoy these short videos from RS. We are beyond the metric you discuss for buying a new car but still can not stomach the depreciation and loss of investment capital. We try to find reliable vehicles (Toyota, Infiniti, etc) that have plateaued after their steep initial loss.
By this line of thinking buying anything that could be replaced by something cheaper is dumb. But I bet you she buys steak over pork sometimes or flavoured beverages of water. How about her nice décor in the background which serves absolutely no purpose whatsoever. Almost everything loses value when considering opportunity costs. At some point you have to include your own happiness in the equation. Yeah my M5 will lost monetary value over the years but the smile on my face when I drive it is worth something too.
Food depreciates 100% in days. What do I do about that? And you lose “a little” money in mortgage interest? Have you seen the rates lately? 15 years you’re paying 60% in interest alone. 30 years, 150%. You’re paying double the price and then some
If you are paying cash for a car don't expect a good deal. Most car salesmen think cash is trash. They make more money from financing and selling extended warranties than they do from actually selling cars these days. Just as credit card companies consider people that pay in full every month deadbeats car dealers are not fond of cash buyers. The dealer gets paid from whoever is giving the loan and its easier to upsell people only concerned with a monthly payment add-ons like extended warranties, service plans and other extras. A lot of incentives car makers offer now consist of special financing offers with no option of getting a discount instead. I still pay cash but its frustrating that paying cash makes car buying even more of a hassle than it usually is.
It is not but it is, why? Your car takes you to work so you can make money, if you do landscaping you need a car to transport your tools, if you do construction you need a car to load it with tools/materials If you do Uber, Lyft, food delivery etc your car is an investment, if you have a big new car that burns a lot of gas only to cruise around or go to work then that’s not an investment because you’re burning too much gas so you need a smaller older car.
Great video! I really do have a question. For someone with less than $5,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
I've been trading by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?
YES!!! That's exactly her name Katherine Maggie so many people have recommended highly about her and am just starting with her from Brisbane Australia🇭🇲
$50K 60-month loan at 7.5% costs just over $10K in interest alone! 4 years ago you could get a 2% loan. $50K 60-month loan at 2% costs just under $2.6K in interest.
That truck payment is fake. He would have to had gotten an 85,000 loan for 84 months at a 25% interest rate and put nothing down for that much interest. Maybe he did. but 90% of the internet is fake
@@ornametrics Yah, it's not supposed to appreciate. Its depreciation is normal, just like appliances and other machines. That's why it's an asset, but not an investment.
A car is not an investment. It is a tool. My last car was paid off within one year and I drove it for 17 years. Yes, I have a loan on my new royota but it will be paid off within 2 years and I intend to drive it for many years.
Even if you do have a million dollars, it’s still a dumb idea to drive a brand new car. Even Warren Buffet one of the richest men in the world drives an older car.
I really appreciate the dedication in each video you post. Passive income does have a way of liberating people, I remain eternally grateful to Katherine Stewart for her efforts that got me to this point, finally payed off my mortgage and all my debts, what more could I've asked for. keep up with the good videos.
Car loans ARE a bad investment, but one that is even worse is buying something using leverage. Now THAT will wipe out ALL of your equity, bot it won’t stop there. Leverage amplifies gains, but it also amplifies losses. That’s why the calling it being “under water.” Stay “under water” too long and you drown (financially).
So you should just walk everywhere? A car is not an investment so stop talking about it like it is. It is a tool that's needed to get you places and to get you to work so you can have money for investments, come-on.
*Wow😁, it's crazy how some people can become multimillionaires by investing just $10K in trading within a few months, while others have to work for 40 years to reach $1M in retirement savings. The power of smart investing, right?*
That's true. a lot of people today have been having a ton of disappointments in forex and crypto trading in light of helpless direction and awful specialists
I've been following Dave for over 15 yrs and Rachel for the last 10. I feel like I've grown up with them! With that said, Rachel....that hair style isn't working.
I agree that buying a used car is the best thing to do financially but it can come with a lot of hassles. First off most people don't maintain their cars well. You have to get the used car inspected thoroughly by a private mechanic and even then that is no guarantee that he will catch everything wrong with the car. That's why I prefer paying cash and buying new. The difference with me is I always keep the car at least 15 years and preferably longer. I have been doing it that way for the past 45 years.
I don't regret buying new. I intended to buy used and pay in full, so I had a sizable sum saved. But, when it came time to actually get the car, the used cars were so overpriced that the nice, low milage, good condition cars were about the same amount as a brand new Toyota Camry. Either way, I was going to have to finance even with my sizable down payment. I decided to go with the brand new Camry. Zero regrets. I love the car, and I will be paying it off this month!
A question that could have been asked is, "Why has the U.S. market wildly outperformed just about all other stock markets in the world?" Will this continue? I'm dumping my developed markets and emerging market index funds because their returns have been garbage next to U.S. market returns. And I've had those funds for over 10 years, so the U.S. outperformance is a long-term phenomenon.
I invest in index funds. I realize that, for index funds to work, there has to be some active investors influencing stock prices. The few investors who are smart enough to do that well will beat the market and are justifiably rewarded. I'm not one of them.
if you don't have experience or don't have time to monitor your portfolio, you should consult with a fiduciary to guide you.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
Pls how can i meet this advis0r? i want someone to help me invest an Inheritance, i dont want to lose it to inflation
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Melissa Elise Robinson for years and highly recommend her. Look her up to see if she meets your criteria.
The quality of what you buy makes a huge difference. Toyota and honda are two of the best in my humble opinion.
Completely agree!
I am on my fourth Honda. I rarely had any issues with them
Thanks to finding the Ramsey plan 15 years ago, I’ve only ever bought used cars for under $20K, all in cash. I have no debt except my mortgage, which is almost paid off.
Thats why I'm still rolling in my 09 car. I bought it brand new but I bought it for the long haul.
Cars and houses are lifestyles, not investments.
No one should consider their cars as investments. They're either a necessary depreciating asset or merely toys, depending on what you use them for.
I like the idea of having no car payment, but the reality is getting rid of my car payment just means I get to eat enough food a day. It's still worth doing, but its not really going to help me financially.
My family convinced me to lease a car and my ex at the time was so against it. I will admit-he was right. Now I ended up having to drive way more than expected, so reliability was good, but def went over mileage and it was way too expensive for what I made.
I have to buy it out now and luckily I was able to extend it so I can pay it off, but next time only certified used. 🤞🏼
Get that ex back asap! 😅 It was definitely a husband material 😆
Me sitting here on a paid-off Toyota my parents bought in 2006… this is like when people advise I should cut out soda to lose weight. I don’t drink soda, ever. 😅
My wife and I enjoy these short videos from RS. We are beyond the metric you discuss for buying a new car but still can not stomach the depreciation and loss of investment capital. We try to find reliable vehicles (Toyota, Infiniti, etc) that have plateaued after their steep initial loss.
By this line of thinking buying anything that could be replaced by something cheaper is dumb. But I bet you she buys steak over pork sometimes or flavoured beverages of water. How about her nice décor in the background which serves absolutely no purpose whatsoever. Almost everything loses value when considering opportunity costs. At some point you have to include your own happiness in the equation. Yeah my M5 will lost monetary value over the years but the smile on my face when I drive it is worth something too.
Food depreciates 100% in days. What do I do about that? And you lose “a little” money in mortgage interest? Have you seen the rates lately? 15 years you’re paying 60% in interest alone. 30 years, 150%. You’re paying double the price and then some
If you are paying cash for a car don't expect a good deal. Most car salesmen think cash is trash. They make more money from financing and selling extended warranties than they do from actually selling cars these days. Just as credit card companies consider people that pay in full every month deadbeats car dealers are not fond of cash buyers. The dealer gets paid from whoever is giving the loan and its easier to upsell people only concerned with a monthly payment add-ons like extended warranties, service plans and other extras. A lot of incentives car makers offer now consist of special financing offers with no option of getting a discount instead. I still pay cash but its frustrating that paying cash makes car buying even more of a hassle than it usually is.
A car is not an investment. With that said, you should own your car outright. You shouldn't have a car payment at all.
It is not but it is, why?
Your car takes you to work so you can make money, if you do landscaping you need a car to transport your tools, if you do construction you need a car to load it with tools/materials
If you do Uber, Lyft, food delivery etc your car is an investment, if you have a big new car that burns a lot of gas only to cruise around or go to work then that’s not an investment because you’re burning too much gas so you need a smaller older car.
In my opinion a car IS NOT an investment. In fact I don't believe a vehicle is an asset. I classify a vehicle as a depreciating liability.
You forgot to mention that the lady in the 1st video said that she stopped paying for her car payments🤦🏻♂️
Great video! I really do have a question. For someone with less than $5,000 to invest, how would you recommend we enter the market? I am looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What’s your take on this approach?
I've been trading by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?
YES!!! That's exactly her name Katherine Maggie so many people have recommended highly about her and am just starting with her from Brisbane Australia🇭🇲
Legend says "If you don't find a way to make money while you sleep, you are fated to die working" and it turned out to be true.
This sounds so good and I would like to be a party to this, is there any way I can speak with her?
she's mostly on Telegrams, using the user name
$50K 60-month loan at 7.5% costs just over $10K in interest alone!
4 years ago you could get a 2% loan.
$50K 60-month loan at 2% costs just under $2.6K in interest.
25 percent of take home pay will have most people living in a box under the bridge
We buy used from private sale and pay cash.
That truck payment is fake. He would have to had gotten an 85,000 loan for 84 months at a 25% interest rate and put nothing down for that much interest. Maybe he did. but 90% of the internet is fake
I ran those numbers on a loan amortization calculator and I get a 14% rate on loan.
What idiot signs up for a 14% car loan??
Is it weird that I see a car more as an appliance or a tool, not an investment??? I mean, it's a fixed asset. 🤷♀
That's exactly what it is, it provides a service to you! It is an asset, yes but it's more so a liability.
@@ornametrics Yah, it's not supposed to appreciate. Its depreciation is normal, just like appliances and other machines. That's why it's an asset, but not an investment.
A car is not an investment. It is a tool. My last car was paid off within one year and I drove it for 17 years. Yes, I have a loan on my new royota but it will be paid off within 2 years and I intend to drive it for many years.
I know nothing about trading /investment and l'm keen on getting started. What are some strategies to get started with?
As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided
by a widely known crypto
consultant
Stephanie Aaron Trentham
This is correct, Stephanie strategy has normalized winning trades for me also, and it's a huge milestone for me looking back to how it all started..
Yes, I agree with you. Her platform is wonderful, and her strategies are exceptional
Please educate me. I've come across this name before. Now I am interested. How can I reach her?
👍🏾; what about insurance that out paces inflation??
Even if you do have a million dollars, it’s still a dumb idea to drive a brand new car. Even Warren Buffet one of the richest men in the world drives an older car.
That he probably bought new.
I agree if you're only worth a million but Warren is worth 130 BILLION! He can afford a new car! lol
Still driving my 2008 Chevy Silverado I bought new……put a remanufactured engine in at 276K
A car isn’t an investment?
Let's change our language around car loans. They are in no way an investment. They are entirely a liability.
I really appreciate the dedication in each video you post. Passive income does have a way of liberating people, I remain eternally grateful to Katherine Stewart for her efforts that got me to this point, finally payed off my mortgage and all my debts, what more could I've asked for. keep up with the good videos.
I'm surprised that this name is being mentioned here, I stumbled upon one of her clients testimonies on CNBC news last week...
Katherine Stewart strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
Really you people know her? I was even thinking that I'm the only one she has helped walk through the fears and falls of trading
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
The first time we had tried, we invested $1400 and after a week we received $5,230. That really helped us a lot to pay our bills.
What is the relevance of $1 million dollars? It seems like a completely arbitrary number pulled out of thin air because people like to hear million.
Car loans ARE a bad investment, but one that is even worse is buying something using leverage. Now THAT will wipe out ALL of your equity, bot it won’t stop there. Leverage amplifies gains, but it also amplifies losses. That’s why the calling it being “under water.” Stay “under water” too long and you drown (financially).
More like 2-3 million dollars in income a year. A million is not much these days.
bUt iT'S LiFEstYLe!!!!!
*having multiple kids by multiple people.
Yeah don’t do that either 🤣🤣🤣
🔥🔥🔥
So you should just walk everywhere? A car is not an investment so stop talking about it like it is. It is a tool that's needed to get you places and to get you to work so you can have money for investments, come-on.
This is a misleading title. Cars are not investments. I thought this was going to be about investing.
Cashing in your retirement to pay for your entitled daughter's wedding.
*Wow😁, it's crazy how some people can become multimillionaires by investing just $10K in trading within a few months, while others have to work for 40 years to reach $1M in retirement savings. The power of smart investing, right?*
That's awesome!!! I know nothing about investment and l'm keen on getting started. What are your strategies?
As a beginner, it's essential for you to have a guide. Myself I'm guided by Mrs Victoria K Walter, a widely known consultant
If you are using really a good broker or account manager is easier to earn from the market
That's true. a lot of people today have been
having a ton of disappointments in forex and crypto trading in light of helpless direction and awful specialists
I've been trying to trade but I keep making losses and it's frustrating
The average car in USA right now is $46,000. Thanks Biden
Thank consumers. Supply/demand. If people start saying no, the prices will come down.
You should blame that on the greedy car companies and not a politician. My opinion.
@@jwarnstarsmile Toyota doesn’t care. They are having horrible sales this year. Just keeping them on the lot
@@josephkelleher8820cars are expensive because of government mandated features people don't want
I want a new car😂
I do not even take my vehicles into account in my net worth because they are paid off and lower value (
An expensive wedding
I've been following Dave for over 15 yrs and Rachel for the last 10. I feel like I've grown up with them! With that said, Rachel....that hair style isn't working.
Buying anything with a engine as Senior Ramsey Says is still the worst investment for me 🫡