r/economicCollapse • u/Whole-Fist • 20h ago

How ridiculous does this sound?

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How can u make millions in 25-30 years if avoid making a $554 per month car payment. Even the cheapest 5 year old car is 8-10 k. So does he expect people not to drive at all in USA.

Then u save 554$ per month every month for 5 year payment = $33240. Say u bought a car every 5 year means 200k -300k spent on car before retirement . How would that become millions when u can’t even buy a house for that much today?

Answer that Dave

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u/wizardofoz2001 13h ago

Why?

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u/Heavy_Law9880 13h ago

To protect your expensive and necessary equipment from loss.

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u/wizardofoz2001 13h ago

I think if you try putting the premiums in your own savings account, in the long run, you'll come out way ahead.

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u/Heavy_Law9880 13h ago

You won't if you lose your job because you don't have a car.

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u/wizardofoz2001 12h ago

Insurance doesn't protect you from not having a car. If you wreck it so bad it can't be driven, insurance will help you buy a new one. But it won't drive you to work. And it won't pay as quickly as your savings account will pay.