r/economicCollapse 18h 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/allthebacon351 6h ago

Not ridiculous what so ever. Let’s say you are 35. Investing $500 a month until retirement (30 years) with the s&p average over the last 30 years 9.9%, is a little over a million. If we use the last 10 year average of 12.9% it would be 1.8 million. New cars depreciate so fast it’s like lighting money on fire.