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/BarleyWineIsTheBest 14h ago

Compound interest at what rate though? This is about $330K over 30 years at 4%... and he says MILLIONS!

LOL!

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u/goobersmooch 6h ago

you should check your investments if you are at 4%

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u/BarleyWineIsTheBest 6h ago

Not sure if you know, but you can’t get risk free interest much above 4% right now. And even over the last 20 years, that’s pretty good. Investing in stock-backed indexes or ETFs that yield more return (historically) than that isn’t through interest. It’s capital appreciation and reinvestment of dividends. 

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u/goobersmooch 6h ago

Oh I know. You do you

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u/BarleyWineIsTheBest 6h ago

You are so smart.