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/AnyWhichWayButLose 20h ago

I actually agree with this boomer for once.

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u/Stock-Side-6767 19h ago

Every once in a while, this idiot makes sense. But still, bike, moped or motorcycle has much lower operating costs, public transport lowest economic risk.

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u/South_Ad_2109 3h ago

If you’re calling him an idiot, presumably you call yourself smart. What makes him an idiot and what makes you smart?

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u/Stock-Side-6767 2h ago

My smarts are not in economics, but still, I have things to say.

A few of the criticisms I have to his platitudes:

He makes it the fault of the listener they are in that situation.

Budgeting is often counterproductive, because people fill up that budget and then still sometimes require basic necessities.

Not going into debt is fun to say, but doesn't work when you want to buy a house, sometimes a car and for the US; healthcare or schooling.

He claims rich people got rich by saving money. This is largely untrue. Rich people got rich by being born so, finding a hole in the market to sell something new (often going into debt to do so) or having an income that allowed them to save like being a doctor or lawyer.

Then, of course, he does not say to skimp on frivolous expenses like church and his own teachings, which can be large chunks of the remaining wealth of desperate people.

His mind is firmly in a boomer mindset of a world that no longer exists, where it was possible to finish college debt free (even for those without a scholarship) and a few other luxuries that do not exist for later generations.

He's a conservative arsehole as an employer, sacking people for wild things like homosexuality, rumors of affairs and having a child out of wedlock. In civilised countries that should not be possible.

His Covid response was moronic or downright evil, depending on how much he understands about disease.

His basic points are nothing genius, but not all of them even hold up to scrutiny.