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Originally Posted by AznBRZer
 Yeah, we're all bitter because we're not millionaires by 30 as if that should be everyone's life goal. |
Providing for your family SHOULD be everyone's life goal. What if you get hurt and could never work again? Do you have money to support you and your family comfortably for the rest of your life? It's called "financial peace." Never having to worry about "what if" because the "what if's" are taken care of. If you die, your family is still taken care of.
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Originally Posted by AznBRZer
Pretty sure no one here is telling anyone how to become rich. If $1500 in interest over 5 years will make or break someone, that person couldn't afford the car to begin with.
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It's not just that interest that can make someone. If you were to invest $464 a month (average car payment) into a good mutual fund from age 30 through age 70, you would have a little more than $5 million dollars with 12% interest mutual fund.
Investing just that interest alone for 30 to 40 years would net you a pretty great return. I can promise you it will be worth more than that car will be.
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Originally Posted by AznBRZer
If the path to wealth was just being debt-free, there'd be a lot more wealthy people out there. Look, I get it. No one wants to have to pay someone to borrow money, but that's the system we have until a better one comes along. Either way, we're talking about interest on a $25k car loan and not a $400k mortgage or business loan. Take it down a notch, hot shot.
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This couldn't be more inaccurate. If you follow any of Tony Robbins books, or have read T.Harv Eker's "Secrets of the Millionaire Mind", they both go into many reasons why more people aren't wealthy/rich. Both of those authors are multimillionaires.
With all due respect, maybe it's time that you do some reading. This stuff is really cool and it takes a certain mindset to actually follow through with it and become wealthy.
This system of borrowing money is a fairly recent thing. It's gotten crazy out of control. I have no problem being the odd man out.