Originally Posted by Ws6
Mmm...it's not the lender you are a slave to, but your method of making money. If you buy the vehicle outright, you went without while you saved up. If you go with a lender, you get it asap. The worst a lender can do to you is take it away if you fail to pay...but the guy saving doesnt have one either, anyway, so it's not like he is ahead. Further, when it's all said and done, the guy who waited for however long it took him to come up with the money can then brag that his self imposed going withiut saved him a whopping $2k or 3k or so in interest. Meanwhile he'sin a less safe, less reliable, or nonexistent vehicle. Yay him. Im not jealous of his depravity for months or maybe years in exchange for a few grand.
It's kind of a limiting mentality. What if the guy has 100k in the stock market and it goes up 10k and he just takes that 10k and spends it on the car? Then there's no self imposed going without. It's a strange concept anyway, sorta implies that you have to spend every nickel that you earn. Some people earn plenty and have money left over after their expenses are paid.
Originally Posted by DweezilAZ
Originally Posted by The Critic
You still invest in CD's?!
LOL. Why would he not ?
See previous messages regarding investing in the stock market and how returns have averaged about 10 over the last 30 years.
Originally Posted by DweezilAZ
While there were pockets of relative prosperity, 2009 - 2016 was a severe depression in this part of fly over country - I've been through recessions, and know the difference.
Perhaps I did not make my point well. I don't worry about the apocalypse ( much ), although if that happened, I would think land has more utility than a statement from Schwab or some other discount house, and brass and lead will be the only metals worth having. It's a matter of controlling your own destiny. I don't worry whether or not the guy holding my stuff is a thief, a Madoff, an inside trader, or is going to run the business into the ground or cook the books. Not my problem Couldn't tell you what the stock market did yesterday or is going to do next week. Don't care.
The stock market is a national market. For that matter you could also buy international stocks too but historically the US has been stronger. After the pounding the stock market took, it's been on a tear ever since. Buy low, sell high.
Land can be taken through eminent domain. They did try to take Justice Souter's home in NH at one point.
https://www.boston.com/news/nationa...ision-that-threatened-justices-own-homes
If you're afraid of thieves holding your stuff, just stick with the large firms like Fidelity, Schwab, Vanguard, etc. You can also stick with just mutual funds. I always throw out the example of the S&P 500 because even after all these years, it's still true, about 75% of fund managers can't beat the S&P 500 and if they do, they can't do it every year. If you can't beat them you mind as well join them and just buy the S&P 500. Also if you buy stocks, there are certain stocks that don't pay out dividends like Berkshire so you can just hold on until you're ready to sell. Land has taxes every year