[DMCForum] Fwd: [DML] Re: New Delorean
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[DMCForum] Fwd: [DML] Re: New Delorean



Sending here, since the DML doesn't want it there (& I don't blame 'em).

-Ryan

---------- Forwarded message ----------
From: Ryan Wright <ryanpwright@xxxxxxxxx>
Date: Sep 5, 2007 2:29 PM
Subject: Re: [DML] Re: New Delorean
To: dmcnews@xxxxxxxxxxxxxxx


Ed,

> I didn't want to wait till I was 40 to be able to buy one for cash

Why would you have to wait until you were 40? Unless you're already in
your late thirties? If you can get a 4 year loan for a car, then you
can probably buy it for cash with 3 years of savings. Anyway, I'm not
telling you what to do. It's your money, your life. I'm just some
silly guy offering unwanted advice on an email list. :)

Jack:

> I was only making roughly $26K a year and I worked my ass off to get my car.

I'm not saying there are people who "should" or "should not" own a
DeLorean. This isn't elitism here and I'm not being snobby or telling
you what to do with your life. But consider something: If you invested
that ~$350 a month car payment into good mutual funds instead of
sending it to your bank, and if you did that for 4 years, you'd have
~$21,600 in cash. Assuming you started at age 21 and ended at age 25,
and assuming you then left that $21,600 alone and didn't add a dime to
it for the rest of your life, when you turned 60 you would have nearly
$1.4 million dollars in that bank account.

If you CONTINUED investing that car payment, $350 per month, until age
60, you'd have $3.6 million.

So you people can talk all you want about how you can "afford" a
$20,000 car on a $30,000 income but it still doesn't make it a good
stinkin' idea. You're going to regret it when you're 60 and living on
what's left of the social security system while I'm sitting off the
coast of Fiji sipping expensive champagne in a multi-million dollar
yacht. You don't have to be rich to do that, because I'm NOT rich and
I WILL be sitting in that yacht. If you can afford a $350 a month car
payment then you can clearly afford to retire with millions in your
bank account.

Isn't that something? A blue collar worker earning twenty six grand a
year could retire with millions and millions of dollars, if only he
was wise enough to drive a $2,000 paid for car instead of making
payments on a $20,000 DeLorean...

Food for thought.

-Ryan


 
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