Re: keep repeating this mantra... (archive)

I don't care what a person drives but it seems rich people who drive cheap cars do it on purpose to kind of "separate" themselves. WHO CARES if they saved $350/month on their car payment and put the rest in a mutual fund, where these people hoard their money doesn't impress me. Now if they gave the monthly excess away to charity that would impress me. btw- No one's become rich saving 2-300/month on a car payment.

keep repeating this mantra: "it's only 60 grand", "it's only 60 grand"...

but just dont think about the fact that the same $60k invested today at meager 8% interest rate will be worth about $90k in 5 years. lots more if you do better than 8% (not difficult). a 10% return will get you to $90k in 4 years...not hard to do with any highly rated fund.

otoh, that same m3 you buy today will be worth about $20k in the same 5-year period.

so if owning an m3 is worth pissing away $70,000 in cash over a 5 year period, i think it should be able to do your laundry and give you an occasional bj or something.

but just being the first guy to get to the next traffic light is not worth lighting a match to $70,000 in cash. there a plenty of cars out there that will eat m3's for lunch, and nobody cares that you can carry 3 other people to that next traffic light before anyone else catches up. if anything, your passengers are gunna be pretty pissed off at you, or start throwing up in your back seat, or both.

a lot of you guys should keep in mind that the vast majority of millionaires drive cars costing less than $25k. you don't get rich by pissing away money of losing propositions like overpriced GT cars, and there is a lot more to life than having the fastest car in the trailer park.

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