01-22-2011, 09:23 PM
(01-22-2011, 09:20 PM)Laugh Wrote: Infinity you mentioned people saving up and then buying a car but that is bad...what do you suggest using it for?
No no, I didn't say it was bad, the point was that people don't make strategic plans to make sure they are saving money thats left over. You need some type of plan for an early retirement unless you want to be working at an older age still.
That was to show that if people do decide to save up and make plans to have money left over, it's usually wasted later on things like that.
Ex: you save $50 000 for a truck over a period of 5 years, you buy a $50 000 truck the same year. You're back at the financial stage you were at, at the beginning of those 5 years, with no money left over, and you end up in debt, paying more than that $50 000 because of interest.
That's generally the way people plan.