I never said billionare ever. Also I have said several times that my definition of rich is those whose net worth is over 1 million. Also I never said that my definition of rich was being on the Forbes 400 list. Next time you should read more carefully.

Ramsey makes money from advertisers because he is a radio talk show host. That's how radio talk show hosts make their money. He has to charge for his services, how else could he pay his staff? Besides he gives away his stuff free to people all the time. He doesn't need anybody's money. Funny how people end up making someone else the subject of the arguement. (Someone doesn't like what someone else's ideas so they attack the person, not the ideas.)

As far as rich people buy expensive cars, I never said that if you were rich you couldn't buy a new car. I said rich people don't usually buy new cars. Even Ramsey says the only people who should buy new cars are those who have a million dollars. Seeing as Gates is worth over a billion he could easily spend tens of millions on bringing a non DOT approved car to the US. As far a Jay Leno goes, I don't think he bought all his cars doing standup in cheap comedy clubs, nor does The Tonight Show pay minimum wage.

I'm glad you're happy with your $100k income, $250k house, and your $800 a month in car payments. Hopefully life won't sneek up on you one day and you find yourself without your job. Well acutally for a $100k salary, say you bring home $65,000. A 30yr fixed 250k mortgage at 5% is around 1350, which is right on 25% so that's right where it should be. I guess it is true though that the average car payment in America is $400. Just think if you didn't have any car payments you could increase your savings to 30k/year.

The fact is I have made a choice. I decided that the only people who benefit from debt are the lenders.

Ponder this for a while. Nobody buys an investment that is guranteed to lose 60% of it's value in 4 years and keep going down. People who do that would be considered idiots. Here's a tip, nobody cares what kind of car you drive.

 

Well, there's no such thing as a guaranteed investment, however there are investments where you hope the value goes down. It's called selling short.

 

All the rich people that I know personally, don't buy new cars, and they don't buy used cars either.

They lease new cars for 2 years, pay the 2 year note up front, and drive away. Repeat in 2 years.

They have all told me the same thing......... "Never buy anything that depreciates. Always rent or lease things that lose value. Only buy things that appreciate."

Sounds like good sense to me.

 

Oops, I misspelled guaranteed. I should use the spellcheck provided.

People who sell short do so to make money. If you sold your car after four years I don't think you would end up with more money than you paid for it.....

 

I never said I made $100k per year or those were my debts/payments. It was an example. My numbers are different than the example I listed.

Yes, that is (partially) true. My piont is that said example person may not need to save an extra $10k per year. He already has enough money saved for retirement, saved for rainy days, saved for emergencies. Why not start enjoying the extra income now?

That's your opinion and choices made based on them. I don't have a problem with it. My opinion is different. Great world we live in to each have them!

[quote]
Ponder this for a while. Nobody buys an investment that is guranteed to lose 60% of it's value in 4 years and keep going down. People who do that would be considered idiots./[quote]

Then why by a 4 year old vehicle? It, too, will lose 60% of its value in the next 4 years. The nominal amount would be smaller than the same vehicle new, but rate of return is similar. I have read the same as kool aid, that many people with more wealth than I have lease expensive vehicles. Pay for the use of the vehicles for as long as they want to use them. Nothing more, nothing less.

The fact is transportation costs money. Vehicles are not investments as most people think. If one buys a new $15k vehicle and drive it 10 years and junk it or buys a 4 yr old vehicle for $15k and drives it for 6 years (also a 10 yr old old vehicles) and junk it, the used buyer paid more for transportation than the used buyer. The used buyer probably got a nicer/larger vehicle, but it still costs more.

Wrong. I care what kind of vehilce I drive. Maybe you meant nobody else cares what kind of vehicle I drive. That's fine with me too.

 

Investments have no gurantees at all, they are all speculation and chance about the same as putting your money on the Craps table…

All I know is I out smarted many and did very well for myself with my investments. My Lightning that I sold did very well, and my new Mustang GT is doing extremly well compared to all the suckers, or idiots if you prefer, who bought stock in Enron…

Also I will repeat this one more time, without debt, that is a reality, this country would come to a screaming hault, no ifs, ands, or butts about it...

 

Don’t bitch at consumers for issues with debt but rather the federal government they are largely responsible for the debt in this country because of all the hand-out for lazy programs that take TONS of cash out of OUR pockets.

If I was able to keep all my tax money stolen by the lazy people I could have a very nice home since it would equal to a nice mortage payment…

 

That's not too bad. If you play Craps right you have at least respectable odds. Man I love craps.