Invest Your Car Payment Instead

The most powerful wealth building tool is your income, and the most powerful any enemy against your income are expenses. Right now the average American is taking 6 years to pay off you’re their car and also paying $716 per month.

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Obviously First: people think about affording payments and not purchase price, people think about new and not realible, so in this video, lets shatter that.

The average Car is Built Very Well

I have a rule, the best cars are the one you see the most on the road, that are super old, they made it

And when ever I drve the vars I see the most are toyota corolla and honda accords, that are so old but they still run and turn on every single time

Here are the facts:

These are cars are made to last 250k-300k miles, even longer ( I saw this guy last 1Million miles with his volvo )

My point is, a car can easily last 20-25 years if you drive it 12k miles a year

And remember fixing a car is better than spending 30-40k on a new one

What would Happen if you Invested a Car Payment for that Long

Well if you invested $716 for 25 years at 10% return you would have $929,497.73

That’s almost 1M dollars

And I think most people are so use to hearing numbers that it doesn’t really mean anything to them

But lets put it into perspective

If you make 40k year, you’ll earn 1.6Million dollars over 40 years of work

You would have worked 80k hours at $20 to earn that much money, that’s 9 years of real work

Think about that time

Now put this idea into perspective

This is just one part ( the car payments )

What if you bought a cheaper home you could pay off in half the time

What if you paid of your loans

My point is:

All the little things, add up in the end.

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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