Once again you bring up the mathematically impossible!
Average price of new car, just about $25,000, deduct average price of reasonable used car of $15,000 equals $10,000.
Invest $10,000 at 5% compound interest for 30 years = $47.600. To reach $1,000,000 you would need at least $225,000. which is just about the cost of 10 new cars.
Please, either go back to school and learn simple math, or just stop exaggerating to prove a point that can not be proved!
The average middle class individual is lucky enough to make enough money to keep himself/herself above water, and have enough for food, shelter and clothing! Saving large enough monies for investing to become wealthy (especially for families) is just not possible!!
Ultra conservatives such as yourself always seem to want to blame the average middle class working person for their conditions, and it is just unreasonable to do so!!
for some people there is no extra money as big as a new car payment. it’s just paycheck to paycheck. People don’t save because there is nothing leftover TO save. You have to have a pretty decent paycheck to save as much as if it were the payment for a new car. But it can be done, if only $10.00 a month.
What surprises me is how telecommunications costs (cable, phone, internet, cell) continue to increase under the radar. My energy bill averages about $150/mo., but my telecom bill is nearly twice that. We love our iPhones so much we deny how much they effin’ cost us. Put a Verizon bill in that mailbox.
If you truly believe this they your life has been very, very blessed sir. .Others (myself included) have not been that fortunate, though I DO consider myself both lucky and blessed.
frodo1008 over 11 years ago
Once again you bring up the mathematically impossible!
Average price of new car, just about $25,000, deduct average price of reasonable used car of $15,000 equals $10,000.
Invest $10,000 at 5% compound interest for 30 years = $47.600. To reach $1,000,000 you would need at least $225,000. which is just about the cost of 10 new cars.
Please, either go back to school and learn simple math, or just stop exaggerating to prove a point that can not be proved!
The average middle class individual is lucky enough to make enough money to keep himself/herself above water, and have enough for food, shelter and clothing! Saving large enough monies for investing to become wealthy (especially for families) is just not possible!!
Ultra conservatives such as yourself always seem to want to blame the average middle class working person for their conditions, and it is just unreasonable to do so!!
pam Miner over 11 years ago
for some people there is no extra money as big as a new car payment. it’s just paycheck to paycheck. People don’t save because there is nothing leftover TO save. You have to have a pretty decent paycheck to save as much as if it were the payment for a new car. But it can be done, if only $10.00 a month.
taratus over 11 years ago
What surprises me is how telecommunications costs (cable, phone, internet, cell) continue to increase under the radar. My energy bill averages about $150/mo., but my telecom bill is nearly twice that. We love our iPhones so much we deny how much they effin’ cost us. Put a Verizon bill in that mailbox.
echoraven over 11 years ago
If you truly believe this they your life has been very, very blessed sir. .Others (myself included) have not been that fortunate, though I DO consider myself both lucky and blessed.