Me included.
I'm spending way too much cash on my cars.
Always have.

As soon as I got my first job I did as most do and bought a new car. The Firebird I still own to this day.
Ya sure I can get a good coin for it if I ever decide to sell it.....maybe as much as $15,000.

And I did save up later after that and bought a house that is now paid for.

BUT think about this all you younguns who have more a life to life than this old fart.

If I would have invested that $10,000 in real estate at that time 25 years ago, that money would be worth $500,000 in today'* real estate market.

So if there is a lesson to be learned, don't delay that purchase of a house first.
There'* plenty of old Bonne'* around that can be purchased cheap without forking out $40,000 on a new car.

Just my 2 cents.

Actually Paul, that would make you a "fool" with a small "f" Fools with a capital "f" are smart investors that subscribe to the Motley Fool website.

If you really want to feel bad, how about this: I'm reading William O'Neals book on investing, and he mentions in one chapter how Oracle went up 75,000% from 1990 to 2000. That same $10K would be worth $7.5 million.

smart words there paul.

But one problem with most of us lol...

We cant afford a house, But we can find these 500-2,000$ bonnies just fine


But yea i really need to start putting away $ for retirement... :(

I hear ya. In today'* world we are infatuated with always trying to have the best of everything possible, I'm guilty of it too. My aurora was perfectly good but I sold it anyway and bought a newer vehicle. Now, I am shelling out $294/month that I could of otherwise been saving, or I can look at it this way... I could of worked about 30 less hours a MONTH not to pay that bill. Life'* too short to spend all my time working and paying for things I don't really need... I'm starting to realize this at 22. I could work less hours and just keep what I have now, instead of working way too many hours to buy things I don't really need and waste my money. I guess it just takes a LOT of self-control not to give into impulses to buy things we don't really need. I haven't conquered it just yet.

On the other hand, if you had bought a house way back when, maybe you'd have burned to death in a house fire, caused when you spilled cola on the lamp wiring after realizing you'd just won the lottery!

Meh...I will keep my BMW thank you...lifes too short..

don't know what to say. guilty as charged.

It'* good to save a lot of money.

That way you can retire and enjoy it for a few years when you are less agile than you are today.

After a few years, you can sign it all over to the state when you end up in a nursing home.

That said, I'm in the top 20% of people my age for retirement savings

I was in my early 20'* when I first started saving for retirement.

That was 30 years ago when the goal was to retire with a few hundred thou and houses were only worth as much as a new car costs today.

That was back when I thought anyone over 45 was a fossil.

That was back when most people retired at 65 and only lived for a few years after that.

Now people are retiring .....or forced into retirement earlier at 55.....and are living longer to 85+
Now people are fitter and much more agile at retirement.

So now retirees are needing to have investments that will carry them for 30+ years.

It'* all a crap shoot.

You could die at any time............but then you could live to 100 also.

Nothing worse than not being able to afford diapers....or a motorized wheelchair.

I drive what I drive for a reason