re: Let's talk retirement money. Or lack thereof.

Buying new cars keep many people broke.
That said, my mindset is shifting as NW has increased. Once you have a high enough NW, new/newish vehicles with full suite of safety features mitigates risk. For instance, I used to think teens should drove beaters so.as.not to.get accustomed to nice cars early and fall into the typical pattern.of.buying too.much car too often. But now, I'm strongly leaning to buy my teen driver a car with better safety features for their sake, other drivers and my own liability. If blind spot detection prevents one crash it could easily be worth the extra $ spent. Hopefully kids dont get spoiled though and start upgrading right after college.
I'm also looking at upgrading my own vehicle for better safety. An accident is one thing that could ruin my life at this point physically, mentally, or financially. If I can mitigate that risk by spending $40-60k it's well worth it now that I have enough $ already working for me and.no longer in accumulation phase.

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Dave Ramsey is right; car payments are what keep people middle class forever.

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I was wondering if anyone was going to give Dave any credit. For this "bottom feeder" issue, he's spot on. For some other stuff, we can debate -- but this is the reason why Dave helps so many people. Because so many people don't have a clue.

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But now, I'm strongly leaning to buy my teen driver a car with better safety features for their sake, other drivers and my own liability. If blind spot detection prevents one crash it could easily be worth the extra $ spent

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I agree with you, but blindspot detection has been available for 17 years (2009.) This still allows for a used car of a decent age. Our brains want to spend more money "for safety."

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Can someone explain to me why a person making around $60,000 a year would buy an $80,000 truck with very little or nothing in retirement savings? Now we are not talking about a 22 year old. I would have to say the average buyer for this truck starts around 35 years old. Again, insanity.

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It doesn’t make sense. I make a lot more than 60,000 a year and I’m perfectly content with my 10 year old SUV with 100,000+ miles.

I’d much rather put my money in appreciating assets (Housing/stock market/high yield savings account) than blow it on some car that’ll be worth half the price in 4 years.

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I just crunched some numbers, the monthly payment on $68000 at 0% interest and no TT&L is around $950 for 6 years. If you invested that money instead in decent funds, you're looking at around a million dollars in 30 years. Dave Ramsey is right; car payments are what keep people middle class forever.

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I’ve wasted a lot of money on cars and trucks but I enjoy driving a nice dependable vehicle. I couldn’t imagine saving everything I make. I like living in a big nice house and driving nice cars. 9k a month goes to car notes and my house every month.

I could have paid cash for a 600k home and had no car payments but what’s the point. Feel like I need to live a little. I enjoy my job and don’t mind if I have to work a little longer.