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Message
People go into $50k of debt to buy a F-150 instead of investing in a low-cost Vanguard ETF
Posted on 5/3/22 at 9:26 pm
Posted on 5/3/22 at 9:26 pm
Why?
17
Posted on 5/3/22 at 9:30 pm to rickgrimes
Cause I would rather buy Bitcoin, old man.
Posted on 5/3/22 at 9:31 pm to rickgrimes
Tell me you haven't looked at new truck prices recently without telling me you haven't looked at new truck prices recently.
New trucks are selling for a lot over $50K baw.
New trucks are selling for a lot over $50K baw.
Posted on 5/3/22 at 9:46 pm to rickgrimes
a very small percentage of people know about vanguard etf or any etf
Posted on 5/3/22 at 9:48 pm to rickgrimes
Can't hang truck nuts from a ETF baw
Posted on 5/3/22 at 9:57 pm to MrSpock
quote:
Can't hang truck nuts from a ETF baw
this made me laugh too hard for some reason.Posted on 5/3/22 at 9:57 pm to rickgrimes
I mean I get what you’re saying but I can’t ride my ETF to work and it can’t tow my boat.
Posted on 5/3/22 at 10:11 pm to rickgrimes
quote:
Why?
Some people want to enjoy life now. I don’t particularly care for an F-150, or any extravagant vehicle (mine has 165k miles and I have not even thought about thinking about getting a new one), but the exact same argument can be made for almost any non-essential purchase. Could I retire a few years earlier if I never spent money on any hobby like golf, fishing or hunting? What about if I don’t eat steaks instead of hamburgers, eat hamburgers instead of ham sandwiches, or take vacations instead of just enjoying the weekends at home for downtime? Of course I could, but I’d rather enjoy those things now when I am younger. Many people feel the same about nice vehicles.
This post was edited on 5/3/22 at 10:15 pm
Posted on 5/3/22 at 10:15 pm to rickgrimes
Actually the truck has probably lost less value than VGT over the last few months.
Posted on 5/3/22 at 10:25 pm to rickgrimes
quote:
Why?
Because they want one?
I just bought a new F250 in the 80’s.
This post was edited on 5/3/22 at 10:31 pm
Posted on 5/3/22 at 10:29 pm to rickgrimes
A real asset versus an illiquid piece of paper. It’s not a dumb as you think.
Posted on 5/3/22 at 10:38 pm to rickgrimes
Whats the point of money if you don't spend it? People work too hard to live frugal
Posted on 5/4/22 at 12:41 am to rickgrimes
It’s really just about finding balance between enjoying the present and being able to take care of yourself when your working years are over.
The reality is most people focus on the present as the primary and give little thought to the importance of saving. Money board folks are a rare breed…
The reality is most people focus on the present as the primary and give little thought to the importance of saving. Money board folks are a rare breed…
Posted on 5/4/22 at 5:12 am to MrSpock
quote:
Can't hang truck nuts from a ETF baw
Posted on 5/4/22 at 5:29 am to rickgrimes
I have multiple tenants whom all drive newer nicer vehicles than I do. My wife and I own several homes and apartments most of my tenants will probably never own a home. Can we afford a new vehicle? Yeah I can go and pay cash ,butvwhy when my old one works fine? Many people have their priorities wrong. They spend when they should save and invest and they buy new things that they shouldn't.
Posted on 5/4/22 at 5:36 am to stelly1025
The way my portfolio has tanked, give me the truck right now….
Posted on 5/4/22 at 6:29 am to rickgrimes
They think it’s a truck anyway.
quote:
Exchange-traded funds (ETFs) have been lauded as one of the most transformative innovations in modern asset management. As a vehicle, they’ve enabled investors to access diversified pools of securities with the single click of a button, at any point in the trading day.
Posted on 5/4/22 at 7:22 am to dstone12
I don’t think it is as simple as the OP makes it. People do need at least some form of transportation.
Posted on 5/4/22 at 7:50 am to rickgrimes
How are the two related? Like at all?
Posted on 5/4/22 at 8:25 am to BearsFan
quote:
I don’t think it is as simple as the OP makes it. People do need at least some form of transportation.
And these people also don't have the cash to buy a truck so they are financing it, which means they probably don't have the cash to buy vanguard ETFs, but not sure how they would finance that.
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