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Money and Finances
Reply to "How much should we save/invest every month?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Car payments are for the poors.[/quote] OP here. I disagree - my rate is a bit under 4%. I can do much better (and am doing much better) than that putting money in the stock market. In a sense, car payments are for "poors" if you take one on because you have to. But they sometimes make sense. [/quote] HUH?[/quote] Car costs $20,000. Instead of paying cash, I put down $6,000 and get a 5-year loan of $14,000 at 3%. I put $14,000 in various index funds and get a much higher return over 5 years than 3.5%. I have come out ahead than if I had tied up the entire $20,000 in the car up front. This is why I don't pay off my student loans on an acclerated basis (I owe $55,000 at 3%).[/quote]
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