Most rich people drove clunkers before actually being rich
As I left a retail outlet where I purchased some needed supplies, I followed a man that walked up to my truck and seemed to examine his own truck parked next to it. I had pulled in from an angle and was only a couple feet from his truck. I asked him “Did I park too close?” He answered that he was looking for damage to his truck as my closeness made him nervous. He explained that he had paid $90 thousand dollars for his truck. I said “That’s nice. Transportation is not worth that much to me.” He looked at my 20 year old truck and couldn’t believe my satisfaction as I got in it. I could buy another truck like mine for what he pays every couple months in payments, interest, and insurance. What other investment besides a new vehicle is guaranteed to lose $500 to $2000 a month until it is worth nothing? A new automobile is the worst investment on the face of the earth. One has to be a special kind of stupid to buy one on credit.
I recently heard an ad on the radio about how Strong Volkswagen of Salt Lake City is offering new VWs at 30% off. Duh. The dealer profit margin is 40% so the dealer is still making 10% profit. So when you buy a car with a $20,000 sticker price, the dealer only paid $12k for it and put 8 grand in his pocket from the sale. No wonder all new car dealers are multi-millionaires with fabulous buildings.
Save $50 grand in 5 minutes
My neighbor, Larry White, went into L&L Motors in Roosevelt, Utah and paid $40,000 cash for a brand new Ford 4 door, one ton, dually, fully loaded, that had a sticker price of $90 thousand dollars. Larry is a multi millionaire his self and not stupid enough to pay sticker price, but he wanted a brand new truck. He told the dealer “Take the cash or shove the truck up your ass” and drove away in the truck. He saved $50 thousand dollars instantly and up to that much again on interest. Only stupid people buy a new car on credit.
This is one of the reasons that stupid people don’t get rich. They buy things they can’t afford. Larry had the money in the bank. He could have paid in $100 bills. But wrote a check instead. He could afford the new truck. Let the stupid people pay the 50 grand he saved plus interest.
See, democrats and other retarded people could invest $500 to $1000 a month into a fabulous retirement account or an off shore island that increases in value at a rate higher than inflation, but instead, they want to look like something they are not, which is a form of lying, and so they foolishly spend the money on a new truck or car. Their investment loses money every single day and then they do it again. No matter how hard conservatives try, they simply can’t fix stupid.
Smart people buy things that increase in value
There are a million things a person can invest in that increase in value over time. Real estate is a fine example. So why do people continually buy new automobiles that are guaranteed to lose value every single day? Because they are stupid. One could buy a new vehicle that has been used for 16 minutes and has a blue book value of half the original price and still get to his/her destination in style.
So when idiots buy a new car, they pay full price and lost thousands in less than a minute, then they finance and lose an additional thousands of dollars, then they pay payments out of their future income which they do not even have yet. The new car payments could have made them a millionaire many times over if invested wisely. But they prefer having a flashy new car out front that tells the world they are broke and that they have traded their future income for a bad investment today.
If you are looking for my number one recommendation for creating wealth, please take my FREE Tour and see if this business is for you.