Common Investment Mistakes
Lesson 5 from: FAST CLASS: How to Retire Early: The Latte FactorDavid Bach
Common Investment Mistakes
Lesson 5 from: FAST CLASS: How to Retire Early: The Latte FactorDavid Bach
Lessons
Financial Education - Know Better To Do Better
15:12 2Start Early, Start Today
07:02 3The Latte Factor: How It Works
16:31 4FITE - Financial Independence to Transition Early
04:39 5Common Investment Mistakes
01:29 6Becoming Rich on an Ordinary Income
04:04 7How Much do You Need to Retire
01:47 8Retirement Plans & Where to Start
05:23Lesson Info
Common Investment Mistakes
How you, how you start to know we're coming to the end of an economic boom is you got seven million Americans behind on car payments, Got $1.5 trillion dollars in student loans. This is when you start to know that something, yes, rich are getting richer, but there's something underneath the surface. It's not right. Here is the thing, that's the average car payment in America on a new car, $530. What if you didn't have that car? What if you were not a two car american family or a three car american family for two people? Which happens all the time? What if you took that money at 7% In 25 years? You have almost a half a million dollars. Some of us talk about that. I drove a car for 10 years lisa carr behind at Bally's Drive for 10 years. Um, if you're gonna buy a car, don't buy it new, buy it off of a lease, it's two years old or three years old. I'm going to turn back, I leased cars because there's also, if you're, if you have your own business, there's benefits to leasing. You take a l...
ook at the car. I'm going to return before I leave for Florence. I'm gonna return this car to the dealership. It's got 6000 miles on it basically. Brand new. Someone can buy that car down for half of the retail price, but it's brand new. That's how you buy a car and ideally you don't borrow to buy a car. You take this money and you save it