Don't buy a new car she says. Bad investment!


#21

In order to keep the Bitcoin topic alone, here:

You are just so ignorant my mentor almost peed in his pants reading your poor excuse.

He said “this guy is so negative he doesn’t understand, after you told him several times that the % paid when loaning is not deducted from the returns but coming from the INCREASING DEATH BENEFIT that will pay such charges at the end of the policy exercising the living benefits or the death of the insured”. :laughing::laughing:

He asked me: “Did you explain him that when he loans $80K a year, he gets to keep those $80K in his policy earning 7%-16% in the policy”. I replied yes, but he is so dumb I can’t do anything else but laughing. :laughing:

He said “If he doesn’t get that he is playing with $160K. $80K earning 7%-16% and $80K in his hands he doesn’t know math then”.:scream:

He said “He can’t answer your question about how much he can get from $80K for himself because he is running out of excuses, or he is so dumb investing his own money. If he can’t get $4K a year to pay for the 5% interests on $80K even if they were charged to the returns, then we definitely are dealing with a teenager.” :smiley:

He asked: “Did he understand that even if he bought a $450K home today, cash, he can’t get $334K tax free income a year at age 70, year after year until age 120?” I replied: No. He didn’t!

He said: “Did you explain him that compound interests beat simple interests?” I said yes!

He replied: “Well, my friend, you are dealing with a so negative person. When he can’t answer a simple question on how much he can get from $80K, while he is getting at least 7% on the other $80K in his policy, well, he is disguising his ignorance on claiming to have 2 phds” :laughing:

The following tabulation was made on a hurry. There are some rider expenses that allow you to loan 80% of your premiums, etc, etc, etc. that may lower these expectations. But, come on now!


#22

Yes, blame it on being negative and not that I can see right though your scam. That’s exactly what Herbalife and all the pyramid schemes tell their lemmings. I bet your mentor gets a cut of all your sales. Congrats on joining a pyramid scheme.

The $80k is earning less than 6% per your illustration, and I have to pay 5% to get it back to play with. That means your paying me less than 1% return on the $80k. You can try to argue against that math, but you’re just going to look foolish.

The 5% loan interest is compounded. You’re paying interest on the interest of prior years. You don’t realize all the compounded of interest over the years reduces the death benefit by more than if it was simple interest.

This has gone from laughable to sad.


#23

Wow. I just realized you don’t know what compound interest is. You’re taking the 7% annual rate and applying it as a monthly interest rate. That’s embarrassing. Meanwhile, you keep the $333 of the loan flat. That interest compounds every year, since it’s not paid off. This is amazing.


#24

This is wrong. There comes a point where a car starts costing more per year than a new one would on average. My parents get to this point–when they’re putting $3K a year into a 20 year old car instead of buying a three year old used one, it’s a waste of money. There’s a sweet spot where you’re putting in maybe $1K/yr to fix the issues, but when it’s getting to $2-3K, gotta go.


#25

I do believe that you should not keep a car that has more than 150k mileage. If the car has lower mileage than that then it’s more cost effective to keep than buy another one.


#26

Learn something. Always sold my car when the mileage is over 50k miles or 8 years old.


#27

Who only drives a car 50k miles in 8 years?


#28

Me.


#29

Got 150k on my 2006 4 Runner will keep till 300k


#30

Do you need to spend 3k per year fixing it like what @Terri said?


#31

I think my husband is around that mileage. He drives to Caltrain and back.

I’m the one chauffering the kids.


#32

Haven’t spent a dime on that car…Best I’ve ever had…Know of several that have made 300k miles…I think my Highlander will do the same…People that buy electric cars to save gas forget that depreciation is by far the biggest expense…Gas is less than one quarter of the annual expense…A car that last 30 years only has a cost of 1000 or $2000 a year in depreciation …But most cars only last 10 years…


#33

Definitely some cars turn out to be better maintenance-wise. That’s great that you found a solid one.

The depreciation isn’t the biggest deal for electric cars–the batteries cost something like $10K to replace!


#34

per year? Are we all talking about the same thing? Same time duration?
By fixing, I thought you mean maintenance & repairs not depreciation.


#35

No–once every 7-10?? years. But still very expensive. I don’t think it costs that much to replace an engine.


#36

We need to help out @buyinghouse here. He can’t figure out compound vs. simple interest.

I think he’s gone into hiding. That happens when he gets embarrassed.


#37

Figure a Tesla will drop from $100k to $20k in ten years…$80k… $8k per year…My 4 runner at $3/gal and 20mpg will use $1500 In fuel per year…
Batteries at $10k is less than the gas…but still the $80k vs $30 loss in value is the huge issue…Figure 4runner costs $45 and worth $15k after 10 years


#38

C’mon. Don’t start a fight… You’re better than that.


#39

I was thinking Prius.

With Tesla, you’re buying image.


#40

I’m just pointing out the actual facts, since someone insists on trying to fraudulently sell us stuff.