A guy who made six figures in his twenties spent four grand a month on cars instead of investing. He bought a Chevy Tahoe with 24" rims and a BMW 5 Series. He wishes he'd invested that money instead.
"Maybe three or four hundred grand a year."
"Like four grand a month in car payments."
A brand-new Chevy Tahoe with 24-inch rims and a BMW 5 Series.
What's the most amount of money I've blown in one weekend? Oh, man. You know, when I was in my early twenties, when I started making money, maybe three or four hundred grand a year, I went out and bought like this brand new, like TAHOE, got like 24 inch rims on it. And I bought another car. I think that like I bought like a BMW 5 Series, you know, and then all of a sudden I've got like four grand a month in car payments. But it was just stupid. Could have got something that was used maybe two or three years old with half the payments and then stuck that other money into real estate or other investments. And so you can make all the money in the world, but you can also spend all that money and you're just as broke. Invest that money and as you get older, maybe you get that really, really nice car after you've got money coming in from your investments. But don't do that in your 20s. I think it's the dumbest thing in the world.
