Recently came across an article called Dave Ramsey says these monthly expenses are destroying your retirement.

So of course I read it.

So we're going to go through it together and I'll give you my thoughts around it.

But before that, be sure to like, like subscribe and share this episode with a friend

all right expense number one is the car payment so we talk about this a lot on this channel

but remember the current car payment for a used car is over five hundred dollars for a new car

that's seven hundred dollars all right just to put it into perspective let's use ramses investment

calculator to see how much our car payments are costing us.

Here are the numbers.

You ready for this?

If you just said, let's just put $650 a month, a month, instead of paying for a car payment,

you paid yourself and invested that over the next 25 years.

At an 11% rate of return, you would have $1,024,000.

Over a million bucks for the car.

That's wild to me.

That is wild.

So is that costing you your retirement?

Possibly for people that are getting close to that age and they don't have any money

saved.

Yeah.

If you had a car payment your whole life, like that literally costs you millions of dollars in retirement.

And so, again, this is one thing that I'm always like, buy a car you can afford.

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