Does It Ever Make Sense to Lease a Car?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 13 December 2023

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

When you're planning on getting a new car, should you always buy, or does it ever make sense to lease a vehicle? We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	All right.
0:07.1	All right.
0:08.3	Question from Jim is up next for you.
0:11.6	He says,
0:12.2	or Jim Jim Jim Jim Jim Jim Jim.
0:15.0	He says can you please talk about long-term disability insurance.
0:24.3	Do I really need this?
0:25.8	And how much of my current income
0:27.7	should it aim to replace?
0:29.4	100%, 60%, he's not sure. And he he says thanks for answering his question.
0:35.0	So the question is what is long-term disability insurance?
0:39.0	Well, it is an insurance policy that pays you money if you are disabled for a long period of time.
0:47.0	Pretty self-explanatory there.
0:49.0	And so the question is, well do I need it?
0:51.0	Well you have to answer the question, if I were become disabled and I no
0:54.7	longer had income coming in I could not show it to my job to do the thing that I do to have
0:59.1	money coming in how bad of a situation would that be?
1:04.0	Would my mortgage company still want their mortgage?
1:06.8	Would the grocery store still want money for groceries?
1:09.9	Would my kids and my family and the people that depend on me still need that income coming in for their well-being?
1:16.0	If the answer to all those questions is yes, then I would argue you have an insurable need for disability insurance.
1:23.0	As professional financial advisors,
	...

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