We have a question from Stephanie next. She says, you always mentioned the 23-8 rule for buying a car, but then also mention that cash is always the best option.

Can you explain how much would be too much cash for a car? Should it be a percentage of our total income? Are there any

guardrails to that? Well, it's really one of those things. Cars, and what's funny is we had somebody come in

and tour the studio before we even hit record today.

And we had a whole conversation on Tesla's.

And I said the statement, and I say it all the time on the show is that too many Americans are

driving around in their wealth.

And that's the big risk that you have.

I think it's more of a financial order of operations question

is that 23-8 is supposed to be your lifelile.

I mean, somebody is throwing you a life preserver out in the water that you need good

reliable transportation to get to your first wealth building tool which is a job and it's supposed to be a very

affordable car. I'm thinking we need to be thinking Corolla not the land

cruiser as I've said a gazillion times is because this is reliable transportation, not something to impress your neighbors,

your friends, and your relatives.

So if you get to the point that you're in step eight, meaning you funded all of your financial goals you've got

the cash reserves all set up you've been saving and investing 25% for a number of

years your path you even know your number you know if you're ahead of the curve behind the curve

or right where you need to be and you're clearly way ahead of the curve and you

get to step 8 and you say hey I'd like to have a nicer car I'm not going to

judge you for that because you did everything else you're supposed to and you didn't

You know short change your financial and your future self and that's that's the big thing that I think people skip is that when I see a

...