ilmscore | Prediction Details
"if you did not have a car payment now and you took this $566 a month and now you are investing it and you can get a 7% return on your money over the long term so we're not talking about great returns just average returns over the long term and this does not mean that you have to get 7% every year just over longterm which is below the average stock market below the average real estate return over the next 45 years if you start this when you're 21 you will have over $2 million versus if you just kept buying cars you got a car which is worth whatever a car is worth right there's a lot of money to be made if you just invest this money and if you can get a better return on your money if you can get a 10% return on your money which is closer to the long-term average so now instead of having the this car payment you're going to invest this money into whatever you want instead of paying $566 a month for your car you're going to be investing this money well now you're going to have over $5 million actually close to $6 million if you can invest this money instead and get a 10% return on your money"
By Minority Mindset | October 29, 2023 | Pending
From video
These Are Your Biggest Financial Mistakes (Achieve Financial Freedom In 2024) | Jaspreet Singh 00:17:07 - 00:18:14
Interpreted Prediction
Instead of financing a car with an average payment of $566/month, investing that amount consistently over 45 years could yield over $2 million (at 7% return) or nearly $6 million (at 10% return).

Prediction Details

Topic
Car Financing vs. Investing

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