USA | IN555 - 2/7/2021 08:28
A post tax total cost(interesting) but using a pre tax wage?
And at the end of that 10 years are you finally going to enjoy that money or you still can't because of future potential ROI? Coup do you ever do anything fun or is trimming the fat your fun?
If money was invested in zero tax account would = full amount @ end of ten years If paid 30% tax on the $100 grand would still be ahead about $170,000 @ the end of ten years vs borrowing for camper . Instant gratification is a big problem in this country, that keeps a lot of folks in bondage.
Nothing wrong with buying something to have fun with if can afford it.
Am pretty simple person with what it costs in after tax $ to entertain me.
When it comes to fun costs my policy is. If it depreciates or is pretty much worthless after it is bought and I don't have the $ to write a check for it , am not going to use borrowed $ to make the purchase.
If folks would set down and calculate the true cost of what the total cost is to purchase something in after tax $ when interest and taxes are put in the equation. It would hopefully cause them to understand how foolish their decisions are.
If a person has the ability to write a check for camper, good for them. If they don't would be best to wait until they get in a position to write the check. Same with cars or pickups.
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Insanity of 10 year consumer credit loans Vs Investing those $
