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<blockquote data-quote="kingOFchester" data-source="post: 1003194" data-attributes="member: 11246"><p>YES, contribute until it hurts. </p><p></p><p>It amazes me to see all the new cars on the road. I have seen many people in foreclosure, but yet they have several $30,000 cars sitting in the driveway. Even if you don't go in foreclosure, does having 60k in cash tied up in vehicles make any kind of sense? </p><p></p><p>Lets say you have 2 cars on payment that cost 60k total. At 5% that would come to about 68k in 5 years.</p><p></p><p>Lets say you didn't buy the car pits, and invested the money in a fund that gives you a 4% return. In 20 years that 68k would turn into 150k.</p><p></p><p>So the choice is in 20 years have 2 cars worth close to nothing, or 150k?????</p></blockquote><p></p>
[QUOTE="kingOFchester, post: 1003194, member: 11246"] YES, contribute until it hurts. It amazes me to see all the new cars on the road. I have seen many people in foreclosure, but yet they have several $30,000 cars sitting in the driveway. Even if you don't go in foreclosure, does having 60k in cash tied up in vehicles make any kind of sense? Lets say you have 2 cars on payment that cost 60k total. At 5% that would come to about 68k in 5 years. Lets say you didn't buy the car pits, and invested the money in a fund that gives you a 4% return. In 20 years that 68k would turn into 150k. So the choice is in 20 years have 2 cars worth close to nothing, or 150k????? [/QUOTE]
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