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Your car is wrecking your retirement?

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  • Your car is wrecking your retirement?

    The big-brained, Prius-driving know-it-alls attack . . . .

    If you are having trouble saving for your golden years, take a look at the wealth destroyer parked in your driveway.


    BTW, "Wealth Destroyer" would be a bitchin name for a drag car

    The average household shelled out $8,293, or 13% of its $63,985 pretax income, on transportation costs in 2011, according to the Bureau of Labor Statistics. That average includes purchase costs and car payments of $2,669; gas and oil charges of $2,655; and $2,454 for other expenses including insurance, maintenance, repairs and registration. (The average household also spent $516 on public transportation.)
    And that's without the Power Tour, Drag Week or any of the other really money-sucking automotive pastimes of the "average" Bangshifter . . . .


    Let's say that instead of spending it on vehicle expenses, you invested $8,000 every year over the course of 40 years. You’d wind up with $1.2 million, assuming a 6% average annual return. If your returns averaged 8%, you’d have more than $2 million.
    Yeah r-i-g-h-t . . . try to find a consistent six percent annual return in today's economy . . . .
    Last edited by 38P; January 7, 2013, 08:18 AM.

  • #2
    Wait til they have to dispose of all those bad Prius batteries in the next few years.

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    • #3

      Dollars in flames (Alice Cooper's "Billion Dollar Babies" Lincoln Zephyr

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      • #4
        My fleet eats nowhere near those amounts. Sounds like people are allowing themselves to get suckered into rides they can't afford - not the car's fault.

        Also some bad stats in that article. Comparing the % of a $15K income to the % of a $70K income - well, DUH!

        Dan

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        • #5
          The government is doing a better job at wrecking mine. Takes out a chunk of cash and tells me I'm going to get it back some day. At 32 years old I'm highly skeptical of that claim. At least the money I sink into the cars now I can enjoy now and in the foreseeable future.

          And I'm with you on that 6%. If some one has that, they better stick with it!
          Escaped on a technicality.

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          • #6
            My guess is that a lot of Bangshifters shell out a lot more than thirteen percent of their annual incomes on automotive pursuits . . . .

            Larry Larson . . . average American.

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            • #7
              whoa, talk about a discussion that's not really about the article. She's right, at 27 years old, you should be saving money, not spending 638/m on a Prius.

              I also have a problem with equating big brain with Prius owners - they're seriously dumb as rocks - spending extra money on a car that doesn't get much better mileage than any of the economy cars is really dumb.....

              Of course, the hotrodder that doesn't have an appliance to DD is doing the same thing...
              Doing it all wrong since 1966

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              • #8
                If I stop buying gas how am I going to get to work! They can pick on car payments, but gas and oil! They got a majic carpet up their butt?

                I miss driving a rwd v8 car every day but the 35 mpg is nice... trade offs...
                Last edited by Russell; January 7, 2013, 08:51 AM.
                http://www.bangshift.com/forum/forum...-consolidation
                1.54, 7.31 @ 94.14, 11.43 @ 118.95

                PB 60' 1.49
                ​​​​​​

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                • #9
                  Originally posted by SuperBuickGuy View Post
                  I also have a problem with equating big brain with Prius owners - they're seriously dumb as rocks -
                  The original (and thankfully former) "Mrs. Outsider" . . . make that "Ms. [Patriarchial Birth Name]-Outsider" . . . drives a Prius . . . and has informed me on many occasions on the massive size of her unbeleeeeeeeeeeevably brilliant "progressive feminist" brain.

                  Perhaps that's just anecdotal, but it tracks well with the sorts of pretentious criticisms my Hi-Jacked, "Mag-wheeled" "Street Freak" and I received back in the '70s from the VW-loving, bicycle-riding, Chess Club/Dungeons-n-Dragons types (READ: Sock-sniffing wimps)

                  Perhaps if I made it "bus-riding" instead of Prius driving in the OP . . . .

                  Of course, the hotrodder that doesn't have an appliance to DD is doing the same thing...
                  Life is too short to drive "an appliance." Bangshifters should be "showing the flag" to the car-haters at every juncture. Don't hide your light under a bushel.

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                  • #10
                    Originally posted by Russell View Post
                    If I stop buying gas how am I going to get to work! They can pick on car payments, but gas and oil! They got a majic carpet up their butt?
                    Yeah, it's called a tax-subsidized bus or subway train.

                    The chick who banged out this "Money" yarn undoubtedly lives in NYC or some other pretentious, overbuilt city where a car is challenging to own and mostly unsatisfying to use. For example, parking near the "Magnificent Mile" in Chicago is over $40/day. Cheap.

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                    • #11
                      Originally posted by tardis454 View Post
                      Wait til they have to dispose of all those bad Prius batteries in the next few years.
                      That shit is already happening, my sister had one, battery died, car went to junkyard, battery was more than the car was worth........

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                      • #12
                        the average household also spent $516 that year on public transportation. unless they mean to inlcude flying, i call bunk on that.

                        except for flying, my family hasnt spent 500 bucks on public transport in the 23 yrs we have been a family.
                        Charles

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                        • #13
                          Originally posted by TheSilverBuick View Post
                          At least the money I sink into the cars now I can enjoy now and in the foreseeable future.
                          Unlike the money sunk into liquor, gambling . . . .

                          BTW, I'd be willing to bet (borrow from retirement) a fiver that the frugal young "journalist" who wrote that "wealth destroyer parked in your driveway" tripe has at least one Coach or other insanely expensive "designer" handbag and a closet full of impractical shoes inspired by Jimmy Choo and Manolo Blahnik.
                          Last edited by 38P; January 7, 2013, 09:18 AM.

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                          • #14
                            Originally posted by TC View Post
                            That shit is already happening, my sister had one, battery died, car went to junkyard, battery was more than the car was worth........
                            You mean you didn't build an insane gasser out of it? (A wicked Prius gasser would most certainly gig the sensibilities of the Prius PIOUS)

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                            • #15
                              hey now, those fine people at Coach have helped me smooth over automotive ventures in the past... just sayin!
                              Charles

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