The big-brained, Prius-driving know-it-alls attack . . . .
BTW, "Wealth Destroyer" would be a bitchin name for a drag car
And that's without the Power Tour, Drag Week or any of the other really money-sucking automotive pastimes of the "average" Bangshifter . . . .
Yeah r-i-g-h-t . . . try to find a consistent six percent annual return in today's economy . . . .
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.)
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.
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