The actual freedom of an old car

[LAB3]

Personally I haven't had a car since I sold my 1995 Olds in 2015, in my case good quality hiking boots and old motorcycles have taken it's place.

There's some timeless wisdom presented in this video, I'm quite sure there'll be plenty of people who will scoff at the idea.

https://youtu.be/V5tYK1mruHg?si=Uc8etYUc5uxAmx82

 

[trevor]

I drive a 1997 GMC pick up....have not had a car payment in 30 years.
I would never spend the money on a new car or truck....don't like all the gadgets and shlt to go wrong with said gadgets.
My truck is a 5 speed manual and roll up windows...it has air conditioning though.
I spend that savings on retirement, travel and motorcycles. Love my old truck

 

[Vmass]

“ Buying Right “ should be entrenched in the minds of students before they leave high school.

Debt ruins lives…….

 

[Dogma]

“ Buying Right “ should be entrenched in the minds of students before they leave high school.

Debt ruins lives…….

I'll go one further: having a financial plan should be entrenched in the minds of students... Scratch that. Parents should be teaching kids to have a financial plan. Asking the government education system to do it is just another way to give away control, and keeping control is one of the big points here. I haven't had a car loan in a couple decades. I love it. The mortgage only has a few years left. Can't wait.

 

[LAB3]

Scratch that. Parents should be teaching kids to have a financial plan.

Leading by example works best!

 

[salty_monk]

I have to wonder how a lot of parents could pass on knowledge that they don't have? Much more likely to pass on their own bad habits.....

Perhaps there is something about old bikes but this type of thinking is not the norm.

I'm another believer in no credit apart from Mortgages (and I use revolving credit for convenience).

 

[Nessism]

The video is about being fiscally conservative, with car spending as an example. The title is clickbait; freedom doesn't come from old cars.

 

[MikeLyon]

Might be oddball question, but since we're talking old vehicles and freedom

I can not for the life of me get my rear view mirror to stay fixed to the inside of the windshield.


I've bought the proper stuff from the auto parts store, which I used successfully on a vehicle I bought years ago that didn't even have a rear view mirror , it was supposed too.

I've bought new button even, but if the temperature gets hot or extremely cold I'll come out from the house or work and it will be dangling from wires that plug in that go to onstar.

Last summer in 90 degree sunny day it popped off while I was driving, longest I've got it to stay on was two months.

Im prepping the surface and doing everything like I'm supposed to, truck is black with black interior?

But other people park their vehicles in the same place I do with no problem

Help give me some freedom from this crazy problem, tomorrow I'll call windshield replacement and ask ?

 

[Rob S.]

Help give me some freedom from this crazy problem.

Get a '68 Camaro.

 

[LAB3]

The video is about being fiscally conservative, with car spending as an example. The title is clickbait; freedom doesn't come from old cars.

Sounds to me you're more interested in playing word games than promoting personal responsibility for your own financial conditions. Can't say I know that for a fact but then again I'm not the kind of guy that can easily justify spending $15 for a can of cable lube.

 

[MikeLyon]

Get a '68 Camaro.

Does it have to be a 68 ?

 

[Nessism]

Sounds to me you're more interested in playing word games than promoting personal responsibility for your own financial conditions. Can't say I know that for a fact but then again I'm not the kind of guy that can easily justify spending $15 for a can of cable lube.

I'm not playing word games, the guy in the video is.

As for me, since you questioned my "personal responsibility", my house and car are paid off, and I have more money in my savings and 401k then I'll likely be able to spend in my lifetime.

How about you?

 

[Nessism]

I'll go one further: having a financial plan should be entrenched in the minds of students... Scratch that. Parents should be teaching kids to have a financial plan. Asking the government education system to do it is just another way to give away control, and keeping control is one of the big points here. I haven't had a car loan in a couple decades. I love it. The mortgage only has a few years left. Can't wait.

I paid off my mortgage early. Should have done it way sooner, but loved the idea of sitting on a bunch of money, available at my whim. Finally got smart, and threw money at the mortgage. What I didn't realize is that interest was $600/month, even though the loan was almost paid off. I wasted at least a years worth of those stupid payments for no good reason.

 

[salty_monk]

Paying off a mortgage early is all about interest rates & tax breaks vs the stock market but it's a great "sure thing" ROI.

If you're close to the standard deduction sometimes it can be better to get rid of it but in theory any interest rate under 7% you're better off keeping the money in the S&P500.

For some people the peace of mind would be worth more than the potential couple of percent.

The main thing most people need to learn is that small amounts of money add up quickly.... and then stop buying Starbucks full of sugar & chemicals every day.

I like this guy if anyone wants something to read: https://www.mrmoneymustache.com/

 

[trevor]

Great thread guys....thanks for sharing. I don't have any debt except for our mortgage....I started late in life....I'm 59 and my wife is 48...we both make decent money and we both have excellent benefits. I can work for some years yet as I can take as much time off as I want and still be paid...I can also work from anywhere so not in a rush to retire just yet.

 

[LAB3]

At 33 I had my off grid home sitting on 20 ac bought and paid for, this allowed me to "F" around the rest of my life work wise. Both my kids attended a rather prestigious private arts academy where the yearly tuition far exceeded what tuition at a public university costs.

Finally decided to take the extra strength Fukitol at 53 and have done part time work as needed since to support my lifestyle. Yes, there's plenty enough in the bank to buy a home and pay for it with the income from only a social security check.

If how much you have in the bank is a measure of your self worth then that worth isn't much in my eyes, you either have lived the life of a slave or have been the one driving the slaves. Either way, money can't buy you time in life and I've got plenty to spare.

 

[tlg1100]

Wife and I have decent jobs nothing grand, moved to a small near by little town. Bought a house for 55,000 that in our previous city would've cost four times that much, bought camper, boat, bunch of other toys, was just working to have all this stuff

After seven years of this B.S , We sold everything, started saving , don't owe anything just paying for utilities, taxes and insurance.

I would've retired six years ago ,not wanting to risk not having health insurance, I don't want to pay for that, job provides for it it now.

Can't wait until I can retire and be the bum I was always meant to be.

 

[trevor]

Wife and I have decent jobs nothing grand, moved to a small near by little town. Bought a house for 55,000 that in our previous city would've cost four times that much, bought camper, boat, bunch of other toys, was just working to have all this stuff

After seven years of this B.S , We sold everything, started saving , don't owe anything just paying for utilities, taxes and insurance.

I would've retired six years ago ,not wanting to risk not having health insurance, I don't want to pay for that, job provides for it it now.

Can't wait until I can retire and be the bum I was always meant to be.

I’m glad health insurance is not something I need to worry about budgeting for.

 

[Vmass]

Agreed, I play with cars..... I went on a Galaxie kick a few years ago. On the right is my '65 base model, a kind member here actually went and took it for a spin for me in Ohio and then I had it shipped to me. The one on the left is a 66 XL convertible that I bought from an elderly couple in TN and my favorite ( in next post ) is my 66 XL hardtop in emberglo. All three are 352's. I had another 66 convertible base model with a 289. And I am looking for a 66 7 Litre......remember......" Buy Right "!

 

[Vmass]

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I bought this one in Was​hington.

Edit: Not sure what happened here, first post loaded correctly and this one after many attempts did this....it's been a while.