LuckyLuke wrote:You should use your money and invest in stocks. Since all the stocks are dirt cheap right now. You could double your money in 2 years.. or more!
+1
It is difficult to try an convince 18 year olds to begin putting $$$ away.
I'll use my first car as an example.
http://www.hubcapcafe.com/ocs/pages01/ford5803.htm
I bought it used in 1960 for $1500.00 I guess it sold new in 58 for around $1800 to $2000.00 That POS was the worst vehice I ever owned and I should have listened to my father who advised me not to buy it.
But I said or whined
DAD IT HAS A 352 CU INCH ENGINE
and wouldn't listen
That was my first and last Ford
Make no mistake. Smart investments made today will grow in value and even 5 years from today those that invested will be smiling.The overall stock market is a predictor of the future and will rise along with inflation, cars, housing commodities, etc
In short, new cars that cost $2000.00 in 1958 now cost $40,000.00
Anyone want to predict the cost of a new vehicle in 2034?
For those that will be in their mid forties by then you may want to start saving soon.
Telcoman