That’s why I said Gen Xers…they will be hitting 65-75 in that period and that’s about where things start to go south…for some people.
Thank god. At least they are finally leaving the workforce.
I am so sick of hearing “Back in my day…” when back in their day was segregation.
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Back in my day, a lease was $100…
Hehe
Back in my day only suckers lease. Wait they still say that 
I get in that boomer argument and clearly with their kids too once a week in my Facebook groups
They also say if you can’t pay cash don’t buy it. Which I somewhat agree with at times (especially with high rates), but most don’t have a spare $70k laying around, but they do have decent income.
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People still say that.
To be honest you should be able to pay for your depreciating asset in cash. A lease is a tool to help free up your cash.
If you don’t have the cash don’t buy it is a great way to keep yourself in a good position.
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Agreed, but the world has always existed just fine on credit, from antiquity until today.
This country was founded on credit and the assumption of debt and obligation. Without that core premise, the US could not have assumed the colonies/states’ debt for the Revolutionary War, there would not have been a functioning United States for very long and you would be likely speaking primarily French or Spanish, or at least with a bit of a British accent.
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I agree with all of this, but it’s also a very conflicting topic. I usually end up arguing against myself. 
I almost always have to side on the cash flow side of things. I think there are many cases where it makes perfect sense to not satisfy your debts, keep the cash in your pocket, and invest it elsewhere. For example, our mortgage is in the low 2’s% (Id have to look it up). I could pay it off tomorrow but that seems foolish. A couch potato (hopefully not degrading to our local resident 
@jeisensc 
) could get a 5.5% return on a HYSA, even after taxes you’re still ahead. Once that mortgage debt is satisfied, you’re no longer liquid
and the money is obviously gone permanently (of course unless you sell the property).
For highly depreciating assets, especially for toys, I’ve always heard the the golden rule is “if you cannot place that pile of cash on the table and watch it burn, you shouldn’t be making the purchase”. Another is “if you can’t buy it twice, then you can’t afford it”.
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But how are you going to keep up with the Joneses following rules like that?
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Not to mention the additional spiff on the mortgage interest deduction, assuming you itemize and have other deductions to get you beyond the SALT cap and standard deduction.
Really deep pockets 
The American Dream runs on excess which is fueled by credit.
This is one reason I loathe the Dave Ramsey cult. He always tells people to pay off their mortgages. Sure for financially irresponsible maybe that’s a good thing, but for most it’s def not.
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Time value of money – Why pay cash – use credit as leverage – cash is for suckers
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Cash is to flex on the ladies
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Agreed. I think Ramsey is great to an extent, but I do believe much of his (extreme) advice is intended for the average Jack & Jill who know next to nothing with finances.
His theory on the income/vehicle ratio is another one that is wayyyyy off for most people. I don’t recall the calculation but you would have to be a multimillionaire to basically drive anything relatively new/decent.
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Leasing is the most expensive way to own a car he says. Also all your vehicles total value shouldn’t be more than half your income. He also says the car you should have should be able to paid in cash.
He over leveraged himself in real estate and went bankrupt before developing his patented system to get poor people out of debt, which is just the snowball method, not a novel idea at all.
I do like listening to clips from his show occasionally to see how truly fucked some peoples finances are. Lately it’s just been people complaining about $2000/mo student loan payments on 100k or less incomes.
All these financial guru/charlatans made way more doing infomercials/social media then they ever made in real businesses. But can’t knock them they are good at selling useless products and “systems” to desperate people.
My favorite are the real estate gurus that just over-leveraged and got lucky that Covid came when it did. They all think they did genius maneuvers
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This is just a restart of the political discussion that got shut down, including the wacky conspiracy theories.
Then don’t read it. And not one “conspiracy theory” has been discussed here. As well as no politics unless you consider interest rates politics.
Some people here like to discuss finance, stocks etc and it all ties into car leasing. Better to have a thread to discuss this stuff then have it scattered in other topics on the forum. If anything inappropriate is said I’m sure it’ll be moderated
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