the opportunity costs of car ownership are *massive*
if you invested the ~$1k/mo average cost of car ownership - over 20 years, you'll have $460k at 6% interest, v. wasting $240k on car ownership.
that's a swing of $700k folks.
e-bikes are an *incredible* investment.
if you invested the ~$1k/mo average cost of car ownership - over 20 years, you'll have $460k at 6% interest, v. wasting $240k on car ownership.
that's a swing of $700k folks.
e-bikes are an *incredible* investment.
Comments
I lived on a car to save money.
When you can not earn more, you spend less.
Not driving in a city with questionable-at-best public transit certainly had its own costs too, but it mostly worked out in the end.
Option one is putting in $1K/mo over 20 years, and having $460K at the end.
Option two is putting in $1K/mo for 20 years, and having nothing at the end. That’s bad, but also not negative $240K.
It is disingenuous and weakens their own argument, but unfortunately fools too many people.
To get the $700K “swing” you pretend that every month $1K is invested and also, separately, stuffed into a mattress so that there’s $240K to add at the end.
6% is incredibly conservative & really understates the extent of the opportunity cost of car ownership.
#WindshieldBias
#CarBlindness
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