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The #1 Wealth Killer No One Talks About...

Humphrey Yang 3 views

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I have a fairly nice sports car and I don’t own it because of status I own it because I love driving it and don’t care if it is not financially smart
Comment from : @IOIScorpion

its actually taxes lol
Comment from : @luciancastillo1337

The sad reality is even people who can't afford vehicles just have to have them no matter what
Comment from : @yourteamaintshit

I think The reason people buy cars first is because it allows them to have a taste of success and it’s easily achievable vs purchasing assets like a paid off house, investments, etc The car provides immediate gratification, but often comes with depreciation and can ultimately be a wealth killer
Comment from : @candacepowell731

These are too many experiences Charles Munger says, "You do not need a car" 😅
Comment from : @alexanderrazuri967

I call comcast every year for about 14 years to always get the introductory rate
Comment from : @Reason_over_Dogma

I went and got what I thought was a good used car I can comfortably afford with wiggle room… the engine blew up on me Now I’m going to be upside down and have to get another car So I’ll have to pay for this car that died on me and I’ll have to get another car
Comment from : @PerryPerfectPerson

7:16 hopefully not
Comment from : @MrFatum495

At 185k miles, I decided to rebuild my '09 Tacoma's front end New Bilstein struts and rear shocks, CV boots and grease, lower control arms, inner/outer tie rods, sway bar links and bushings (all MOOG) all for about $2500 and I taught myself how to do it thanks to the power of forums and Youtube Here's to another 185,000 miles!
Comment from : @ExtremelyAverageMan

1000$ a month in a car wow 😮
Comment from : @LanegraSantiaguera

In Russia people are obsessed with cars, status is too important for them and I hate that and have never been able to understand people like that
Comment from : @tim_despair

Learning how to cook and how to work on your car and stop drinking and smoking are great money savers
Comment from : @xhearthfirex6571

Oil change every 3000mi?? Are you seriously dude??
Comment from : @mavrx5859

The video’s logic makes sense, but you can’t take money to the grave Think about it this way: if you had to wear the same outfit every day for the next 10 years, would you choose uncomfortable shoes, a cheap Walmart shirt, and stiff, noisy pants just to save money? Probably not You’d want something comfortable and enjoyable to wear dailybrbrI apply the same logic to buying a car You drive it every day, so why settle for something you don’t actually want? I’d rather spend an extra $10,000–$20,000 to get a car I truly enjoybrbrInvestments are great—if you live long enough to benefit from them But by the time your money grows, you might be too old to fully enjoy it Your best years could pass you by, but at least you’ll have moneybrbrThat said, don’t buy a car unless you have enough savings to pay for it in cash Still, it’s smart to finance it—but only if you can truly afford it
Comment from : @colekatchmark1138

It would be nice to have a monthly breakdown of expenses below that 5 year chart!brIt is much more understandable for many people if it would show monthly dollars
Comment from : @QuLaZz

Markets look like 2019-20 Probably going back to all time highs, but will probably go sideways until fed signals rate cut, Recently sold 25 of my $285k portfolio comprising of plummeting stocks that were recommended by certain financial YouTubers, quite devastating
Comment from : @SophiaBrittany-jn8xt

That’s really depends on a situation If you have a business you can buy a car and reimburse part of the taxes brbrAnd btw biggest expense is taxes hands down If you employed that’s around half of your salary
Comment from : @muonneutrino

Do not change your oil every 3000 miles, as modern cars with synthetic oils usually recommend 10,000 or even 15,000 miles intervals If you want to be very cautious, do 5000 miles 3 is completely unnecessary
Comment from : @arbyfiles

Everyone bugs me to trade up my 2010 Volvo V70, but it does its job as an ass hauler and costs me about 137,3 USD /month for taxes, insurance and maintanace excluding diesel so passive ownership And most people pay around 300-400 USD / month for passive ownership excluding maintanance So i see that as a win!
Comment from : @christofferothen7537

A bicycle is the cheat code for health & wealth
Comment from : @bicyclexx7

I can only afford 20 years old cars lol
Comment from : @Royy1290

10:38 Yes 20 minute video but don't forget to consider the time factor of changing the oil, taking it to be disposed at the recycling Still worth it for most people of course, but it may matter more for other activities
Comment from : @RennieAsh

10 year old cars should allow you to save more by not needing comprehensive insurance (at fault coverage to your own car), even less depreciation (the most you can lose is what, $5-7k on the high end) brSmaller cars with less fuel usage, less expensive tyres, etcbrOf course if you want something more luxurious or exciting it might cost a bit more, but still good options available used Just research if said model has problems and if you can deal with them if they arise
Comment from : @RennieAsh

That is a sound in my mind Save a lot of money for become weathy or spend the money wise to our own Brought an dream car make ourself more confident and more happier
Comment from : @良良-m8n

Sold my pride and joy because facing the facts it was a money pit lol
Comment from : @HubbyHunn

Synthetic oil is good for 7-10 thousand miles
Comment from : @mattwyro7339

Use to be in car sales 👍🏼, used vehicles have higher interest rates than new
Comment from : @brennanwhite77

I miss my Yaris 😢
Comment from : @diegoeleazar9154

I’ve never had a car payment and never plan to Buy a nice vehicle that’s 8-10 years old that’s been well maintained
Comment from : @andrewnovak6591

Here come the humble brags about 20 year old cars
Comment from : @frankf684

Now dealers charge $165 for a check engine light
Comment from : @freddyw4555

As much as I have been tempted to get a car that is a little fun and more enthusiastic to drive, I have reminded myself to keep my savings and let it grow for bigger and better things My Mitsubishi Lancer might only be the base version and doesn't have that many horsepower, but it's one reliable nugget of a car, plus it still runs after having a head-on collision with a wombat
Comment from : @jonnyronnyguy

People do 2 oil changes a year not 5 what the hell
Comment from : @MsSaskue360

My car is 22yo Same as me, it's my lates dad's car If I can buy it in the future I'd buy it without a 2nd thought Things is reliable n it's not asking a lot except for those high maintenance for a diesel 4WD 🥲 with the wheels costing quite a lot Other than that, it's reliable and I'd buy it again n again in every other universe I never understood why would people buy a lot of cars in the first place tbh, it's just ruining their savings n income lmao
Comment from : @misterpotato4775

Who says you have to change oil every 3k miles? oil changes every 10 k miles are more than sufficient nowadays with good oils
Comment from : @oscarvandersterre9270

I paid it off in cash and the ability to move efficiently generates me a lot more money than upkeeping the car costs
Comment from : @disadadi8958

All my life, I have been putting car payments in my pocket
Comment from : @dbqp17

Buying a new car is definitely the most stupid thing a person can ever do
Comment from : @bendenisereedy7865

I’m 49…i have a bike
Comment from : @jedilegoarts9882

EVs are expensive? No A brand new model 3 standard range is like $30,000? Not to mention the used ones
Comment from : @jackyharuhiko

Most men live lives of quiet desperation You act like mortals in all that you fear, and like immortals in all that you desire You will have lived, died, and been forgotten having driven a Camry to work everyday for 40 years 😢 LIVE!!!
Comment from : @Ruxl21

Also my guy there plenty of states that don't have taxes on PP So most of what you say is just from a few mins of internet look over and not real world Alot of cars are actually more valuable directly after purchase (exotics) What you are talking bout in the car world it's the " Disposable cars" Rock on! 9:36
Comment from : @costasgeorgiou5015

Well for me wealth is in cars cause I build motors Meaning I make about 7 k a week doin so cause everyone needs a car to get around and knowing that is how I got job security and drive, Audis and Porsches myself 3:17
Comment from : @costasgeorgiou5015

I have a Honda HRV with 120k miles on the clock It was 89k miles when I bought it used for £9300 The original value was £28500 Still going strong 💪🏽
Comment from : @abhinavinsearchofthelost

Changing oil is a dirty job, dont mind paying for the convenience
Comment from : @Uneducatedopinion57

Buy used Buy within your means All cars are basically the same these days so your massive truck with a 4 banger in it isn't impressing anyone
Comment from : @moad8794

My 1962 Morris Minor 1000 is not for sale Costs pennies to run and depreciation is zero Actually it's going up If I can find a rag top version I will consider a trade
Comment from : @JamesWilliamson-w8y

I really hate that sayingbrbrBecause some one has a nice car, suggests they have a lot of success brbrbrITS such a stupid saying brbrbrI have seen and heard a lot of people saying they really regret buying there new cars, because of the debt weighing them down brbrbrCar, is a debt on Fianance, for me that is a big NObrbrnew cars are too exspensive, over rated , the asking price on a lot of new cars in my opinion is robbery brbrI won't cross that line , my 2018 car all paid off, is fine and I,ll keep that for many years to come and knowing it's fully paid forbrbr👍
Comment from : @cc-iq2bs

I'm not poor, I just don't have money
Comment from : @TheRealJoeMartinson

5 oil changes per year???? Wtf???
Comment from : @sh0rtaznant

Oil change every 3000 miles on a civic? Do you research 😂 it’s closer to 7500 miles to be safe and 10,000 miles is ok
Comment from : @timcurtet3927

One thing these videos never account for is the awkward social life which "not having a car" builds around you especially if you're a man in your 30s Just try to make MORE money, a car is an absolute essential I've been working from home since 2020 yet a car is still priceless whenever i need to do groceries, get to and from the gym or be out on a date with your significant other, a weekend outing with friends or just visiting family on the other side of town, either ways, a car is worth it, always Just don't go overboard in trying to impress people with a neckbreaking purchase Buy for function, not for status
Comment from : @GHOST-cy7rc

What killed the beater car was emissions testing Back in the good old days you didn't need to test and could drive an old 8cylinder GM Not anymore!
Comment from : @HankCook-o7u

This is same with cars, phones, consoles 99 of the time these phones barely upgrade yet people buy every single one They fall for the marketing and societal pressure You get clowned if you own an old working phone or car People try an act rich and entrepreneurial by buying the newest stuff It makes you look like a poor person pretending to be rich This is the reason retirement is so hard to achieve Before, we would til something broke before replacing
Comment from : @nasheeds8218

me who doesn't have license what?
Comment from : @HUEHUEUHEPony

You don't need to change the oil on your car 5 times a year, especially on something like a civic
Comment from : @brendanrogers1990

You can buy a nice car and not have to worry about depreciation You just have to be smart and buy the right car
Comment from : @zenifgar6686

I paid $5500 for an 06 Hyundai in 2016 Yearly registration is $100 Yearly insurance is $400 I can change my own oil for $25
Comment from : @chillydawgg4354

Best thing i did was leave my gold digger wife ! Am better off ! Just got find someone nice in 2025
Comment from : @peterkirgan2921

I would also say - another wealth killer is occupying a space that takes up way more of your home creditability than you need Yes it's often a good idea to leverage the credit banks are willing to give you as your income goes up - and a lot of people sell their home and upgrade to a bigger home That's fine, but a far better move is, buying a second property with that money and rent it out, while remaining to live in your original place It's another matter if there are more kids, you actually need more space - but a lot of time people upgrade to a bigger home for status, not for space they will actually make good use of
Comment from : @markrcca5329

I'm mind blown by how often people have a really nice car with a job that really can't pay for it
Comment from : @emilegoguely4032

Cars are more fun now and less of a status symbol They are expensive gadgets and a lot of fun to own and drive
Comment from : @AaronCrawford

Bike and bus, even with kids, has been the best financial decision
Comment from : @zzz6valvoline

Good tips, but I would go for older cars, the depreciation curve has gone, say 5-8 years, grab a good bargain and you could sell it at zero loss in 1-2 years You would have to have some car knowledge however or you could get a bad one!
Comment from : @mrt-ji9qg

I just upgraded my 2004 GMC sierra for a 2021 Corolla Paid cash for the new whip
Comment from : @fber5591

Beta mentality, you save more money for what? We have one life so drive what you enjoy, money is there to be spent
Comment from : @Lew-Mcc

Most new cars are crap anyway not as reliable as an older car for example my friend 1998 honda civic with 270 k miles i think he spent 10k over just for maintenance 17 years
Comment from : @djkingnate

Insurance is $6000 a year??? Back when I drove a 7 seater people carrier in the UK, I was paying about £1000 a year in insurance I would never have spent £5000 a year on insurance
Comment from : @cern1999sb

3000 miles oil change? What kind of oil you use? Sunflower oil?
Comment from : @tanasemirceaviorel5029

Let's appreciate all Civic drivers that are changing oil every 3k miles
Comment from : @Varskae

You don't need a car!!!brbrRIDE A BIKE!!!!!!brbri used to walk 45 minutes both ways to workbrbrThe lunch break you can sit in the breakroom watching comlany videos
Comment from : @RingoYote

got a 14 year old car with 44k miles no car payments ever again!
Comment from : @TheEdgarRiveroChannel

Car insurance is REALLY that expensive in USA?!?
Comment from : @BICIeCOMPUTERconGabriele

I just get a cheap car when i only think it can help me to generate money
Comment from : @dannylim1503

Ahhh this channel is a Financial advisor This video was recommended to me I am a real car guy and have several cars, luxury and sports cars and motorcycles, it’s my main hobby and every penny that’s not housing me or keeping me alive gets directly put into the cars and motorcycles I was watching this video and was kinda irritated as 90 of my YT recommendations is about the sports cars hobby haha!
Comment from : @edcgadgets-de

Smiles per gallon tho? 😅
Comment from : @EuroSpeedGarage

Buy a new Prius (new) You will never need another car again Buy a Ford Maverick or rent a U-Haul if you need to going to home improvement stores once or a lot 😂 A new car not supposed to be an investment 😂😂 unless you buying something crazy special like a GT3 RS Porsche or SVJ Lamborghini or GT2 😂😂🎉
Comment from : @Tony-l9g7y

Planned obsolesence has made this a little trickier Older cars were built to last a 3-5 year is getting worse every year
Comment from : @musicandbikes6689

This nothing but a spamscam video
Comment from : @christopheraden4035

The biggest wealth killer is doing an oil change every 3000 miles lmao That's way too much The oil change interval for most cars is at least 9000 miles
Comment from : @AnimalzyNL