How Toyotas Build Millionaires: Driving to a Rich Retirement

[@backcountryFLcyclist]

Ha! I just hit $1m net worth and still drive a 2011 Expedition! So true! My son just graduated college and is starting his work career and I gave him the advice to buy a used Toyota and Honda. He is currently driving a 2002 Toyota that got him through high school and college. Nice hair.

[@Buckshott_54]

I am a retired Air Traffic Controller. When I retired 90% of air controllers at my facility earned more than six figures. This was 15 years ago…when 100K was real money! But you wouldn’t know this by looking at the parking lot. As I remember out of 60 air traffic controllers there was ONE Mercedes, No BMW’s, No Lexus’. Today my vehicle 15 years and I credit the keeping of my OLD car for my ability to stack wealth by the thousands. Cars are massive wealth suckers! Great Video 🙌🏽

[@YourRichAuntie]

Thanks!

[@shanarobinson7672]

Thank you for this. Would you recommend pulling out of a regular brokerage account such as a fidelity go account?

[@YourRichAuntie]

Can you clarify what you mean by pulling out - so you mean taking a withdrawal from a brokerage account to purchase a car? It depends. If the dealership is offering 0% financing, it may make more sense to take the 0% financing and allow the money in brokerage to grow

[@AgingOnYourTerms]

I love this! I recently took my 24 year old car in for maintenance, and while I was in the waiting room, someone in sales called me to see if I wanted to trade it in for this year's model. I said, "No, Thank You!" She asked if I was sure. She could give me very good terms. I responded, "Unless those terms are zero down, 0% interest, and no payments, I'm good with the car I have." She actually stuttered and tried to find a response, but I stopped her and told her there was nothing she could say to make me buy a car.

[@YourRichAuntie]

24 years! Love it!

[@AgingOnYourTerms]

@YourRichAuntie I became a full-time telecommuter in 2008, and it makes no sense to upgrade a vehicle I drive less than 1k miles a year.

[@YourRichAuntie]

@@AgingOnYourTerms what brand is your vehicle? I always want to know reliable brands

[@AgingOnYourTerms]

@YourRichAuntie It's a Chevy Tahoe

[@Hollywhite1]

When my car got 12 years old I had to stop going to the dealer for Maintence because they wouldn’t leave me alone about how old my working car was

[@7SideWays]

Wealth whispers. 100%!

[@GordonGavin]

My car is an '03 Acura and my wife's is an '08 Lexus. We are just banking all those would-be car payments!

[@tam6011]

I keep telling folks people lease those expensive car. There are some that buy but they lease. I got friends who are general managers and finance managers at mercedes, Ferrari, and Porsche. They will tell people do all kinds of things even going out to 10 years on car.

[@YourRichAuntie]

Many cars are leased. Who’s going to go 10 years out on a car that depreciates like a brick? I wouldn’t think the lender would take that risk. Longest I’ve seen is 8 years

[@tam6011]

@ yeah once you 250k and up they will go out 10 years on a loan. Seen it with my own eyes. There is a certain lender that does 200k and up. Its call Woodside Credit

[@sherriegray1447]

I agree with you 100% about not buying a new car every four or five years. Wealth Thief. I drive a 25 year old Toyota Camry. I purchased it brand new 1998. The car still drives well no major issues. This has allowed me grow a healthy net worth. I agree with your statement. The vehicle interest rate will determine if I pay cash or finance. I have money saved for my next vehicle. Thank God. Half the money is saved in cash. The other half is saved in Taxable Brokerage. Good video.😊

[@YourRichAuntie]

Thanks! Do you live in an area with good weather so you can drive a car forever?

[@tam6011]

@@YourRichAuntie I travel but home is Florida.

[@bertshimabukuro640]

Hit millionaire status by 50. In large part because of driving a 2008 Corolla and 2007 Highlander. “Splurged” on a 2024 Lexus UX250h that I’ll drive for 15 years. Consume less, invest more.

[@YourRichAuntie]

Congratulations on your achievement!