Wealth Manager drives an Old Toyota and Saves a FORTUNE

[@tonylevine2716]

Insurance is crazy right now here in northern VA/DC!! Also, we have a car tax here, and if you have a newer, expensive car, that tax is crazy too!! But, even the tax on a 3-5 year old car is expensive too!! Car taxes are one of the main revenue streams for municipalities. Good video!

[@7SideWays]

I'm impressed! Your points to having a reasonable, reliable older vehicle with no payments and low insurance premiums are spot on. My 23 yo minivan and I agree💪

[@YourRichAuntie]

Thank you for the compliment!

[@Kardiacarrest]

Love your channel. Keep the good content coming!

[@YourRichAuntie]

More to come!

[@AgingOnYourTerms]

Love this, Robin! My Baby (2000 Chevy Tahoe) only goes to the dealer for the same reasons you mentioned. I am going to drive her until they can no longer get parts for her. 😂

[@YourRichAuntie]

Right on!

[@solarcognac7112]

I have a 11 year old truck. No tickets or accidents and my insurance still went up and I live in a small town.

[@YourRichAuntie]

In some parts of the USA insurance is rising across the board because insurance companies are under so much pressure from weather events and natural disasters

[@over07ful]

A Toyota Corolla is made to last 400k or 25 years. There is no need to go to the dealership for expensive maintenance as any local mechanic can service it. Parts are readily available and relatively cheap. I bought my daughter a 2010 4 years ago for 7k with 114k miles on it.

[@YourRichAuntie]

If you’re not concerned about resale, I agree it’s a pretty simple car. But if you want all maintenance history and want to trade it in on a Toyota (which I’ll likely do) then having the full record at the dealer is important

[@gurrrrlish]

great advice... my precious Prius is 2008.... never any spend besides meticulous regular maintenance..... i plan to keep it till it stops moving.... do not really care if people think i'm poor - all the better if they do..... cash net worth > 2M...

[@YourRichAuntie]

More millionaires with older reliable cars need to tell their stories. Younger folks are hearing about the “rich” guy on KZbin with a Lamborghini. They don’t hear from rich people in old Toyotas

[@tonylevine2716]

@@YourRichAuntieRick Ross has 200 cars!! 😳🤦🏾‍♂️

[@YourRichAuntie]

@@tonylevine2716 when he was broke he didn't have 200 cars. Now he is rich he can buy what he wants. Many of those cars are leased or even gifted to him because he's a high profile celebrity and the car brands want the publicity

[@tonylevine2716]

@@YourRichAuntie Ok, but 200 cars? Add in insurance, maintenance, detailing, storage fees, etc:, and it can get very expensive. Just because you can afford to do something, doesn’t make it smart to do.

[@ArizonaLuxe]

I think almost (not all) any car can be trouble free with consistent maintenance. My 10 year old Mercedes SUV has 126k miles (bought it used in 2016 with 23k miles). I've had not one single issue. I have it serviced at the dealership and the oil changes are around $300. I get them done every 10k miles (as recommended), which ends up being once a year for me. Whatever you decide to drive, take care of it.

[@YourRichAuntie]

Good point. Each brand has its good cars and each brand has a lemon or two

[@StreetsAhead120]

I love my 2019 Honda Accord but I'm planning to keep it for another 10 or 15 years.

[@YourRichAuntie]

Hondas are well built so with proper maintenance that should be possible

[@scottsellers8967]

What makes a person a wealth manager as opposed to just a CFP? What net worth is needed to be considered wealthy or a HNWI?

[@YourRichAuntie]

Good question hnw $5M or more uhnw $30M or more. Cpwa (certified private wealth advisor) designation in addition to the cfp makes me a wealth manager

[@ursulac.2952]

Toyotas are reliable. I have a Kia their pretty reliable and good on gas expect for the fact that their a bit easier to steal if you have an older model.

[@YourRichAuntie]

Thanks for the comment.