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29th February 2008, 01:37 PM
#1
Car Loan - Sure Lose Liability
Talking about negative cashflow, well, THE "killer" is actually Car Loan.
Taking a Car Loan (interest rate 5% to 6%) on a Car (which depreciates in value by $6,000 to over $10,000 a year).
At last count, we have more than 500,000 Cars on the road, or taking a family size of 4 persons, means 1 out of every 2 families in Singapore OWNS a Car.
I think we have found the REASON why most people do NOT have enough money to retire, becos most people "Invest" their money in a "sure-lose" Liability.
a sure sad thing to know and i'm one of those in this category.
Evel
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