Quote:
Originally Posted by Nitrouz
absolutely. But that's just bad financial management. Not unlike how some people would buy things on their credit cards when they cannot pay it off, yet still buy more and more and get into debt. Just because they can, doesn't mean they should.
There are exceptions like these.
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of course, the sad fact is though, that the majority of the US is horrible at money management.
Bloomberg the other week showed bankruptcy statistics on NFL and NBA players. THeir findings:
within 5 years of retirement, 60% of NBA players and 78% of NFL players go bankrupt.
Just trying to point out how 300k annual car expenses could help contribute to this.