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Mind of a Millionaire: How Should You Finance a New Car; Rapid-Fire FAQs

| April 28, 2019
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This week we took a little different approach – we did a rapid-fire question-and-answer session with Zak. With a buildup of frequently asked questions, we tried to answer as many as we could in the run time of our show, briefly, but fully, answering some while diving deeper into others.

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What is the difference between money and capital? ­[0:40]

Is artificial intelligence overblown? [2:08]

Why buy value? [4:10]

How can investors use history as an indicator for future performance? [6:09]

What’s your stance on the FIRE movement? [7:50]

What should you look for when choosing health care on the open market? [10:14]

What is dollar-cost averaging and why is it important? [12:16]

How should you finance a new car? [14:24]

  • Is it OK to use your emergency fund to buy a car? [16:01]

What are some frequent uses of the opportunity fund? [17:22]

  • Do you usually start an opportunity fund for a specific opportunity? [19:11]

Should you invest or save for a new car?[19:56]

How often should you review your budget?[21:05]

  • Bouck family spending fasts [21:34]

 

Thanks for tuning in to another episode of the Mind of a Millionaire podcast. If you have financial questions of your own, give us a call, we would be happy to answer them.

 

S&P 500 50-Year Average Return [6:30]

Image Source: The Motley Fool

Return Data from 1928-2013 [6:30]

T-Bond return from Barclay’s Aggregate Index.

Data Source: The Balance

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No strategy assures success or protects against loss.

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Please keep in mind that insurance companies alone determine insurability and some people may be deemed uninsurable because of health reasons, occupation, and lifestyle choices.

Dollar cost averaging involves continuous investment in securities regardless of fluctuation in price levels of such securities. An investor should consider their ability to continue purchasing through fluctuating price levels. Such a plan does not assure a profit and does not protect against loss in declining markets.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

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