My buddy in Phoenix said he'd rather buy a new truck than put $500 a month into his 401k

We were grabbing a beer after a job, and he was dead serious about it. He said the truck was a 'real asset' he could use now, and that retirement was too far off to worry about. How do you even start to argue with that logic?

2 comments

2 Comments

uma_patel192d ago

Ever wonder how much that truck will be worth in 30 years compared to the 401k? I used to want stuff now too, but compound interest changed my mind.

mark_fisher481d ago

Good point, but what about the memories? That truck could mean camping trips with the kids or helping friends move. You can't put a price on twenty years of that stuff. The 401k buys a quiet retirement, but the truck buys a life worth remembering.