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| Halfpint is giving some of the worst financial advice I've ever seen. Buy a boat with cash, even if you can't afford much, and make "payments" into savings and retirement (Roth IRA) accounts. Get 4%+ interest on your savings and buy the boat after you've saved the cash.
Debt for trucks and boats isn't necessary and avoiding those payments will put you in an awesome financial situation. Also, most boat loans are very long term and even at a reasonable rate of interest (6-7%) you're paying a ton of interest over the course of the loan.
Easiest way to save money is to drive more affordable vehicles longer. Take or leave this advice, but you're at an important point in your life and the choices you make now will affect your financial position for the rest of your years. People can retire very comfortably (perhaps even early) on the most modest of incomes with proper planning and saving. | |
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