I've previously mentioned that a two-car family in the suburbs pisses away a whopping $540,000 on car-related costs over a 30-year working life. Wow, talk about an expensive addiction!

Now, Todd over at Cleverchimp points out that in the U.S., household automobile costs average $600 per month. Invested over 25 years at 10% interest (lower than how the New York Stock Exchange has performed), someone who lived car-free would have a big time retirement party fund of $796,000.00 in their investment account.

Okay, everyone go car-free today, and we'll all have a big party in 25 years, celebrating our retirements!

2 Comments:

Here in Oz a recent study notes that the family car now costs up to $250/wk to run, how much higher can it go before folks wake up. As you've mentioned here before Joe, in the long run it's cheaper to buy a home that's just a bit more expensive yet closer to the city or where you work.

It's motoring madness.

By  Phil, at 7:02 PM  

Wish I knew that 25 years ago, which is about when I bought my first car! :-)

By  Fritz, at 2:46 AM  

Post a Comment