Comment on Anon tries to understand credit scores
ryathal@sh.itjust.works 2 weeks agoHaving 20k plus the cash flow to pay a 20k loan is a totally different scenario than buying a car for cash. If you need that 20k to pay the 333/month, it’s stupid to trust the market isn’t going to go down, and simple savings would net you maybe $500.
TubularTittyFrog@lemmy.world 2 weeks ago
the market hasnt’ gone down in like 15 years dude.
ryathal@sh.itjust.works 2 weeks ago
It’s gone down moth over month many times though. If you are dependant on that principle month to month it’s insane to trust the market.
TubularTittyFrog@lemmy.world 2 weeks ago
all that matters is the value when you cash out. if you are sitting there agonziing about an assets value month to month you’re doing it wrong.
ryathal@sh.itjust.works 2 weeks ago
Investing is great for retirement funds, over the 30 years or so it’s great for returns. It’s terrible to invest principle you need in scope of months or 1-2 years even.
If you have 20k and a 20k loan, putting that money in the stock market is stupid if you need that money to pay the loan. If you have 20k, a 20k loan, and income to cover loan payments in addition to living, it may be beneficial to invest that 20k, but it’s still relatively high risk.