A caller to the Dave Ramsey Show recently set off a pointed conversation about cars, wealth-building, and what it really means to earn a good income.
The caller, a 24-year-old named Micah, earns $80,000 per year, maxes out both his 401(k) and IRA, and carries zero debt
His question was simple: he has $30,000 in cash that he wants to put toward a 2019 Nissan 370Z as a weekend play car, and he is not sure whether he should invest the money instead. Ramsey’s response was blunt. He offered one guiding principle for anyone who wants to accumulate real wealth rather than just appear to have it.
What Ramsey Says Will Stop You From Building Wealth Ramsey told Micah straight out that buying the sports car was a poor choice for anyone serious about getting rich. He acknowledged his own love of cars, mentioning he had driven to the studio in his Raptor that morning, before landing on his core point: “If you’re going to build wealth, you have to keep as small an amount as possible going into things that go down in value.” In Ramsey’s framework, cars are the textbook example of a wealth-eroding purchase. The depreciation math supports him.