Paying taxes
So I fI was going to put 30,000 in retirement can I use that as collateral or finance a toyhauler?
Forum Discussion
I am confused by the relationship between saving for retirement and buying an unnecessary RV. The whole concept seems mighty strange to me. If you are saving for retirement - then save. Spending is not saving.
Financially an RV is a total waste of money. You may justify it by the enjoyment you get from it but it is an expenditure on a depreciating asset. Unless you live in it the expenditure can never be justified financially and certainly will not contribute to your retirement savings.
Personally I think purchasing toys like RVs, motorcycles, etc., are only justified if you can pay all your bills, save for retirement, and still pay cash for the toy.
Financially an RV is a total waste of money. You may justify it by the enjoyment you get from it but it is an expenditure on a depreciating asset. Unless you live in it the expenditure can never be justified financially and certainly will not contribute to your retirement savings.
Personally I think purchasing toys like RVs, motorcycles, etc., are only justified if you can pay all your bills, save for retirement, and still pay cash for the toy.
