Posted by Geo-TH,In on August 20, 2019 at 04:03:18 from (50.102.16.169):
In Reply to: Solar panel update posted by philip d on August 19, 2019 at 13:59:56:
I think people that use the term "pay for itself in 10 years" is crap. I have many investments in market. Some guarantee a 6% or better annual return. 6% minimum and better if the market does more than 6%.
For the mathematically challenged, a 6% per year return means in less than 12 years your investment will be double. So in less than 12 years your $33,000 becomes $66,000.
So when something pays for itself, you better think of will it pay for the interest on money you borrow and the loan too?
18 months ago I bought a new car. It was the first time in my life (70) I didn't pay cash for a vehicle. I took out a GM 1.9% loan. I anunitized a market investment which each month it deposits a check in my checking account. GM withdraws monthly payment from checking. My market investment is paying for my car and at the same time the investment value is increasing. That's what I call paying for itself.
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