this post was submitted on 18 Oct 2026
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Notably, he's talking about poverty.
People in poverty don't have credit card debt because of poor spending habits, they have it because they needed to replace their car's engine to keep their job and didn't have any money to pay for the expenses because of the poverty.
Nothing he talks about is useful for people in poverty. It's exclusively useful for boomers with more money than sense.
Dave's advice is basically put your money in index funds and wait for the 7% interest to give you a million dollars. And you should be spending zero money on anything else, healthcare? Don't get sick. Car? Buy a used car that doesn't have any issues (how does one find this mythical cheap car that doesn't have any issues? He never specified) Food? You can live off a 500 calorie diet for a few years right? The important thing is to sacrifice every ounce of joy you might have, and prepare for when you have the money saved and in your fifties you can waste that money on the most horrible Carribean cruise experiences of your life.
1999 Toyota Corolla