I have a bit less than 200 CDs and I have buying them for 30 years. So I am way money ahead from that standpoint.
I think the overwhelming majority of the population realizes that automatic investment plans like 401Ks are are a fantastic way to build wealth.
Conversely, plans that automatically spend money are tremendously destructive towards building wealth. Every time you spend money you deprive yourself of the opportunity to invest wealth.
$
10 a month over 30 years invested at the historical rate of return for the stock market of 9.5% would give you about $18,000.
When you add up all the music and video streaming services, an Adobe subscription, the extra money on your car payment for for all those nice options, payments for a top of the line phone every two years, etc and it results in a huge amount of money disappearing easily and effortlessly without any thought.
Buying CDs on an individual basis at least makes you contemplate the purchase. It is still money being spent but there is effort involved.
Sure, we all have different things we want to spend money on but there is absolutely no such thing “as low monthly payments for the rest of your life”.
And no, I am not pretending to be a financial advisor, I am just saying the math is totally cold blooded. Totally, heartlessly cold blooded.