My only debt is my (one, singular) mortgage. I use credit cards, but pay them off every month in full.
Trumptman probably couldn't stand to keep the amount of money I have saved up to buy my next car without going out and buying some other investment property instead.
If that is a passive-aggressive at some investing advice, I'll be more than happy to help and recommend some books.
It's not that I hate vehicles or would only spend my money on housing, rather that if you look at most depreciation curves they start very steep and then level off.
I like buying things when they are quite servicable and usable, but where the largest part of the depreciation has already been gone through since that is literally like throwing money out the window.
For example others had to listen to me crow about purchasing my new (for me) Powermac tower. It is a dual 1 gig machine with geforce4mx, 512 megs of DDR-RAM, 80 gig HD, Superdrive, etc. It is the first generation of dual mirrored door Power macs. It is about 9 months old now.
It sold new for about $2500. I bought it for $1100. Does that mean it will never decline in value? Of course not. Someday this thing will be worth $50. However the quickest part of the depreciation has been gone through. ($1400 in 9 months is pretty damn fast) Likewise it will be a machine I will use for a couple of years minimally.
But I would tell anyone that has say, $20k saved up to invest in something that appreciates. I find deals all the time for vehicles that have so few miles on them, they are still under warranty and they are also $5-6,000.
Comments
Originally posted by shetline
My only debt is my (one, singular) mortgage. I use credit cards, but pay them off every month in full.
Trumptman probably couldn't stand to keep the amount of money I have saved up to buy my next car without going out and buying some other investment property instead.
If that is a passive-aggressive at some investing advice, I'll be more than happy to help and recommend some books.
It's not that I hate vehicles or would only spend my money on housing, rather that if you look at most depreciation curves they start very steep and then level off.
I like buying things when they are quite servicable and usable, but where the largest part of the depreciation has already been gone through since that is literally like throwing money out the window.
For example others had to listen to me crow about purchasing my new (for me) Powermac tower. It is a dual 1 gig machine with geforce4mx, 512 megs of DDR-RAM, 80 gig HD, Superdrive, etc. It is the first generation of dual mirrored door Power macs. It is about 9 months old now.
It sold new for about $2500. I bought it for $1100. Does that mean it will never decline in value? Of course not. Someday this thing will be worth $50. However the quickest part of the depreciation has been gone through. ($1400 in 9 months is pretty damn fast) Likewise it will be a machine I will use for a couple of years minimally.
But I would tell anyone that has say, $20k saved up to invest in something that appreciates. I find deals all the time for vehicles that have so few miles on them, they are still under warranty and they are also $5-6,000.
Nick