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The first chapter in that book so paralleled my experiences working in Vail and Aspen it was quite funny. I found much the same and it was a really educational experience for so me. My job was working for the uber wealthy and high income types and I learned more than you ever could getting a masters. It gave me a unique insight into how to become wealthy and also how not to do it.
Almost always the most flashy people with all the gear and the big talk, had high incomes but had tons of debt and if the income ever ran out, they were out.
Not everyone who rents makes poor decisions. For some, being a tenant is a turn key way to keep housing costs low.
Indeed, I never said they did. In fact were I to move now I would rent because in many markets (including my own) you can rent cheaper than you can own. Although there is such a thing as a "renter's mindset".
But owning an "old" Jag is definitely a poor financial decision!
I can't tell you how often we had tenants filling our an application asking if we would "consider giving them an option to purchase the house. Generally these tenants earned more than we did but were paying somewhere near a house payment in car payments. One particular couple replaced their cars so often I couldn't keep up with it, always claiming that they screwed the car dealer so badly that they were coming out ahead on every deal.
They finally bought the house from us with NO DOWN PAYMENT, lived there another 6 years, so it for what they had paid us and moved into another house where the owner was willing to finance them with little or no down payment. They paid way over market for it as well!
A woman I used to know was walking with me in downtown Boston. We stopped and looked at a Mercedes 2-door sports car, and she sighed, "If I had one of these, I'd know I'd made it." And even then, I said, "Only if you can afford it." (She was also, most distastefully, drawn to men with money- guys who knew the game and played it to the hilt).
I guess I'm not sure where this "Society says," comes from. Advertising, of course, and it's important, I think, to purposefully not look at or listen to. If you do, how hard is it to understand that the whole point is to part you and your money for ego? Aren't parents teaching their kids not to judge themselves and others by this stuff? (No? Uh oh).
But owning an "old" Jag is definitely a poor financial decision!
It is/was a beautiful car. If everything were about a making "smart" financial decisions we would all be driving 50 year old Volvos living 10 to a room in small apartments.
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But owning an "old" Jag is definitely a poor financial decision!
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I agree with your sentiment.
However I must take exception to this one passage.
When I lived in Scotland, I have owned two 'old jags'.
They were kind of fun for a while, each of them cost me under 500quid and I sold them for about the same that I had paid for them.
One was a regular coupe while the second was a limo with the suicide doors, nice 12 cylinder engines, but those goofy upside down carbs that needed to be tweaked weekly.
I am not into clothes or cars, to put it mildly.
A co-worker of mine is *always* dressed sharp, even for a third shift job where no one sees him. Always drives a (used) Cadillac. Lives in a rental apartment with family.
He was looking at my beat-up sneakers and said, "Girl, if I didn't know better, I'd think you were poor!" I said, "Larry, I don't wear it and I don't drive it. I've GOT it."
I am not into clothes or cars, to put it mildly.
A co-worker of mine is *always* dressed sharp, even for a third shift job where no one sees him. Always drives a (used) Cadillac. Lives in a rental apartment with family.
He was looking at my beat-up sneakers and said, "Girl, if I didn't know better, I'd think you were poor!" I said, "Larry, I don't wear it and I don't drive it. I've GOT it."
And you could be hit by a bus tomorrow and not live to see another day. He who dies with the most toys wins...so to speak...
Being smart is important but a lifetime of it isn't fun. I did 6 years of it and finally realized while money doesn't buy happiness it sure makes life way more enjoyable to spend some once in a while.
Ahem.
I simply said I'm not into clothes or cars.
He who dies with the most toys is still dead.
I spend money on pets, charity, my dream house and horseback vacations. I don't personally like "stuff" (oh, except for Southwestern artwork). I'm not cheap, tight or even frugal. I just don't see why people feel compelled to buy stuff because "society" says to do so.
Once you incorporate that mentality into your sense of self, advertising's work is done. You believe it, you *are* it. Stick a fork in it, it's a done deal.
If someone can afford an old Jag (or whatever) and enjoys it, then buy it. I just worry that a lot of buying is done with that internal corruption from advertising "society" and what other people will think if you display some stuff you bought (or charged).
I don't think people should get their sense of self from what they do or don't buy, or judge others by the same.
If you knew how I lived, you'd understand that no one would ever accuse me of not "spending some once in a while." I just don't buy stuff that people see.
If you knew how I lived, you'd understand that no one would ever accuse me of not "spending some once in a while." I just don't buy stuff that people see.
Ah OK so I guess that makes you better than the people who like driving luxury cars, cool new gadget filled cell phone, or designer jeans.
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