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Updated almost 4 years ago on . Most recent reply

User Stats

194
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David J.
  • Investor
  • shawnee oklahoma
148
Votes |
194
Posts

When is it ok to buy a depreciating asset?

David J.
  • Investor
  • shawnee oklahoma
Posted

HI,
I have been a real estate investor for many years now. I have been very disciplined with my investing strategies, making sure to budget, and invest as much as I can. 

I now have about ~ $4M RE portfolio, ~$240K in stocks, and decent monthly cash flow.  I am about 70% leveraged or less.

For years I have been driving an old beat up pontiac that now has 250K miles on it. (still runs great)

I am now in my 40's and for some reason getting an itch to buy a nice car that I totally do NOT need. Even though it's 5+ years old It most certainly would continue to depreciate and goes against any advice I would give to someone else. I don't know how to ditch the urge. It seems to be growing stronger with each passing day.

When is it ok to buy something stupid?

Most Popular Reply

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3,927
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Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
5,644
Votes |
3,927
Posts
Greg Scott
#3 General Real Estate Investing Contributor
  • Rental Property Investor
  • SE Michigan
Replied

Congrats on your success.  Seems to me there's no point in building wealth if you don't do something with it.  Live a little.  Give to charity.  Help someone out. Buy a car.

  • Greg Scott
  • Loading replies...