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Updated almost 4 years ago on . Most recent reply
When is it ok to buy a depreciating asset?
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?
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- Rental Property Investor
- SE Michigan
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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.