i’ve been thinking about money and stuff. People save money for retirement and they dream to buy some things and enjoy those things when they are retired. But you make certain amount of money during your life time. What matters is what you use it for. It doesn’t matter if you wait until you are retired and then use your saved money to buy those things. You could just buy those things today(if you have the money already saved). This is true only if the product is so high quality and so usable that you can use it for decades.
What kind of products fit this description? I’ve been thinking about that and noticed that high quality hand tools are in this category.
You can enjoy tools for decades and when you retire you still have good tools. There is no reason to wait. The sooner you buy the tools the better, you don’t have to buy all at the same time, but over the years, when ever you need a tool, just buy one and with a good quality, and it’s a great usage for your money.
Gold chain is going to be a gold chain 50-100years from now. it’s not going to rust away, it may go out of fashion, but it can be melted and it’s still valuable. Gold bar is valuable, but you cannot use it? So the decades of usage is not possible.
Some classic motorcycles can be used for 100years. They don’t rust and are usually fixable for ever. Some Harley Davidson models could fit this category, but sometimes it’s best to buy those at fair value when they are 10-20 years old and continue to use them for ever. Buying new and selling at 15 years doesn’t give you the best value for the money. But it depends on your mechanic skills…
Land is not a good investment, but it stays in value and you can use it for recreational usage or farming or hunting for decades and you enjoy it rest of your life and it’s going to stay there for ever. Of course the land quality/location matters like in any other stuff. This of course also depends on the country, if property tax is low or non existing it’s better, if it’s high it’s not.
You can live in it. And it provides a good inflation protection. But only houses that last for ever. At least your life time. And are cheap to upkeep. (low property tax and heating/maintenance cost)
Good quality guitar lasts a lifetime and is enjoyable for a long time. Same with some good quality tube amplifiers. But most people buy cheap, then upgrade and buy another cheap. Buy just one. A good one.
What other categories are there? I’m still thinking… feel free to chime in if you come up with some new category.
The final though is: ‘price is what you pay, value is what you get -Buffet?’. Aim for a simple life, select only one of each, but use your time to find and select the best. You have to work for your money, so make it count what you use the money for.