You know I wondered for years what is worse.
1. Dying early without spending your money.
2. Growing old with little dosh because you spent it all.
And the answer is simple. One you never find out about, and the other you get to experience first hand. And I would not like to be old and poor and thinking about that great Ferrari and/or Lamborghini (insert name here) I wasted my critical cash on.
And no I am not against finance on cars, just the right people doing it and not the Hoi Polloi. But I do believe that high end extravagances like expensive boats and cars should only be purchased once you "own" all your major assets and mostly using cash.
I am all for wasting money on things like flash, expensive, stupid, ridiculous cars (and women) but only once you can really afford it.
And yes, I do think like an accountant!!!!!
Haha! That is a perfectly reasonable position. Just not one I personally subscribe to. There is no right or wrong, really.
For me, I don't see the point of having a Ferrari in the garage when I'm too old and tired to enjoy it.
Once I get to that point - and we all will if something horrible doesn't happen earlier - I'll be happy if I've got a comfortable chair, a nice scotch in the cupboard, and a decent telly with cricket on 24/7. A nice woman to pour my scotch will be a bonus...
If I can sit in that chair and remember the days when I did have that car and all the fun I had, that will be more than enough.
No matter how much an accountant / real estate agent / insurance salesman tries to spin it, that is more exciting than anything else you can do in your 30s, 40s, and 50s...
And for anyone other than the very lucky, some level of finance will be required to do that.
However, I do agree with you that a lot of people fuck that maths up.
But they do that at all levels of the $ scale. Stupidity exists regardless of income.