More on depreciating assets

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It bears repeating that depreciating assets make you poor. A new car depreciates about 20% at the time of purchase. That's $1,000s in a matter of hours. TVs, phones, clothes, a fancy dinner - they depreciate 80-100% at the time of purchase. All that said, it's ok to be occasionally extravagant - reward yourself sometimes. You get the point.

Btw, can there be a bigger money pit than a boat? “The best boat is a friend’s boat.” :)