I struggle with the finer things in life. I can afford them, but find it attracts unwanted attention.
I used to live in one of the nicest neighborhoods in my area. In the three years I lived in that neighborhood my car was stolen once, knocked out the rear window four times (stole the stock stereo 2X), the change out of the console, and a few dress shirts out of my car.
Upon buying the Lexus, someone keyed the car, and then when parked in a parking lot at the mall someone sideswiped the car causing 2600$ in damages.
I since have moved to lower middle income neighborhood, drive a Prius and haven't had a problem with theft in the past 7 years.
Luxury items are super nice but also attract a lot of unwanted attention.
Originally Posted by Fizley
A few decades ago a survey was made about what type of car a millionaire drove. The results were not as expected: almost none drove the most expensive car, that was for the showoff guys and girls.
The millionaire drove a functional, and practical car: at that time it was the Buick. Most did not live inn the most expensive house.
This was a surprise because to be a millionaire literally means you can go out and borrow a million dollars, and not really own anything.
For example, I just bought a business building from the landlord that once rented the property. The building is now an asset, so I now have a higher net worth: but, I still have to pay for the building that I once rented. The net worth includes what we paid as a down payment plus the amount the bank loaned us to purchase the building. The net worth went up, but the amount owed when way up too. The rent now mainly goes for taxes and interest on the loan. Who really owns the property, the bank. We own the building so we are not going to kick ourselves out, and as long as the bank gets paid: they are happy.
