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  • Property-a-holics

    Car or house ? Hmmmmmm

    ``I think for the most part we are talking about people that have established themselves``

    That was one of your assumptions. I personally was talking about all people from 18 - 85

    Defining people who have established themselves is impossible as its so subjective

    Also  you assume  spending 40K on a car is luxury .

    For  a lot maybe  yes  but certainly not for all . 

    As I said delayed gratification can be enjoyed in its own right as a gratification

    Once you get rid of the affluenza condition, money and possessions take on a different meaning

    So I waste money on some stuff and wont spend a penny on others

    Critics will be everywhere whatever you do

    Private schooling , expensive holidays, the clothes you wear are common targets as well as cars

    Many a 90 yr old I`ve met can  afford stuff but they choose not to spend it on that stuff

    They have long got past the consumer addiction and it holds no interest for them

    Back to basics with them . Health, warmth, food , drink , shelter , family

    Babies just need the basics too.

    We get lost somehow in the in between years

    Work  means of course different things to different people 

    To clarify  - I gave up working  in a traditional job years ago - So I don`t have a boss now who controls me

    I don`t have to work anymore but I choose to because I get paid for it or I save paying someone

    I could delegate 99% so I have only 15 mins per day involvement but I choose not to

    Its the  choice though which is crucially important

    Many people who are financially free still choose to work but class it more as a hobby

    Warren Buffet,  Richard Branson etc . Billionaires still `work` because they enjoy it

    Making money can be classed as a hobby / pastime / sport  just as much as rugby is

    The picture is blurred and unfathomable for some because the majority  work to earn money

    The buzz though can be more the deal and the excitement and the focus rather than the money itself

    Alex Ferguson still turns up to watch Man U long after he left employment there

    If you are financially free you will have a better understanding of peoples motivations





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    Jonathan Clarke. http://www.buytoletmk.com

    ``I think for the most part we are talking about people that have established themselves``  That wasn't an assumption but an interpretation of the various comments of the OP, defining what being established means is subjective but if the person feels they have sufficient income to meet their needs and can afford a relatively expensive car then I think most people would agree they are financially established.

    I hadn't realised that the advice on buying a car or using the money as deposit on a house had been opened up to all in the age range of 18 - 85 but had expected the comments to relate to the OP,  that said as I commented in my previous post - you can buy a new car from about £10k and if the purchase price is relative to income then the purchase of a new car may make sense, it isn't necessarily a treat or a luxury.

    I can't agree with your definition of stopped working, you either work for financial gain or you don't, choosing to work for financial gain even though you don't need to is still work.

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    Doh Essex you are being your usual hard `work` to debate with .

    Its so often a contrary  view just splitting hairs -

    Often for the sake of it I feel

    And as I`m not getting paid for it   I will leave it there for now - Thanks


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    Jonathan Clarke. http://www.buytoletmk.com

    Not at all, just a different view to yours.

    Also happy to leave it there.

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    Don't worry JC, we've all been there before ;->

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    Its so often a contrary  view just splitting hairs -  Often for the sake of it I feel

    Exactly like you do then hahaha !!!

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    Car: 

    1. Depreciating asset

    2. Costs income

    Property 

    1. Appreciating asset 

    2. Generates income

    This is the point where you either become a consumer or an producer.

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    Rich dad poor dad 101

    But there comes a point where those appreciating assets have to buy some depreciating assets - as you usually find they are the fun ones Smile

    Done right though - through low interest borrowing - you can have both!

    Like I said - pay £60k on a car = bad

    But £900pm on a car (worth £60k) - being paid for by the £60k put into BTL = good. Got the car, got 2 property paying for car, and going up in value (hopefully!)

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    But there comes a point where those appreciating assets have to buy some depreciating assets - as you usually find they are the fun ones Smile

    So true, I like that comment

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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson

    As the old saying goes " If you don't travel First Class, your children will"

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