Dave @ Accidental FIRE
I reached financial independence and semi-retired in my mid-40's through hard work, smart living, and investing. This blog chronicles my journey and explores many aspects of personal finance including the psychological and behavioral factors that drive our habits.
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2024 Activity Tracker
Cycling: 4703 Miles
Running: 278 Miles
Hiking: 33 Miles
Paddling: 83 Miles
Climbing Days: 1
2023 Activity Tracker
Cycling: 5400 Miles
Running: 472 Miles
Hiking: 37 Miles
Paddling: 96 Miles
Climbing Days: 6
2022 Activity Tracker
Cycling: 5408 Miles
Running: 321 Miles
Hiking: 43 Miles
Paddling: 40 Miles
Climbing Days: 7
Turnip FIRE! Disclaimer:
Turnip FIRE! is like, real fake news. I mean, there’s fake news that’s meant to be real, and then fake news that’s meant to be fake. The fake news that’s meant to be real is like, actual fake news. Turnip FIRE! is fake fake news…. okay now I’m confused…. Anyhoo, don’t take any Turnip FIRE! stories seriously. Just don’t.
Ideal sucker! I love it.
🙂
out-f’ing-standing! you are a graphical magician.
I know, right? I mean, look at those hand-drawn circles, they’re near perfect. Blogging is fun!
I clued in to spending too much on cars about 6 years ago. They weren’t luxury but always trading up and in every 3 years for a new truck always kept me hugely in vehicle debt. Life has been so much easier since then.
Sounds like you were never a full-on sucker, but on the road to sucker-dom. But now you are a financial sensei.
So true. There are a few people who are so good with money that a luxury car’s extra cost is no more material to them than a meal out on the town. But I think the majority of people who buy those cars are doing it for aspirational reasons and cannot really afford them. I ran a plant that had hundreds of employees and I’d say half of them had way better cars than me, and it kept them from ever being financially independent. You could tell the smart employees. They drove older cars like my wife and I did/do.
Very true Steve, thanks for stopping by dude!
The trouble is, a majority of Americans fall into the center of your Venn Diagram.
I suspect even more would become ‘Ideal Suckers’ if they thought they could qualify for financing on their minimum wage job or their TANF benefits…
Yep, and that’s why the majority of Americans have no hope of getting out of debt or retiring with enough.
Love these!
thanks!
Ideal Sucker — Good one Dave. If only people didn’t equate a fancy car with success, the world would be a much better (and wealthier place).
A car is a tool. A hammer is also a tool. Do I think people care what kind of hammer I own? Absolutely not!
Status symbols are such a joke. Thanks for reminding me!
I have a Jaguar Hammer, it’s stylish and sexy, I paid $2,000 and I love it!!
Apparently, the US military is into status symbols too; it pays $2,000 for hammers.
Don’t forget toilet seats!
What is the Venn Diagram for people who purchase fancy minivans brand new? I did that a few years ago. Poor financial decision most likely, but I do plan on schlepping my family around with it until full autonomy is a thing.
I wonder what the percentage of sales luxury cars that are sold to average joe who is stretching vs paying for it out of passive income. Or even salaries that completely dwarf the cost. A 90k car could still be considered a conservative purchase on a 1MM salary etc. If I had to guess the ratio is probably pretty high.
A minivan serves a purpose, and if you keep it forever it’s probably a worthwhile purchase.
And judging by the debt-to-income ratios in my area (which are horrible) and the sheer number of BMWs, Mercedes, Audis etc, it’s clear most are in debt. But they think they’re impressing others. Strangers mind you…..