Opinion: Financial Independence has nothing to do with being a millionare

[LRDave]

The writer makes me think of the first sentence of "The Shining" (the book, not the movie). I can't repeat it here, but it's out there, if you want to google it.

I had forgotten, so I looked it up.

 

[The Cosmic Avenger]

Yes, but it's incredibly common. IMO one of the triumphs of late 20th-century marketing was to convince people to wear clothes advertising the supplier and to pay extra for the privilege.

I once astonished a shoe salesman by saying that liked the shoes but would not buy them because they displayed too much advertising.

I actually told a car dealership that their nameplate on the back of the car was not part of our deal, and he'd need to knock $500 off the price if he wanted me to drive around advertising his dealership! (This was back in the days before no-haggle dealerships.) He turned about 3 shades of red, but then delivered the car to us without the nameplate (which is really what I wanted more than the discount; I had already haggled him down to below invoice).

Salespitch by a former Lehman Bros. ETF trader. Of COURSE he hates the Millionaire Next Door. It doesn't allow him to feel good about himself!

Of course! If any schmoe can do it, why would anyone pay him 3% plus commission to manage their money?

 

[Mdlerth]

It is to laugh!

...On 2nd thoughts, conspicuous consumption is not about whether the buyer of an item can afford it or not. It's about showing other people your Hermès bag with a price tag of $50K, while not caring how that bag is different than another Hermès bag costing merely $20K. The price that you pay for something is what is important.

One of my favorite aspects of this forum is the posts introducing me to products I had no idea existed. Some, such as RobbieB's discussions about wagyu and truffles and cognacs, inspire me to take notes so that I can explore them myself.

Others, like ones featuring purses costing more than cars - or even houses - prompt me to chuckle at the unending silliness of homo sapiens.

Having never heard of Hermes (the line of leather goods, not the Greek god) before, I had to look it up and read why a mere handheld carryall would command such ludicrous prices. Not surprisingly, I found the justification less than compelling. I can't imagine me (or even DW) buying one even if we were billionaires.

But I can well imagine celebrities clawing each other to pieces over one. And that mental picture makes me smile.

 

[Scout]

Probably already been said, but it seems like it’s the reverse. People who are confident don’t feel a need to decorate themselves in expensive clothing and trinkets. Sure, some folks may need to do this for their job or some other reason, but that’s my point....if you feel totally confident to approach the world with the Target outfit of the day that by definition is a healthy self esteem.

 

[Music Lover]

I was at Costco over the weekend and they had tables and tables of shorts, ALL of them cargo shorts with those extra pockets. You can indeed stuff no end of cargo in those pockets.

Cargo shorts are purses for men

 

[marko]

I'm a great believer in the Cosmic 2 X 4..........

Gee....that mail truck has been in the driveway a looooong time.

 

[NW-Bound]

I happened to walk by a Hermès store recently and look into their window displays, hence remembered to use their bags as an example of conspicuous consumption.

On the Web, there are talks of bags costing millions of dollar, but I suspect these are asking prices with no buyers yet. Supposedly, the most expensive Hermès bag ever sold was at the price of $379K.

The above bag is made of crocodile skin, but of a white color. It's because the donor crocodile is albino! I did not even know there was such a thing.

Now, I can see why the bag costs so much.

PS. Hmmm... I wonder how many of these Niloticus Himalayan Birkin bags they can make from an albino crocodile.

 

[NW-Bound]

$379K too much for you, and drives up your WR too high? The price was at an auction in 2017.

Would you mind a 10-year-old secondhand bag of mint condition?

Someone paid £162,500 ($217,144) for it at an auction in London in 2018.

PS. Don't go look for these secondhand bags at Goodwill.

 

[W2R]

$379K too much for you, and drives up your WR too high? The price was at an auction in 2017.

Would you mind a 10-year-old secondhand bag of mint condition?

Someone paid £162,500 ($217,144) for it at an auction in London in 2018.

PS. Don't go look for these secondhand bags at Goodwill.

You know, if I saw that secondhand bag at Goodwill I wouldn't pay $4 for it. Doesn't do a thing for me.

If you go to the Hermes website and look at their products, it is easy to imagine that you are seeing them at Target for Target prices. They don't look nearly as desirable when thinking of them that way.

 

[Mdlerth]

Made of genuine albino canvas

You can buy 10,000 of these for the same dough. It performs exactly the same two functions: 1) holds stuff 2) tells people about your values.

 

[W2R]

You can buy 10,000 of these for the same dough. It performs exactly the same two functions: 1) holds stuff 2) tells people about your values.

This one cost $34.95 back in 2014 and I guess it does those same two things. It's practical, durable, and still looks good as new. This is IT for me; I don't ever want another bag, especially not one of those ugly Hermes bags for over $100K.

 

[NW-Bound]

You can buy 10,000 of these for the same dough. It performs exactly the same two functions: 1) holds stuff 2) tells people about your values.

I don't think I would pay that much for these Hermes bags even if I were a billionaire. But I would not call them ugly.

About your NPR canvas bag, you and I do not mind using it to carry "stuff", but does your wife agree to that? To take it to a formal dinner party or a wedding reception?

Ah, come on! My wife is quite down-to-earth and spends much less than I do, but she still has some leather bags to use.

 

[The Cosmic Avenger]

This one cost $34.95 back in 2014 and I guess it does those same two things. It's practical, durable, and still looks good as new. This is IT for me; I don't ever want another bag, especially not one of those ugly Hermes bags for over $100K.

I think I got my partner the same one! Does that have that slash-proof metal cable running through the shoulder strap? It makes a great travel satchel!

 

[W2R]

I think I got my partner the same one! Does that have that slash-proof metal cable running through the shoulder strap? It makes a great travel satchel!

Best one ever! Good choice on your part. I don't travel but love it for my daily life here in New Orleans. I don't think it has that cable, but even without it the shoulder strap is probably too thick and strong to easily slash with a razor blade. I especially love the sturdy tether with clip, for keys (and wallet, in my case, after losing my wallet a few years back - - never again).

 

[Winemaker]

Last year while killing time before a destination wedding, DW and I walked around the shops on Rodeo Drive. While I won't purchase anything in any of the stores, it gave real insight to me on how the 0.01% live. When I asked on of the salesman who trailed us from the moment we walked in the door if they were busy, he said no. But he did say that all it took was one Russian oligarch to make his weekly sales quota. The armed guards at the entrance ways, and the buttheads sitting on the sofas whilst salesclerks were fussing over them like ants at a picnic, was a sight to behold.

 

[Sunset]

I happened to walk by a Hermès store recently and look into their window displays, hence remembered to use their bags as an example of conspicuous consumption.

....

The above bag is made of crocodile skin, but of a white color. It's because the donor crocodile is albino! I did not even know there was such a thing.

Now, I can see why the bag costs so much.

PS. Hmmm... I wonder how many of these Niloticus Himalayan Birkin bags they can make from an albino crocodile.

I saw an albino croc in the zoo many years ago, I think it was in Tampa FL.

You could probably get quite a few bags out of 1 croc.

Nothing like carrying around the dead skin of a rare creature to show the world how sensitive you are to nature.

 

[Badger]

OK. I admit that I didn't read the article. I only read the quote. I could afford to buy expensive clothes (now) but I'm not interested and I don't have too. I have plenty of shirts still in the package and a few nice dress slacks that I haven't worn yet. But I have about 8 nice like brand new sports coats from well respected manufactures that I got from eBay for $15-$20 . I also have a complete custom tailored 8 yard Scottish dress kilt and Prince Charlie jacket with all accessories made by an internationally respected tailor that cost over $2,000. Big Deal! I imagine the author would have a coronary at my clothes selection.

That being said I mostly wear t-shirts, shorts, and sandals anyway. I don't care what the author thinks but it sounds like he is trying to keep up with the Jones. I really don't think much of his opinion and really don't give a rat's fuzzy, fat, fanny.


Cheers!

 

[Mdlerth]

A man's sole purpose is Beast of Burden

About your NPR canvas bag, you and I do not mind using it to carry "stuff", but does your wife agree to that? To take it to a formal dinner party or a wedding reception?

Ah, come on! My wife is quite down-to-earth and spends much less than I do, but she still has some leather bags to use.

The Wikipedia entry indicates the bag originated when an actress named Jane Birkin complained about being able to find a suitable carry-on tote to hold all the items she needed for a weekend.

Granted, for dressy occasions DW has some small leather clutches. Anything she needs that won't fit, well, that's why I'm there; my tux has pockets. I sometimes think that the only reason women keep men around is to lug their paraphernalia.

 

[Jeffman52]

I read the article and all I could think was "What a maroon!"

The reason so many people never retire or their retirement is a failure and they have to go back to w**rk is all the things this guy talks about. There will always be more crap to buy than you have money to buy it. I mean, just how many Chinese made trinkets do you need? I have to say, the more money I save and invest, the less I find the desire for "stuff" and the more my desire is for experiences and lasting memories. (OK... the older I get the more I find that "lasting" should ever be next to "memories" )

The article author = MO-RON... Clean as I could get it.

 

[Souschef]

Only those with a low WR.


PS. On 2nd thoughts, conspicuous consumption is not about whether the buyer of an item can afford it or not. It's about showing other people your Hermès bag with a price tag of $50K, while not caring how that bag is different than another Hermès bag costing merely $20K. The price that you pay for something is what is important.

DW broke down and bought a Coach bag at the Outlet Store. We have a running joke about putting it on the table or elsewhere to make sure the logo shows

 

[Moemg]

I bought a coach purse a few years ago and I am amazed at how well it has held up with daily use . It is the best purse I ever had and it was only $160. A few years ago my hairdresser asked me to sell two of her used Louie Vuitton purses . The one purse looked like brand new despite daily wear for ten years . It sold for $850. $180 is my top limit for purses but some women just really like them . It is no different than buying expensive beef , liquor , or expensive electronic gadgets .

 

[NW-Bound]

The Wikipedia entry indicates the bag originated when an actress named Jane Birkin complained about being able to find a suitable carry-on tote to hold all the items she needed for a weekend...

You researched this a bit further than I did.

But the name Jane Birkin rang a bell. Could that be the actress that co-starred with Alain Delon in the thriller-drama movie La Piscine (The Swimming Pool - 1969) that I knew back in my teenage years?

Yes, she is the one.

 

[Midpack]

It’s another clickbait- puff piece.

There are many Americans who waste money on stuff, that doesn’t mean some stuff can’t enhance your life. And what stuff is important to each of us varies, whether it’s clothes, cars, art pieces, or whatever else.

Experiences have a place in enhancing life too, that most stuff just can’t - e.g. the sensation of standing at Niagara Falls, the Grand Canyon, Half Dome, etc. can’t be duplicated in my view, pictures can remind you of the experience but they aren’t a substitute.

I think the point is those who buy more and more stuff and still feel unsatisfied (don’t we all know some people like that?) might want to add experiences to the mix too. My 2 cents...

 

[Souschef]

. It is no different than buying expensive beef , liquor , or expensive electronic gadgets .

I am sorry, but I disagree. The three items you mention are for personal enjoyment, while a Birkin bag being carried outside to show off how much the spent on a handbag

 

[Moemg]

I am sorry, but I disagree. The three items you mention are for personal enjoyment, while a Birkin bag being carried outside to show off how much the spent on a handbag

I agree . I think I limited my purse budget to $180 and those bags are a lot more than that . My point was that decent leather purses last and hold their value. Sorry if it came out wrong .