Just so you know, your kids will never say, "Remember when dad invested another $1000 in to an index based mutual fund."I would invest it an index based mutual fund, but I think you idea of investing is different than mine
LOL! Not Bragging, but I did retire a little early and am spending their inheritance ( some of it at least). And you know what, they are fine with that as they and the grandsons get to go with me when explore!My kids might when it means I retire early or they get a bigger inheritance.
Here I thought you wanted to invest money for earnings. Instead you want to burn money on a depreciating asset.Hi all. I'm fairly new to the off-road world and recently bought a 2021 JLUR with the 2.0L engine. I installed the Mopar 2" lift and have 35" Falken MT tires. I'm wondering what other Rubicon owners would do first if they had another $1,000 or $2,000 to invest. So many options! I plan on doing trails in Arizona (such as Schnebly Hill Road & Broken Arrow which I've already done) and possibly Moab in 2021. I appreciate your thoughts and guidance!
No problem. I assumed that using "invest" would have some questioning the post. But I define "profit" mostly the same as you, but I and my family also "profit" by being able to spend some high quality time together doing something we all enjoy! Enhancing our Rubicon helps enhance our experiences together. To me, that is an investment in my family! Thanks for hearing me out as well.Here I thought you wanted to invest money for earnings. Instead you want to burn money on a depreciating asset.
God marketing people have a handle on the mind of so many from an age so young.
Invest: expend money with the expectation of achieving a profit.
Spend: pay out (money) in buying goods or services.
Profit: a financial gain, especially the difference between the amount earned and the amount invested.
--Store: Save $5 on this t-shirt.
--Reality: SPEND $5 less on this t-shirt.
Saving would be a net increase of $5 to your amount of cash on hand not a net decrease of $5 less had you paid (spent) full asking price.
Don't get me wrong, I'm going to blow some money on a couple of accessories, but one's I'll use. Bike rack, phone holder, cargo mats, and some door sill guards and a fun tire cover.
I'll see myself out now, thanks for listening to my financial rant.
I retired on my 51st birthday and have been retired for 2 1/2 years and not spent any of my investments. I found that if you raise your kids right, and teach them how to be financially independent, it will not matter nor will they care if you plan to pass on an inheritance to them. I plan to leave each one of my kids a good chunk, yet they both invest into their own retirement and make no plans on having my money as an part of their investment strategy.My kids might when it means I retire early or they get a bigger inheritance.
Investing in your family is never a bad idea. My boys are in their late twenties and early thirties. They call and talk to me several times a week. While they live all over the world, we still travel or they travel so we can see each other. There is nothing cooler than a 30 year old son that just call because they have 5 minutes to bullshit and you are the one they call.No problem. I assumed that using "invest" would have some questioning the post. But I define "profit" mostly the same as you, but I and my family also "profit" by being able to spend some high quality time together doing something we all enjoy! Enhancing our Rubicon helps enhance our experiences together. To me, that is an investment in my family! Thanks for hearing me out as well.
That's not an investment, that is just spending. Don't pretend it's something it isn't.I consider putting money into my Jeep so my family and I can get out and enjoy the world like relatively few others an investment into living and well-being.