One of the topics I’ve long been interested in is personal finance, investing, and growing my personal wealth – while advancing my career.
My goal is not just short term – camping, traveling, and weekends in the wilderness – but eventually that off-grid homestead in a free state where I can burn whatever I want and own whatever guns I want without government permission. Have livestock without government agents telling my I’m not raising them right way or that my hog shit smells like pig shit. Yes, there may be an occasional wift of burn plastic on my homestead but at least it’s not going to the mound on outskirts of the city.
Still this all triggers me in the wrong kind of way, as I see yet another article about the importance of a responsible individual getting the cheapest used car as possible, as expensive cars ruin personal finance. They also suggest buying a house as soon as possible, as renting in ruinous for finances. Oh you rent that dumpy apartment and have a nice truck? You must be living paycheck to paycheck. Don’t even get me started on the people who think because I don’t currently have an operating vehicle, living in city riding my bike everywhere, I must be some kind of truly poor desprate individual and not be actually relatively wealthy or be middle management.
I am not arguing that a car loan is generally a bad decision, unless it’s absolutely necessary. I abhor debt of all kinds. For a lot of families, and those needing a full-sized house, then definately buying a house is a real money saver over the long-term. But a one-room apartment on the bus line and close to bike path, where you can ride your bike to work also is a real money saver. I also don’t disagree that many renters are financially irresponsible and don’t put their modest savings by renting back into investments. But I do. And I’ve been doing that for going on 20 years now, and with the strong markets, things have grown into the seven digits. I also have 20 years plus into the State Pension system and more then half of my investments are in tax-advantaged retirement accounts. I will be able to buy that homestead when I retire – I know looking at the Christman Associates listings and New York Land Quest, rural land with modest, especially off-grid cabins are very affordable relative my investments and savings.
Still I can’t help but feel awful every time I see another post with the boosters of homeownership and praising the virtues of used, basic automobiles. But I don’t use my truck for my commuting, I use it for recreation and camping. I have my bike to get around town, and indeed in recent years a great recent of my shopping is done using the bike. If I didn’t care about traveling, I think I would me more then happy with not getting another truck any time soon. I hate driving in city and dealing with traffic. And a lifted truck and a certainly a SuperDuty guzzles gas and is hard to maneuver in traffic. Yet, I can’t help to but be triggered every time I see a post advocating purchasing a used car, and homeownership over renting. Owning a home is great if you enjoy mowing your lawn or painting your house and calling furnace repairman – and paying electric and gas bill for energy guzzling buildings – but I enjoy the low cost of my very basic apartment.
Maybe because I live so below my means in my very basic apartment of 18 1/2 years now, first rented when I was out of college, or I ride my bike to work and take public transit, I am so enamored by financial advice that is mostly tailored for those who are just starting out on my journey. Good advice for those getting started, who make far less then I do these days, and have families and other priorities. Used cars are great if you want basic transportation to drive aound the city, but don’t really provide the capacity I want for getting to remote back country, camping and traveling. Could I live with less on the transportation front? Of course. I don’t really need a truck at all, still, I want one, and it’s one little nice excess in life when everything else I do is so frugal and aimed towards building a better tomorrow.
Still, I feel so bitten and attacked by the financial advice I keep seeing on the internet, that trends in my feeds and should me feel like maybe I shouldn’t buy the damn truck, and that I should run out and buy a vinyl clad suburban house, as it’s a good investment.