Some Things are Good to Have, but Not to Own
I keep telling my friends and families, “Some things are good to have, but not to own.” I think that this statement can be very helpful when it comes to make most decisions. I will spend more time to find more supporting articles and do more research on this topic.
At this point, I have found an interesting article from Smart Money September 2008 issue called 10 Things Millionaires Won’t Tell You. Point number 8 says,
Why spend $3,000 on a Versace bag that’ll be out of style as soon as next season when you can rent it for $175 a month? For that matter, why blow $250,000 on a Ferrari when for $25,000 it can be yours for a few weekends a year? Clubs that offer “fractional ownership” of jets have been popular for some time, and now the concept has extended to other high-end luxuries like exotic cars and fine art. How hot is the trend? More than 50 percent of millionaires say they plan to rent luxury goods within the next 12 months, according to a survey by Prince & Associates. Handbags topped the list, followed by cars, jewelry, watches and art. Online companies like Bag Borrow or Steal, for example, cater to customers who always want new designer accessories and jewelry, for prices starting at $15 a week.
For Suzanne Garner, a millionaire software engineer in Santa Clara, Calif., owning a $100,000 car didn’t make financial sense (she drives a Mazda Miata). Instead, Garner pays up to $30,000 in annual membership fees to Club Sportiva, a fractional-ownership car club in San Francisco that lets her take out Ferraris, Lamborghinis and other exotic vehicles on weekends. “I’m all about the car,” she says. And so are other people, it seems. While stopped at a light in a Ferrari recently, Garner received a marriage proposal from a guy in a pickup truck. (She declined the offer.).
When you hear of this statement, what comes to your mind? If you are interested to contribute to this topic, please feel free to comment.
