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This seems to be the antithesis of the lesson taught in Rich Dad Poor Dad. Stuff is a liability. Even in "owning" it you're still beholden to it. You have to
by daxfohl 8y ago
This seems to be the antithesis of the lesson taught in Rich Dad Poor Dad. Stuff is a liability. Even in "owning" it you're still beholden to it. You have to maintain it, store it, protect it, make sure nobody injures themselves with it and sues you. You don't own it, it owns you. Rental, in many areas, is an improvement. Own the couple things that matter to you, rent the rest.
Perhaps it's not so much that Americans own less stuff, but rather the supply of stuff has grown so much that we became overwhelmed with too much ownership and have resorted to rents on more and more of those items by percentage.
Cellphones are an interesting side point, as they don't fully fit into either classification (own or rent). They kind of take on the worst of both. In fact, perhaps there's a market for a phone that's more purely "rent". Given the state of technology and the speed of change, I don't know if there's any real market for a purely "own" phone, unless it's like an ultra-secure dumb phone, in which case yeah there's probably a market for that too.
- PTPells 8y agoYour stuff owning you...neat inversion. For you personally, what questions do you ask yourself when deciding whether to "rent" or "buy" something? How have those questions changed with time?
- jpindar 8y agoI own the hardware of my phone, and it would still be useful to me if I decided not to pay for cell service. I suppose Google could force push an Android update that would brick it, but is it likely that they'd do that? And would that keep me from flashing new firmware?