4 ms·
$50/$500 is a 10%/year yield, which is hard come by in any guaranteed investment. The Crocs will likely have no retained value, while the $500 shoes may be wort
by benmanns 3y ago
$50/$500 is a 10%/year yield, which is hard come by in any guaranteed investment. The Crocs will likely have no retained value, while the $500 shoes may be worth something after 10 years.
However, that ignores the cost of maintaining a nice pair of shoes (both money and time) as one needs to clean, polish, and resole every so often.
You might want shoes in two or three colors/styles, which would make the Crocs last 2-3x longer, same for the other shoes, but are you really going to want the same expensive shoes in 30 years?
I think the higher end stuff that retains value and requires less maintenance might be a better example, like if someone is good at buying watches they could get a Rolex that appreciates in value and ends up costing them nothing vs a series of cheaper watches. Or compare to a $500 Apple Watch you replace every couple years. I don’t wear watches, though, and I’m not good at buying or selling them.
Really, I think there are some expensive, durable goods that last longer and are cheaper you might think, but still more expensive once you take into account the maintenance and time value of money. But nice stuff is nice to have, and it’s helpful that you don’t have to replace it so often.
- nerdchum 3y agoOh completely agree. My beef is with this smug patronizing attitude rich people have like theyre wise for buying expensive things that will last longer and the rest of us peons should learn from these wise sages. When thats not the case at all. You want to learn how to buy quality things look at a middle class family of four wearing big old granny Kirkland panties and driving a Subaru. Their overhead on purchases is low AND their returns are high.
- deleted 3y ago[deleted]
- mathgeek 3y ago> The Crocs will likely have no retained value, while the $500 shoes may be worth something after 10 years. This is the core of the “secret” to wearing high quality shoes at a low cost. Buy good used shoes and get them resoled as necessary. E.g. https://www.reddit.com/r/malefashionadvice/comments/1jhp8o/a_ridiculously_comprehensive_guide_to_buying_used/ https://www.reddit.com/r/malefashionadvice/comments/1jhp8o/a...
- nerdchum 3y agoI did that for a while. Resoling is $150 or more which is more than a normal pair of shoes costs.
- guidoism 3y agoA Rolex still requires very expensive maintenance every couple years (hundreds of dollars) just to do basic timekeeping. Absurdly, an Apple Watch upgraded every 4 years is probably cheaper to maintain. A high quality quartz is probably the financially smart option.