“Buying a new car is exciting. There is so much choice, so many colors, body styles, engines and brands to choose from. Your budget helps narrow the choices substantially. Some brands will resonate; others will be a real turn off while practical stuff like four doors or two, work needs, number of children, hobbies and lifestyle will all have to be factored in.Then there are test drives and the haggling about price and options.
Make no mistake buying a new car is a serious financial decision – but it is also fun -even if you realise that the day you drive out the showroom door in your shiny new car you just took a depreciation hit the likes of which would you cause you sleepless nights if it happened to your investment portfolio.
If you have bought a new car in the recent past think about how much time you invested in the process.
Now think about how much time you would spend buying a new super fund.”
…the above is an excerpt from an interesting article by Robin Bowerman of Vanguard Investments (Australia). Continue reading here…
Robin makes an excellent observation. It’s a real paradox the amount of time that most of us spent taking care of growing our finances compared with spending them. (I’m also reminded a little of the way we are using our precious environmental resources like trees. But I digress…)
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