Money is even more insidious than material possessions. With cars, boats, houses etc., we can plausibly say, that there's a cost of ownership... insurance, maintenance, storage. And there's the ostentatiousness of display. So, a person wants to be more modest, or to look more modest, or in any case to have fewer logistical challenges. Then what? Then instead of buying the cars, boats or houses, the money stays invested at Vanguard. Nobody knows about it, save for the owner or a few intimates. There are no insurance costs, no maintenance, no costs at all - other than taxes on the annual distributions or capital gains. Thus it's easy to believe, to convince ourselves, that we're modest and diffident and humble. But that's a ruse and a self-deception! Thus the insidiousness. Sure, the holdings in VTI or whatever aren't moored in a marina. They don't rise to 2 stories in brick, set-back on a manicured lawn in the fanciest neighborhood. They don't have a loud exhaust, or gleaming rims, or a sensuous long hood. They're hidden... but they're not hidden from personal consciousness. On the contrary, they're more personally obtrusive than any "peacocking" outward display.I'm reminded of the following quote: "the things you own, own you." I believe this is true to a degree, even with money. At the same time though, I sure do wish I had more money.
Statistics: Posted by unwitting_gulag — Sun Feb 09, 2025 11:44 pm — Replies 83 — Views 7811