The Importance of Dumping Depreciating Assets

If you are aiming for FIRE, reducing expenses and increasing income is the main factor of hastening your goal. However, expenses come in many forms. One is the depreciating value of all the assets that you hold. This includes consumer electronic products, cars, and things you buy in general. The more that you hold, the larger the total drain from your net worth. Minimizing this can then allow you to accumulate wealth that much faster.

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[harnessmoney]

So many great points in this video. Limit the number of things you have to touch on a daily basis. Less to take care of. Dump junk as quickly as possible that is depreciate and that you do not need. Buy more assets that will increase in value. Like signed CDs, rare legos, Pokemon cards, real estate etc. Spend more money on life experiences.

[williamburkhead]

BTB, I like the new set. Looks cool and I feel like it's you. Good job.

[rssand]

So used to seeing BTB in his living room. My mind kept wondering why there's a giant tool box in the living room. lol

[gwentchamp]

I had an old Blu-Ray player that I bought new for about $200 many years ago. I recently sold it for $18 on eBay 😥

[Thechriskraft]

This is the name of the game. Nothing like owning a good item, using it for a year then selling to then adding a few hundred to own the top tier thing.

[Leah.Garrison]

once I switched to trying to save money; I have been selling items I don't use any more (and return things I shouldn't have bought!)

[GurtGobain]

It's not worth me haggling with people on Craigslist or Facebook Marketplace wondering if they will show up or not. But maybe I will take a month and list a ton of old stuff on eBay and take it to the post office in a few trips.

[ReachingTheFinishLine]

Practical Psychology brought me here. I just subscribed!
Good video! I prefer to buy things and use them until they die as a digital nomad. I never really cared about having the newest thing as it doesn't add any extra value to my mobile lifestyle. Using an item until it dies is getting the maximum value unless the features of the new product will really make one's life more convenient.

[BlackFlashDrive]

This is why I'm subbed. This is so deep into savings thinking, it's insane lol

[chandanpujapanda]

The video triggered me to sell many items including my boat. Thank you

[jlb]

Keep it up and hope you get better soon!

[chrisaustralianfinance]

Makes sense. The less you own the lower your burn rate. A decent argument for minimalism.

[SophiepTran]

No brand new Iphone or Samsung flagship smartphone here. I take into account what I need and for that kind of device, a Samsung A20 bought 3 years ago works fine and is still going strong. Not replacing it until it breaks or no longer works due to planned obsolescence. Just like most of my belongings. Maybe taking that attitude would benefit many with the mental gymnastics required to do more with less. Which means having less depreciating liabilities. The term assets, I reserve for things that grow or maintain its value. Just don't buy stuff you don't need and if you haven't used it in a year, maybe you don't need it.

[slchance]

i buy used hi-end stuff to devastating effect:

I bought a used saddleback leather briefcase for $420 (retail $900).
Sold it 2 years later for $400.
Bought another one in a different color right away for $440.

Did this one more time. Kept the last one for 7 years now.
Priced it on ebay (not selling)...selling price: $450.

Overall, I've spent maybe $60 over 12 years and walk around with nearly a thousand dollars worth of high end briefcase for work.

[RalphHenryxx]

I don’t know where you are but I do like this current backdrop 🤞🏾

[angelikalaser]

When I read depreciating assets I thought about my dropping etfs and bitcoin 😅 oh you did not mean that

[theforeignerinamerica]

The only depreciative asset is your car and you NEED IT to live. Just pay it cash.

[RBLXGaming]

The consumer products you talk about here are not "assets." They are just electronic products.

[Californiansurfer]

I have a lab at home were i do my electronic projects. Please give us a tour of your lab. I cleaned out my lab which I placed all cat-5 wire and misciluens wires which i made boundless. I stored hardware at warehouse which I might need it.. I do my best.. I also do security cameras which old cameras are obsolete, i still am holding on, why why. Need your help…..I also have old computer towers why do I hold to them. I use an ipad today….

[jamisonm]

The biggest depreciating assets are those common expensive cars, and dogecoin