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Money and Finances
Reply to "Your income, HHI, and spending on “luxuries”"
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[quote=Anonymous]Our HHI is around 800K. I think it's important to realize that certain luxury brands hold their value or go up in value, so I treat these as investments not as expenses. For jewelry, Van Cleef and Cartier hold their value very well. For bags, the classic Chanel flap bag and the Hermes Birkin (if you can get your hands on a new one) have appreciated at the same rate as the S&P 500. So it depends... would I "waste" $2500 on a Gucci or YSL bag that will lose more than half its value in a year? probably not, but I will save up for a small piece of Van Cleef jewelry for $5000. The former is an expense, the latter is an asset. [/quote]
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