I expose the truth 5 luxury "status symbols". These items may look impressive, but they don’t offer any real value or happiness. They are just a way to show off your ego and waste your hard-earned money. Chapters: 00:00 Intro 00:13 Luxury Watches 00:52 Supercars 01:23 Designer Clothes 01:50 Luxury Yachts 02:20 Private Jets Transcript: Are you tired of seeing celebrities and influencers flaunting their expensive possessions on social media? Do you ever wonder if they’re really worth it? Well, I’m here to tell you that they’re not. In fact, these five status symbols are simply a waste of money, and I’m going to tell you why. Luxury Watches It used to be that a wristwatch was one of the only ways you could tell the time, but now, in the age of smartphones and smartwatches, the function of a luxury watch is nothing more than to just sit there and look pretty. Luxury watches can cost thousands or even millions of dollars, but they don’t offer any additional benefits or features that a cheaper watch can’t provide. In fact, some luxury watches are so delicate and complicated that they require frequent maintenance and repairs, which adds to the cost. Luxury watches are also very prone to theft, damage, and loss. According to a report by the FBI, in 2023, there were over 10,000 cases of stolen or lost luxury watches in the US alone. Supercars Here's the thing: Pretty much every road has a speed limit. If you're going to be a law abiding citizen, you don't need a car that can accelate to 200mph in a matter of seconds. Supercars are not only expensive to buy, but also to maintain, insure, and fuel. They have high emissions and low mileage, which is bad for the environment. They are also impractical and uncomfortable for everyday use. They have limited space, low ground clearance, and stiff suspension. Supercars are not a convenient or sensible way to get around, but rather a show-off of ego. Designer Clothes Do you think that wearing designer clothes will make you look more fashionable and attractive? Maybe they will, maybe they won't. But to be honest... most people don't even notice or care what brand you’re wearing. Designer clothes are often overpriced and overhyped, and chances are that they're less practical and durable than alternatives. Also, the world of fashion changes all the time. The need to constantly keep refreshing your wardrobe is simply not worth it. You're not expressing yourself, you're making a fool of yourself. Luxury Yachts "The two best days in a boat owners life are The day they buy the boat and the day they sell the boat" and that's just boats, we're talking about gigantic yachts! Of course there's the usual insurance, maintenance and docking fees, but unless you can captain that thing you're going to need some staff too! They have high fuel consumption, environmental impact, and tough legal requirements. They're also very difficult to navigate in bad weather or unfamiliar waters. You might as well go find a fire and just start shovelling your money into it. Private Jets It seems like the ultimate status symbol, right? It’s actually a huge hassle and a huge risk. Private jets are not only super costly to own, operate, and maintain, but also to fly They are also a lot less safe and secure than commercial flights, as they're far more vulnerable to accidents, hijackings, and terrorism. Is all that extra hassle really worth it? Tags: #illustratedfinance #finance #personalfinance #money #economics #wealth #rich #status #celebrities #advice #list #interesting #opinion #privatejet #privateyacht

• published: 05 Feb 2024
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