Wearing and driving your wealthI've read bunches of books over time on business. Many of those books were dealing with accumulating wealth. When I walk through a parking lot and spot high priced luxury vehicles, I wonder on a couple of points.
High priced luxury vehicles, who drives them and why? If I were working for a big corporation, would my choice of vehicle improve my chances of promotion? I suppose that depends on what job I currently occupy. For the most part, I would expect not.
High priced jewelry. I remember casually spotting a premium priced watch on a supervisor with a price tag I knew to be in the range of a nice dependable used car. Again, why?
I suppose if I'm selling and working with people who must live up to a certain lifestyle, I might consider those type of expenditures. I doubt it but I might.
What happens when the job ends suddenly and you're stuck with the payments on those pricey choices? How about the impact it makes on a new employer? Will the car you get into after the interview and expensive watch on your wrist be a clincher for you? Again, I doubt it.
If it makes you happy and you can afford it then enjoy the fruits of your efforts. However, if you are using those status symbols to get to the next level, I would recommend you pass.
I am a CPA in San Antonio and provide bookkeeping, payroll, taxes and more. We offer a free initial visit and look forward to serving your business needs.
Richard J. Garcia | 05/12/2011