RE: Lottery question for Rob

All the stuff you buy ends up owning you, because you have to take care of it, insure it, service it, worry about it …From robjh22

Damn straight, right there.

We built our house a little over 20 years ago. And the truth is, we should move. At the time we built it, all the kids were at home and we actually needed six bedrooms. Now I’ve got four bedrooms sitting empty. And two bathrooms that are almost never used.

But Angie says we’re not moving. And I tend to agree. The only real downside to this place is even though we own it, we don’t really own it: For what we spend on property taxes, we could rent a modest apartment.

But as the brood of grandkids continues to expand, it feels like it sort of makes sense to keep it as something of an “entertaining hub”.


On the more general question of “stuff”, it took me far too long in life to really grok that a small number of valuable things (defining “valuable” according to whatever mechanism works for you) is infinitely preferable to a large number of meaningless things.


Makes me think of a comment I heard Charlie Munger make vis-a-vis investment diversification. He doesn’t believe in it. His comment was something like “Suppose you have five opportunities in front of you, and you like them all, but you also have them ranked from ‘most liked’ to ‘least liked’. Why would you ever buy anything other than the one you like most? Isn’t the rational decision to buy as much of the one you like the most as you can before you buy any of the others?”

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