TurtlePaul
Major Contributor
It is tough to talk about audio pricing because of income and wealth inequality. People buying $20k speakers are likely a mix of people all along the spectrum from people taking personal consumer debt to buy them to people with $1 million+ income/$25 million+ net worth who don't even notice the payment deducted from their account.I read Bogle's book and adopted his financial philosophy way back in my 20s. Highly recommended for anyone needing investment guidance. ASR readers will really appreciate Bogle's thinking and data. But making the psychological shift to spending is one I am actively working on as I just retired earlier this year. There's the logic of, oh, I can buy that and it will make absolutely no material difference to our daily lives financially and then there is the decades old practice of being reasonable and valued conscious! Not automatic to undo the latter.
I am upgrading my amp from a Fosi v3 stereo to a e3 Audio A7 for my Revel F206 speakers. I had to think to pull the trigger, I told my wife. "Will is sound better? Almost certainly won't be perceptible." Then I did the math and the financial impact of the $250 amp is a grand total of one days interest from my bond portfolio.
My mother is now semi-retired (her old company keeps her part-time as a consultant). She is also facing the similar "issue" that the mortgage will be paid off in a few months and she will have a six-figure retirement income between pensions, RMDs, her Social Security, an old annuity, my father's survivors benefit, etc.