Leica is a fine camera, an outstanding tool particularly when you examine the performance of the lenses that are available for it, i certainly would own one under the right set of circumstances, but here's the but, gear doesn't make you money, clients do. The OP is wondering about the camera as an investment offsetting the amount of interest he would pay. I have no doubt collectors can get positive returns, but collecting as a business is a business like any other, and I doubt paying a high 12% monthly compounding interest rate in hopes of offsetting it with simple non compounding annual appreciation is a wise financial move. Even stellar appreciation would soon be a footnote in the world of compound interest. The OP should take note of the difference between them. If the camera doubled in value every year it would still fall behind. Many people think it is apples to apples. It isn't, not by a long shot. A pizza on a credit card can cost up to several hundred dollars. Why many are so blind to this I can't figure out.
Originally Posted by EASmithV
I have quite a few things that were chosen at a premium because I liked them, but I would never have undertaken debt to get them. Debt is a scourge, a slave maker. Credit card debt is the worst of the worst. The only thing more dangerous is borrowing money from a leg breaker.
The key to my success was given to me by a very rich man when I was about 20 years old. I asked him what I should do to be financially successful. He looked me dead in the eye with a coldness I had never seen in him before. Then he said "Smart people earn interest. Stupid people pay interest." He was right. The only interest that makes any sense at all is on a home, and that should be dispatched as quickly as possible.
Last edited by JBrunner; 01-03-2013 at 11:47 AM. Click to view previous post history.