members and their systems


for the short time I have been on here, I see that members will start a thread asking about a certain piece of equipment or speakers..       they will then buy that piece of equipment / speakers, start a thread about it saying how good it is and then next thing you know, they are starting another thread asking about another piece of gear as they are looking for something different.           what happened to that piece of gear that was so great ?       
  i get the whole buying thing....but where are members getting the money to do all of this stuff ?       do they not have other bills such as rent / mortgage payment, car payment, other bills to pay for also ?
birdscantrow

Showing 4 responses by ghasley

The hobby is an interesting balance of priorities. On the financial allocation side of things, each of us make what we make, some obviously more than others. There is a great deal of wealth out there. There is also a great deal of strife out there, always has been and unfortunately it always will be. You get to thinking you are doing pretty well until you take a step back and look around you. Also, watch out for those giving advice, including me. Many on this site are a touch older than average and they developed certain parameters that defined their success: living frugally, getting their house paid for, etc, etc. Thats the model thats worked in the US for a very long time. Digging a little deeper, having sufficient cash for the inevitable emergency or economic setback (personal or the economy as a whole) has always been a good idea. That got turned on its ear in 2008 and many who worked hard and played by the rules and bought all the house they could leverage into lost a decade of fiscal opportunity because they were married to their mortgage. If your home is your largest asset then its very likely that your asset allocation strategy could use a review. Im not casting any stones here, just pointing out that moments in time change things forever. Has covid rendered commercial property valuing models moot? Housing prices are unsustainable in many areas and many people have seen their values rise to the point that their belief in their own strategy and the self righteousness that comes with it have also risen. Same goes for the stock market. The oldest lesson in finance is the only cure for high prices are high prices. 

Housing and real estate ownership: if the average individual isnt in the game though then they will never accumulate wealth. Period. So, if someone is renting they should calculate what it would cost to own something like they are renting and ensure that they not only cover rent but also put away enough to facilitate owning in a reasonable amount of time. If they cant visualize that plan they are either renting beyond their means or sticking their head in the sand. That doesnt mean they should buy the second they can, only that they should be able and prepared to when the landscape is right. Bad financial decisions are most typically made during good times. Betting on tomorrow to pay for today. Dont do that.


You see all kinds of behavior all over our economy. Dont get too wrapped up in what others do or dont do, have or spend. Personal responsibility is different for everyone but it is also something we are each pretty clear about even if we dont always act responsibly.


So, for those of us warped enough to be afflicted with the audio hobby, many have accumulated gear over the years and traded up and continued to allocate funds to the hobby. It adds up over time. Sure, some people overspend and do so irresponsibly. The economy is overcooked right now if you look at housing, used car prices, online spending and it trickles into audio.


Used prices of gear these days is very high and when something decent gets listed for sale, it gets snapped up. I buy and sell alot of gear and never make money LOL. I do it because the shopping landscape has forever changed. When I was a young man pining for a piece of gear, I would go often to the dealer, waste his time, listen forever, offer to sweep his shop until the point where either I had enough money saved or he would wear down. Today, if you want an extended demo, you either buy new from a vendor with a liberal return policy (I hate that) or buy used at a value where you can move it on without much financial leakage. I think thats alot of what you see when you posed your original question.


Also, don’t let some of the snarky posters get you down. They are the exception to this community rather than the rule. They spew BS at every opportunity, insult at will and stare at their screen non stop waiting for their next victim. In addition, when viewing their system pictures on some occasion I wonder why they they fret over their carbon fiber cable elevators rather than replace their bordello red carpeting but hey, everyone allocates their own resources to their own satisfaction.


Most of the nicer audio nuts here lead a balanced life and have better things to do than sit around and defend their speaker brand as if they had been knighted by a self annointed speaker shaman. Have fun, buy what you can comfortably afford and never look at it as a storage of wealth...that would be a mistake seen often and not worth emulating. Welcome to the hobby, to Audiogon and enjoy your music!


Glad I could shed a little light for you @afisher even though I fully recognize you were being snarky...I can read minds right?

Jokes aside, there is no real secret why some people can afford certain things while others can’t, I’ve been on both sides of that equation. I just hate to see people chase lixury items with rent money. If you know anyone with a “boat payment” its playing out before your very eyes.
@mitch2 

Thanks for posting this:

Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth
  • The top 1% of net worth in USA in 2021 = $10,500,000.
  • The top 2% of net worth in USA in 2021 = $2,400,000.
  • The top 5% of net worth in USA in 2021 = $1,000,000.
  • The top 10% of net worth in USA in 2021 = $830,000.

I was too lazy to look up current levels but I would even venture that in order to be considered in these brackets this should be “income producing assets”. Otherwise, net worth would likely be declining which the cost of living rises. An after tax risk free rate of 3% would net the individual in the top bracket a little over $300k per year into perpetuity.

I would like to be the first to congratulate a certain someone who announced they are a one percenter on being in on the ground floor of every decent IPO for the last 40 years! Going all in and getting it right every time takes mad skills.

@millercarbon  

You are to be congratulated for establishing and sticking to your financial plan.

“I will dish it out and those who are smart will listen and learn how a totally normal guy who started out with a newspaper route and never made more than an overtime graveyard working x-ray tech winds up in the top 1% able to retire comfortably at 64.

”We got one listing 2021 net worth. Nobody knows what 2021 net worth is, for the simple fact it just started. Nobody ever knows what anything was for a year until the year is done. Duh. Yet a whole bunch seem unable to process that one basic fact.

Remember everyone, for the other 99% just have some fun and be responsible within your own means. I will never make it to $10.75 million in income producing assets...it has never been my goal. I am happy though that my ratio of charitable giving will mainly prevent that from ever happening (oh, and while I have a good job, most of us who work for a living won’t get there). My main charitable focus these days though is to contribute to causes that support voting rights for all citizens.