You can certainly look for certain features in a product that will inherently last longer by definition. Generally metal products with no rubber, glass and optics, mechanical items, tend to last much longer than items that are made of plastic or contain electronics prone to obsolescence. By focusing your money more on durable quality products that can be used over a lifetime, you essentially reduce your cost per use, increase the pleasure per use, and boost your Net Worth all at the same time. Having quality products just feels better as well.
How’s it going everybody this is peter bush i talked about avoiding the appreciation a lot mainly to maximize your net worth gains the corollary to this would be to buy timeless items where the value of the item itself retains very well over many many years of course if you buy really really good timeless items it might actually even appreciate in value the last
Time i talked about how a paper shredder is actually a bit timeless because no one ever really puts electronics inside a paper shredder these days as long as a paper shredder works for many many years if a new model comes out you’re not gonna go oh my gosh i need to upgrade to that brand new model because there’s not that much electronics inside a paper trader all
It is is a ac cord going into a motor with a little switch now timeless items is what i consider things that do not break very easily they usually last for a really long time they’re very hard to become obsolete they’re usually well-made mechanical items and usually with minimal electronics built in inside it if it does have a rechargeable battery and if it’s one
Of these timeless items you usually should be able to replace a rechargeable battery not one of these you know apple devices where the rechargeable battery is built-in and it’s really hard to replace that battery internally now some of you have asked me for some more examples of these things and they’re quite hard to come up with and what i notice is yes they are
Very well made mechanical items like things that are machined things that are made out of metal such as really really good knives knives don’t actually go out of date really because as long as they’re sharp they can cut something sometimes if it’s really really old it’s even better a mechanical keyboard is another one of these things where the switch is ready to
Have many many more cycles than a typical keyboard so therefore this type of keyboard will actually last you a lot longer a cast-iron pan is another one of these things that is very timeless you can use it for a really long time it actually gets better over time if you use it properly and let’s say if you have a 100 year old one that’s all the better because you’ll
Have this really really old pan that actually is functional and is actually very very non-stick if you know how to use it as an example of a timeless mechanical item i have over here a very well-made wrench this is forged in the usa it’s a craftsman brand over here 12 inches long it’s very smooth when you move this little slider thingy if you compare a wrench to
The china made one sometimes the quality control is not so good and maybe the material inside this wrench is not so good in terms of the alloy that’s inside with an improperly made wrench you can actually try to turn a nut and it would actually break over here because the metal is not as strong as a properly made wrench with that said you can imagine that there
Are many high quality tools out there and yes they might be a little bit more costly however they’re going to last you a long time for cheap tools if you ever try to take it to the extreme of what they say they are rated at you might just break the cheap tools this branch over here will probably never break on me and will likely last me a long time if i come to a
Point where i need to sell something like this the value of this will probably be very well retained because the functionality is there so if someone else goes oh i want to use a wrench i want to buy a wrench maybe they want to buy a used one this thing is gonna do its job because you know it’s just a really dumb piece on metal but it’s well-made and it will be
Able to turn your nut if you want it to no other instances of mechanical things that retains value very well is generally optics things that are a piece of glass that’s inside such as telescopes microscopes where it has a bunch of optics inside i’ve seen even use microscopes they sell for a really high price they retained their value very very well things like
Camera lenses generally retained their value very well because it’s just a dumb piece of glass sometimes yes it has a little bit of electronic in it to move the motors and stuff like that but generally what i’ve seen is optics of high-end cameras i need to point out that some people are really big fans of rolexes they are in couple thousand dollar range however
If you wear something like that and you’re not careful and you scratch it up you will lose the value of it a little bit rolex is tend to keep their value mainly because it’s a mechanical piece of machinery okay it has its it’s made out of very precision made pieces of metal just like kind of like this except extended to a much smaller scale i guess and a lot more
Parts even if you have to pay a little bit more on a per use basis it’s quite worth it because when you are using a high quality tool you get the job done you save time that way and you don’t have to fiddle with this little knob in a badly made wrench you likely have more resistance when turning this and therefore it’s gonna waste your time you know trying to try
To mess with a wrench in order to make it work for you so that’s all for you today don’t forget to give me a like on this video comment down below let me know other examples of timeless items that you have in mind if you’re interested in supporting this channel don’t forget to check out my audible link down in the video description below or you can get a free
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Transcribed from video
Timeless Products with Low Depreciation By BeatTheBush