I know what you said, and I understand many executives make more than that. I can only assume that many people in larger cities make much less than that, though. So those folks might not adopt the “one hour of my time each day is worth more than $15k / year” idea.
If you’ve got no time for a little frivolity, I don’t see the point of having the big money
Just a few comments. I learned 40 years ago to separate your work life from your private life. I was taught to use the car door as the physical part of ending or starting the day. When you look back, something wrong with spending every waking hour trying to make more money-for what purpose? In 1970 in basic training, we had a guy that was a salesman in Chicago. He was being paid while in basic. So every night in the barracks, he would write his sales orders and mail them in. His desk was a foot locker. He made a lot of money back then but when asked what he bought with it he just kind of shrugged and mentioned more expensive cameras, etc. I dunno, something wrong with a guy that has to try and squeeze another hour of work in by using Uber instead of a relaxing drive home. Just as I see it in my little corner of the world, but I agree the article is a little nutso.
I came to the same conclusion as your daughter did when I interviewed for a job in lower Manhattan in the 1970s. A parking place for $450 a month sounds like a screaming bargain compared to the 70s prices.
Yes, there are areas where car ownership does not pay. Motor Trend had an article on this sometime in the past. They figured an unmarried male under 25 driving a Corvette in Manhattan would have to pay at least $12,500 per year in insurance alone.
I worked in Montreal for 1.5 years and the narrow streets. poor parking, tons of snow and high insurance rates made me work without a car. Public transportation was good and cabs readily available when you needed them.
I dunno, I was raised that if you engaged in an activity that neither earned you any money or increased your knowledge, you were wasting time.
Wow! I went on a 20+ mile non-paid bicycle activity this morning.
I’m going, unpaid, to the beach on the Gulf of Mexico, Anna Maria Island , this evening to swim and watch the sunset .
Early tomorrow I play in a St. Patrick’s Day golf scramble on our course and I probably won’t win a darn thing, but I’ll try.
And I’m not really trying to learn anything. I just call it fun and enjoyment!
Wasting my time? I guess that depends on one’s point of view, eh?
Funny part is that I’m not even ashamed of myself!
There’s a lot more then time to be considered driving in a city like Boston and NYC then just your time. If I lived and worked in either city I may not own a car. Just too much of a hassle.
Most professionals I’ve known and work with don’t do that. I easily work 50+ hours a week. Have been for decades. It’s easier and better for myself and family if I didn’t spend all those hours in the office. When kids were young I’d put in 2-3 hours of work after they went to bed so I didn’t have to be working while they’re up.
When I was a graduate student, we did have a car. However, we lived in married student housing. A bus came along every 20 minutes. I could get on the bus and be at my building in less than 10 minutes. Now married student housing wasn’t luxurious, but it was affordable for us. There were students on the same program that I was on that began the program a year or more before I began the program and still there a year after I finished my degree. These students lived off campus in luxurious apartments and had to spend time driving to campus and hunting a parking place.
Our son took a job at a university and is completing his degree as well. He owned a three bedroom house 35 minutes off campus. He sold the house and moved the family into a two bedroom apartment five minutes off campus. That extra hour he saves every day is valuable to him.
Our town doesn’t have sidewalks near campus and the streets are dangerous to walk. Therefore, I had to drive to campus. We had a house a mile off campus. Mrs. Triedaq decided we should build a bigger house two miles off campus. My commute went from 5 minutes to 10 minutes. I was worn out from making the drive. The car wore out twice as fast. Fortunately, I had a friend and colleague that lived at the halfway point 5 minutes from my house. I would drive to his house in the morning, have a cup of coffee. He would then ride the rest of the way with me. After work, we would drive to his house. We would unwind after the 5 minute drive with cocktails and then I would be relaxed enough to make the rest of the grueling 5 minute commute home.
My point is that commuting takes time no matter what the distance. There are a lot of people in the younger generations that choose to live in urban areas and not own a car.
It’s like travelling someplace for vacation. Upon your return, you don’t have any more money than when you left, your knowledge base probably didn’t increase, so what was accomplished?
Sorry I missed you. We were at Lido Beach. Drove up to Anna Maria. A lot more going on up there but you take what you can get. Drove me nuts just sitting but the sunset was great. With $30 breakfasts and $50 dinners, I can guarantee I came back with a lot less money. A lot of horn honking though. Everyone I talked to was from NY or there abouts. Saw dolphins and manatees but no snakes or aligators. Week before had no car and relied on our feet and buses. They accomplished their intent of keeping us and our money within the resort. Mobility is great, motorized mobility is better, and personalized motorized mobility is the best.
You saw some different things, ate some different food, and spent some time with your wife and kids without work getting in the way. Money is something I need in order to do things I enjoy. If I’m too busy trying to make more money to use that money to do or buy things I enjoy…I think I’d be happier as a bum. Just the way I see it. But hard to imagine a guy in his deathbed looking back wishing he’d just worked a little longer and made more money. I’m not advocating being lazy or a knucklehead. But I think there’s a balance that needs to be maintained. Including allowing time to be a lazy knucklehead once in a while.
I prolly told the story before but one of the guys I worked with who was in charge of a very northern field office relayed it. He was broke. Spent all his money on fishing and hunting and some to his former wife. One of the guys in the office who was very frugal with his money was telling him how he should not spend all his money on fun stuff. He responded that when he was old and gray and sitting in his rocker he’d have all those experiences to think back on, but the other guy would only think about all the money he saved. The next week he showed up in a new Caddy.
John, I once received some sage advice from a very wise uncle. He said “I’ve never seen a single headstone in the cemetery that said ‘i should have spent more time at the office’”. Unfortunately, I’m one of those guys that never had any real hobbies. I’ve never had any interest in sports, and the great outdoors is someplace I have to walk through between my house and my car. I can no longer work on my cars. I’ve bought my last ever collector car unless I can find a certain 63 Chrysler New yorker. As my therapist once said to me “your hobby was work”.
I guess your “peak car” era was 1963.
Here’s to hoping you find that certain Chrysler
Thanks John! My wife says she thinks my peak year was back in the 60’s also. I personally think it was in the early 70’s when I was racing at Freeport Raceway on Long Island.
There is a happy balance and each person has to identify his or her priorities. Upon graduating in Engineering I was offered a job by the Federal Government in the patent office. They told me of the wonderful l job security and pension plan I would enroll in. No mention of travel.
However, I always wanted to see the world, do engineering work, and have all those wonderful experiences of other cultures.
I ended up working in the energy industry (oil &gas) with less job security but ended up setting foot in 38 countries and learned 3 other languages. Joining the military could have achieved that but I did not like the discipline.
I also saved enough money to retire comfortably and worry-free.
In high school I rode on the school bus with a classmate who did not see any use in traveling. She became a grade school teacher and married a farm boy 2 farms over. She also lived a happy life on her terms and sees the world on her large screen TV.
P.S. One of the most interesting parts of living overseas is driving and riding in all the different motor vehicles not sold in North America.
You won’t see them in the ocean. Try driving south to around Marco Island. You could also find much calmer water, like the Indian River on the East Coast of Florida. Ambush predators need the calm water to sit still and wait for dinner to show up. On a sunny day, you might see them sunning themselves on the shoreline.
Bing was on Lido Key in Sarasota. Last week I made another short trip to Myakka River State Park (Florida’s version of a State Park and a lot of fun) not too far from Lido in Sarasota County. He was a very short distance away. Last week I was there and within a few feet (way too close, actually) of about a 12’ gator sunning itself on a bank, motionless. (Can your State Park do that?) I wasn’t too worried, though. Gators don’t usually attack humans and can only run up to 35mph for short distances. All I’d have to do is run 36mph for a couple feet beyond that. Snakes are there, too! No peak car problem in the park and no problem parking there. I think it’s a hidden gem.
A very reliable source informs me that the current banking situation has resulted in 4.5%+ interest rates and average leases running $80+/month compared to 2 years ago. That will certainly have some effect on “Peaking” of the car market.