Once upon a time my mom asked my granddad the secret to his successful investments. His answer was, “Buy good stuff!” That’s all he said. The other day I was talking to a colleague who said people never think about maintaining things anymore. “The real trick,” he said, “is to buy good stuff and learn how to fix it.” That got me thinking about the value of some of the stuff I’ve bought. Is it “good stuff?”
We paid $500 for the espresso maker in December 2000. It’s still going strong. We pay roughly $245/year for coffee (about 22 pounds annually.) I once had to replace the on/off switch. I think that cost about $65. So add it up and we’ve paid $3,015 total on coffee over the past 10 years. Or about 83 cents a day. For six shots of premium espresso. At Starbucks the equivalent would cost around $6.75/day. Over 10 years that would come to $24,637 dollars. This machine is currently the most valuable piece of property I own.