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AutomotiveAre you looking into buying a boat and wondering if they are depreciating assets? Well, yes they are depreciating assets. The will decline in value for as long as you own them, but this is not the only cost of ownership you should be concerned with.
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Foundational ConceptsSpending on depreciating assets can wreck your finances. Many people associate being wealthy with owning luxury cars, jewelry, designer jeans and high end watches. This is the image of wealth portrayed in the media and popularized in movies. The material goods you purchase are really depreciating assets and they are&hellip
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Foundational ConceptsAssets are anything that you own that have a cash value. Common examples are your house, car, stocks, business, cash, annuities, cryptocurrencies, and collectibles. On contrast to liabilities, they add to your net worth. There are many different types of assets that you can own. Let’s look at the different&hellip
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Foundational ConceptsAll assets are not created equal. Some go up in value and some don’t. A depreciating asset is one that goes down in value over time. Examples of depreciating assets are cars, boats, motorcycles, computers, RVs and furniture. These assets will almost always be worth less than what you paid&hellip
