Stealth Wealth Fail
I loved my Prius
I’m not a car guy. I’m really not. But when my Prius started to fail after 120K miles, I took an active interest in picking my new mode of transportation. I had a few caveats. I was driving 100 miles a day. I wanted either a hybrid or fully electric car. And I needed something safe for the snow. Preferably four-wheel drive.
My first instinct was to get a another PRIUS. In fact, a full electric model would be perfect. I loved the brand. It drove nicely. The maintenance was reasonable. I certainly liked the price. Yet I couldn’t pull the trigger. My previous car would slide in the icy winter weather, and I was concerned that an accident was just a little slip away.
After weeks back and forth, and a number of test drives, my wife finally piped in.
Why don’t you get a Tesla?
My immediate reaction was negative. Why spend so much money on an asset that sorely depreciates (This was before I became aware of the FI community, but my mind was still in the right place)? But she had a point. Tesla’s are super safe, available in four-wheel drive, and were the only model at the time that allowed the kind of range I was looking for.
I couldn’t believe what I was doing
Any doubts disappeared with the test drive. It was butter! Imagine, my complete indifference to cars erased in a matter of minutes. The way it leapt forward with just a small push on the acceleration and then stopped just as fast when my foot released. The shape, the lack of sound, the cool electronic gadgets on the inside.
Intoxicated, unwittingly drugged with finesse and speed. Drunk on power and control. Mere minutes later I was putting down the first payment and ordering a little beauty of my own.
This was so unlike me. I don’t wear expensive clothes or jewelry. In fact, I rarely buy anything for myself other than food and the most minimal bare necessities. It’s not that I couldn’t afford more, like most of the FI community, material things just don’t excite me. Stuff rarely nourishes my inner needs or brings anything more than the most transitory flecks of happiness.
The Tesla Arrives/Everything changes
And it is everything. Two years later, 40K on the odometer, and I feel a flash of pleasure every time I climb into the front seat. This non car guy, is now a car guy. It’s carried me through thrashes of rain and blizzards of snow. Stopping on a dime, rarely slipping, this is by far the most advanced car I have ever driven.
And so the story ends, happily ever after.
Or not.
You see. Everything changed after I pulled up in that technological beauty. Friends, family, colleagues, and associates looked at me differently. They all commented on the car. Then, I was dropped from two lucrative directorships for no clear reason. Social situations became awkward and I could sense a new tension with friends and neighbors.
Was it the Tesla? Was I just dreaming? Maybe stealth wealth was my comfortable modus operandi and now I felt unnecessarily exposed.
It’s all possible. I may never know.
No matter how much I love the car, no matter how much I enjoy each place it takes me. If I had to do it over again, I wouldn’t.
I would have gotten another Prius.
Que sera, sera.
Interesting perceptions. I’m not sure the directorships had anything to do with it? A lot of hospital networks are making changes with those right now. I don’t doubt the rest of the story though.
I have a friend who bought a Tesla (custom $110K). His wife made him return it. She said he was acting like a fool and that money should go into their retirement account. Sometimes a frugal wife can save us from ourselves. I’m lucky in that department too. I would love an awesome Tesla though.
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Thanks Wealthy Doc. I do wonder about the directorships. It just felt like something changed. Whether the change was in me or those around me remains to be seen.
Lots of judging based on things people can see. No one can see your investment accounts so people don’t actually know how much wealth you accumulate until you start cutting back. I too have thought about a Tesla after one of my patients showed me hers. Too expensive for me to “dog” out.
Yes, very true. I got so used to living under the radar that getting people’s attention was uncomfortable. But then again, they were used to me living under the radar too. Thanks for commenting!
I love nice stuff, and if money net were no object, I would probably be driving a Tesla. It is, so I don’t (I drive a Prius, that I love).
Hey Vagabond. I did love my Prius. Our next car will be another one (probably used).
I always wondered what happens when the battery dies? I don’t mean discharges, but refuses to take a charge.
Then you need a new battery or a new car!
Wow. I just came across this older post thanks to a FB share you put out. I did not know you were a fellow Tesla driver! We definitely have a lot more in common 🙂 It was wild because in my case it was almost an impulse buy. There was a Tesla dealership that opened in my state (that was the main reason I didn’t even consider one prior because even though they have Tesla Rangers, I felt better if there was a local place I could drive to). A retired radiologist (actually the one I replaced) had posted in his FB about getting a model S and how he loved it. I had been driving my 2004 Mercedes for about 11 yrs (and 235k miles) and was definitely in the mindset of getting an upgrade. I thought why not stop by the dealership for a test drive. I pretty much was sold the first minute of the drive. It was incredible. I put my deposit down that weekend (and the hardest part began which was waiting for it to be built and delivered). I was lucky because the original autopilot had just become available and was one of the first to get that in the build (I ended up getting a Dec 2015 Model S 90D. Every option except rear facing kid seats and winter heating package (I actually got talked out of it by salesman and was my only regret if I had to do it over again). Anyway it has been the most amazing purchase and still brings a smile when I get in it 2 1/2 yrs and 60k miles later. Over the air updates keep it feeling like a new car. It was a decent hit to my net worth (a little under 10% (excluding primary home value) at the time but I paid it with cash and would do it in a heartbeat all over again. I do think it is a stealth wealth vehicle as it doesn’t draw the ire of passersby like a Lambo or Ferrari.
Hands down, best care ever!
Still too impractical for rural America where 300 mile drives are routine. Many of those involve pulling a heavy trailer. It’s still just a city commuter car, something pretty useless in this neck of the woods. My daughter in law had one, she got rid of it.