Invest in your 401K, not your footwear

I keep reading these articles in women’s magazines, and hearing from women bloggers that they consider their shoes “investments”. They collect Christian Louboutins, Jimmy Choos, and Manolo Blahniks ~ all of which cost between $450 – $800 a pair! You people have been watching too much Oprah.

Shoes are like cars. They are never going to appreciate in value. In fact, they begin to lose value the minute you “drive them off the lot”. Take a lesson from Carrie on Sex and the City. When she wanted to buy her apartment, she found out that she had spent $40,000 on shoes, and didn’t have the money for a downpayment.

I’m all for looking good, but the truth is you need a retirement fund a lot more than you need a pair of $750 shoes. Invest in your future, put the money in your 401K. You can borrow against it when you want to buy that first house, but banks don’t consider your shoes collateral.

11 thoughts on “Invest in your 401K, not your footwear”

  1. Things called ‘thongs’ are de rigueur here. I think you call them flip flops, lets face it the other thongs would be a little problematic as footware.
    But a $4.95 pair of thongs (flip flops) is very economical. Funny thing is it doesn’t translate to wealth generation or home ownership.
    My $29.95 faux leather footwear, are probably on the wasteful side.

  2. Thongs! Doh! Yeah that mean’s something *completely* different here.

    Flip flops are huge in California as well, but not very practical. It’s cold, and rainy in the winter. Still, I’d rather pay $5 than $500. :-)

  3. It boggles my mind that anyone would consider paying $750 for a pair of shoes…that hurt! I spend on my shoes…I really do. Good shoes are worth the money, but when I buy a pair, they can last up to 5 years (longer if I take care of ’em and get them re-soled periodically).

    But say you take one $750 pair of shoes and invest that money once per year for 10 years in the market. At a decent rate of return, you double your money at the end of a decade. Do that with a tax-deferred retirement account for 30 years and bang…$150K+, all for an initial investment of $22,500.

    Advising anyone to ‘invest’ in shoes is criminally stupid.

  4. C’mon froggy, what about some thongs for the missus? OK, I hate that flip flop scuff noise, but that’s just me.
    Or even some flipper flippers, dolphins have to be good for something…

  5. Cartledge – I hate that noise too. I used to work with a bunch of people who wore them and it was thwak, thwak, thwak all day long.

    Randal – You are tres chic my friend. Not every man can pull off thongs. Mwah!

  6. I’ll pay a little more for shoes than $20. As you get older you need to take care of the feet but $100 bucks is about my limit. Ecco, Merril are both good and I get years and years of use out of them. I keep them polished and I very rarely wear them for more than a day or two at a time. I also pay for my “sneakers” as I wear New Balance but I get a lot of wear out of them and the ones I wear are “Made in America” believe it or not. I don’t have a problem with buying good shoes but I pay for comfort and serviceability not looks which is all you paying for when the price gets above about $100.

  7. fallenmonk – You’re so right, anything over $100 is just crazy. Chicks just buy expensive shoes to make other chicks jealous. It’s not like these things are even comfortable. Doesn’t work on me. I see a 25 year old woman is $800 shoes and all I can think is, “She’s going to retire to a cardboard box one day”. It’s such a waste!

  8. I would definitely never pay that much for shoes. Especially since I’m sure those fancy shoes aren’t even comfortable!

    I love my flip-flops…but I only buy the cheap ones. They have fancy ones that cost $50! I can’t see spending $50 on flip-flops.

    By the way, in Hawaii they call them “slippers”!

  9. I really don’t believe you should be working out in loincloths made of dingo skin, a lot were capable formulate. The instant we realize it can be truly worth physical workouts, will probably be sensational looking.

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