My wife received an email today from her Uncle Jerry titled “Sold Old Blue”. Old blue was his used 1968 pickup truck that was purchased for $500 in 1978. Uncle Jerry drove the truck for 25 years and finally decided to sell the truck this week. Old Blue is 40 years old, and to think of this truck as an investment would seem silly. But Old Blue was actually an asset, a huge asset. Uncle Jerry is a very frugal and wise man who enjoys saving money rather than spending it. Uncle Jerry is thankful to God for providing him the resources and blessings in his life and he has made sure to bless others. Old Blue is a perfect example of looking ahead and forgoing trends and wants. Uncle Jerry needed a reliable vehicle to get him to work. He didn’t need a sports car or even a new car. Old Blue would work just fine. But, why would Old Blue be considered an asset. A 40 year old used pickup truck couldn’t be worth more than a few hundred dollars. According to Uncle Jerry, Old Blue is worth $300,000. How? Well, Uncle Jerry purchased the used truck for $500 and would have spent $150 a month if he purchased a new vehicle in 1978. He took the $150 he would have spent, and put it in mutual funds. Then, when he received annual raises he would contribute the extra amount into his mutual funds. Uncle Jerry believes in saving but also frugal living. He didn’t need a new pickup truck or even a newer truck. Old blue would work just fine. How would you like to be paid $300,000 for your used car?
