Wow! Impressed and staggered by what's being spent every 5 years on Apple products. I know several people who are scrapping by and would love to have $8,000 in disposable income.
Here's a frugal budget for comparison. That is, a DNTLG approach, “Don't Need the Latest Greatest”.
Let's see, in the past 7 years, I’ve spent
$100 on an iPhone SE$540 on an iPad Air 2$700 on a used 2015 13” MacBook Air.
A whopping $1,340. I put the remaining $6,660 into an index fund. Over the past 5 years, the NASDAQ composite has nearly tripled. So, that’s about $19,300.
I can foresee spending in the next year or two:
$350 on an iPhone SE 2$330 on a new iPad$1,200 on a MacBook Air
and to try it out
$400 on an Apple Watch
Or, about $2,300, leaving $17,000 to put into a tax-free Roth IRA.
Oh, and since I’ll save nearly $6,000 going frugal for this next 5-year cycle, make that about $23,000 in my Roth IRA. Compounding interest and adding more savings going forward will produce a good nest egg — or, a good college education fund — or, a hefty accumulation for a new car or hobbies.
Just another approach for those who want their Apple “cake and eat it, too” — in future years or retirement!
If you'd invested in AAPL, you would've made around double the NASDAQ composite. Alas, no diversification.
As for a new car, I'm fine with my 12 year old one. Tech is my hobby and I prefer iPads to cars. No kids so don't need to save for a college fund.
Yes, a retirement nest egg is essential. Still, we all die eventually and there's no predicting when your time will be. It's a balancing act between enjoying the fruits of your labor now versus in the future.