Originally Posted by TX OMFS
Some of this is philosophical, as in what is your end goal and how do you look at life. I assume we're both in high tax brackets. I hate debt and I want cash to pay my debt. I'd rather drive my older vehicle, live a simpler life, pay more taxes, and have more cash in my pocket (or in my case to send to Sallie Mae). If I were in the market for "stuff" then the strategy of buying things to be written off would make sense.
It depends what "stuff" it is.
Debt for appreciating assets is OK. For example, I am searching for some property in Breckenridge or Winter Park, etc.
I think real-estate is good to have.
I think tax deferred investments are good.
But then I do like cars...bad habit that one loses money on but at some point I will die so at some point I will do what I enjoy. I also spend more on shooting than I should. And food. And I enjoy taking the family on vacations (of course for the most part i travel so much that I get good "discounts" on vacations.. for example last summer the family went to europe for a while..we stayed in my apartment so that was essentially free for a large part of the trip other than food)