Yes, please buy the latest iPad and get into more debt!

Today, Apple announced some new iterations of their popular iPad. They also announced improvements on their smartwatch (is that still a thing, or are people over this yet?), and a new Apple TV.

Investors were apparently bored, as the Apple stock went down during the announcement. But I have no doubt that the legions of iPad minions will rush to get the latest version of the gadget. And resell the previous version at 50% of its initial price. What a great investment scheme this is… for Apple! At this point it’s like they are not selling their hardware, they’re just renting it for a regular subscription price: Every year, pay an additional thousand bucks to maintain your status.

ipad-pro-price

Don’t get me wrong, I get it: Apple produces quality hardware and software. Good for them. but it also means you shouldn’t need to buy the latest and greatest every year. My wife has a 4 year old iPhone 4. It works great, and she hasn’t seen a need to buy the iPhone 5, or 6 yet. She also has a low-end $80 Android phone. Unlike her iPhone, it supports 4G. It does not take great pictures, but is overall an improvement over the iPhone 4 in her daily experience. and it cost 8 times less!

The new iPad costs more than a thousand bucks. Paying $1024 for a tablet is a good investment if you use the thing daily and plan on keeping it for years. If your expectation however is to keep it for a year, then upgrade to the next model, you’re just a sheep. Can people in the US actually afford that? Last I heard, the savings rate in this country is alarmingly low!

But oh well. Keep buying gadgets, make my ETFs happy. Enjoy your iPad, I’ll enjoy my financial independence.

One Response
  1. Andrew@LivingRichCheaply

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