splurges can be very good

[sv2007]

Today, my son was playing the piano and I realized (1) that he's pretty good, a little lacking in rhythm but really good and (2) the piano he's on (Kawai C330) was one of my early splurges. Just looking at his cute little fingers on the keys was too cute; had to take a picture.

This digital piano costed me 15% of my net worth at the time; I bought it after my first summer internship. Years and years passed; and surprisingly this piano survived it all.

Thinking back, It is fate that I splurged. It is also fate that wife convinced me to teach him (I wanted to wait until he's 8, then the little hands would have been bigger).

Had I not bought this piano, I may have ended up with an acoustic, which for sure I would have sold it during my numerous moves.

Turns out he's such a smart kid (definitely way better than me when I was his age in almost everything, except climbing trees, which I was very good at).

Oh, those little fingers are just so cute!

[disneysteve]

This digital piano costed me 15% of my net worth at the time

I seem to recall Suze Orman's rule on her show was not to spend more than 10% of your savings on a single purchase so by that guideline, 15% was a little more of a splurge but certainly not unreasonable. It's great that you've gotten plenty of use out of it.

I've played the piano since I was 7. My parents had an upright and in college I had access to pianos on campus to play. Once I was in med school and in my own place, though, I missed having one so I splurged and bought an electric Yamaha. I've still got it 25+ years later though I hardly ever play it. I keep thinking I need to get back to it.

[sv2007]

It's certainly saved me trips to the music building.

I started when I was 8; and hence, thinking that's the best age for everybody. I remember that I liked going to piano classes (actually instructor's house and distinctly remember being told be my instructor that Beethoven would bite his students when they make a mistake, which was a bit scary because I worry about getting bitten by her. Never told anyone that. I guess I grew up OK, but it can always be an excuse if I go crazy later in life.)

But it seems 5 is also a pretty good age to start too. I make it into a game where we try to match keys first, then dynamics; we're working on rhythm. He's very technical and reads music excellent. We plan to get him an instructor once school starts (less traveling).

Kids these days, I think they are way smarter than when I was a kid. Or maybe it is just having more resources; my son's school has computer labs for kinder! Amazing.

[MonkeyMama]

My parents did a similar splurge. Was unusual for them, but they bought a grand piano when I was maybe 10 or 12. They bought a used piano, but looked very carefully (it sounds amazing) and I am sure it will be in my family for generations.

This actually just came up because both my sister and I moved out on our own at 18. I think a lot of it was our personalities and our parent's expectations, BUT, we were both student teachers (piano) and were able to make good money during college. My dad just mentioned to me the other day how nicely that worked out. It was only yesterday that it hit me I am surprised my parents even paid for those piano lessons. They seemed to have so little money when I was growing up, but is something they made a priority.

I'd say both investments paid off very well, in ways they never imagined.

Heck, I have a similar story. We bought a slightly bigger house than we otherwise would because my spouse wanted a dedicated home theater room. It was a no brainer since we made a lateral cost move to a city with much cheaper housing. So we basically paid the same for twice as much house. Since we bought new construction we only paid a $20k - $30k premium for the extra 800 square feet (the bigger houses were just bigger overall - the extra room is not that big by itself). But on the open market the price differential has always been six figures. Which means an immediate $70k return on the extra room. Time will tell and it will depend when we sell. But it had never occurred to me that our splurge would be a good investment or that it would just pay for itself like that.

I know that wasn't what you were getting at, but the piano stories reminded me of splurges that turned out to be far beyond the kind of ridiculous splurge they seemed to be at the time. Some good investments, in the end.

[sv2007]

My parents did a similar splurge. Was unusual for them, but they bought a grand piano when I was maybe 10 or 12.


Since we bought new construction we only paid a $20k - $30k premium for the extra 800 square feet (the bigger houses were just bigger overall - the extra room is not that big by itself). But on the open market the price differential has always been six figures. Which means an immediate $70k return on the extra room..

Grand pianos take up lots of room, and depreciation is major (I think mainly due to its size); so buying used is good. Did your parents play? Or is it just for you guys?

As for your house, I think that's definitely a great move. Anything that can decrease the $/sqft is going to pay dividends when you sell it (especially if the extra room can be sectioned off so not to waste electricity/heat/air when not in use).

[MonkeyMama]

Grand pianos take up lots of room, and depreciation is major (I think mainly due to its size); so buying used is good. Did your parents play? Or is it just for you guys?

Yeah, I recall my mom initially saying "no" due to the size. We kind of thought my dad was crazy, but in the end it fit just fine. My dad has dabbled in piano but mostly my sister and I played.