Quote:
Originally Posted by BoomerRoadie
I also do not see tools as investments. Tool are assests. Investments have, by definition a quantifiable return, whereas assests do not. So the real qualifier for an assest is, will it fulfill its duty over its period of expected performance? There is much more to that definition, but for these purposes, your final summary says everything that's needed.
Thank you!
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An investment is something that gives you some type of return on what you paid for it. It could be an asset, or some other type of vehicle. Quality tools that give you the ability to properly maintain your vehicle without having to pay someone to do it because you lack the tools, those savings is where your quantifiable return comes from. And when you decide to stop working on the cars, you can sell them (now an asset) for whatever the market will bear, recover some, if not all, of your original capital investment.
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