30 Years is a Long Time!

Thirty years is a long time!  It’s a lot longer than the span of time between the year my parents had their first glimpse of me and the year I had children of my own.  It’s longer than the time between the year I married and the year my oldest child was married. How much my life and needs have changed over that span of time, and how much more they'll change over 30 years!
 
I'm a homeowner, so in 30 years a I would need:
  • At least one new roof, perhaps two.
  • To replace all the appliances and equipment in the house at least once (think furnace, air conditioner, hot water heater).
  • To faithfully pay 30 years of real estate taxes.
  • To at least minimally update the kitchen or bath, keeping in mind how out-of-date even a twenty year old kitchen or bathroom looks.

And the price of all these things will increase with inflation, perhaps significantly. Non home-owners wouldn’t have some of these expenses, but their rent includes a provision for capital expenses, and that rent would also increase with inflation.

On top of that, I'll need several automobiles. Even if I keep each car for 10 years, which I try to do, there would be three cars over 30 years. If I traded every two to three years I'd need 10 to 15 cars in 30 years!

And I'll be 30 years older. I'm already seeing the effect of getting older on my health and stamina, there's a lot more of that to come.