Simon said:And I have no problems with him doing so. I wonder, in ten years time, when he has a 10 yr old Audi that costs a fortune in maintenance (someone posted an auto transmission as costing $19K I recall) whether he will be wishing he'd spent that $80K in a blue chip investment that should have at least doubled and be paying him 5% yield fully franked...
I know exactly where you're coming from Simon. He just has different goals and different strategies. I think he plans to make his fortune through business. I throw it out there every now and then about investing, but he is not the slightest bit interested. Same with the other directors.
He even made the argument today that the car will bring in more business and pay for itself (something about it raising morale). You never know, maybe that's true, or maybe it isn't. I think once he realizes you can't work forever, it will all become clear to him.
I mainly added that point in my last post to show another young person taking on a huge debt for a depreciating item. I certainly don't think it is a good idea, unless it really does increase business of course.