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I have an iphone 6 and it works fine for me! I've owned two phones in the last 10 years, an iphone 3 that I got back in 2009 and then an iphone 6 (my current phone) after I dropped my iphone 3 in a lake.
The features I use the most on a day to day basis are texting, checking and sending emails, and using the web browser, and I've never felt constrained or limited in any way. I don't abstain from upgrading to save money, but I also don't like wasting money if I don't feel like I'll derive any pleasure from it. I bought my wife an iphone X when it came out. She's keen on upgrading to an XS which is fine by me. She enjoys having a nice phone and derives pleasure from it so it works for her.
I feel like I would be needlessly wasting $1000 (worth $2k, $4k, $8k 10/20/30 years in the future assuming a 7.2% ROI). I'd rather have $8,000 in 30 years than the "privilege" of owning an iphone X today that brings me absolutely no added pleasure whatsoever.
I'd rather have $100,000 extra in my nest egg in the future to pass down to my kids than upgrade to a new $1000 phone every year. This is not to say that I live like a miser. I have my guilty pleasures. Having the latest phone is just not one of them.
(For the record since it was brought up watches are not one of my guilty pleasures either. My most expensive watch is a $150 Seiko).
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