First, I don't give a damn what other people think -- never have.
Second, I hate wasting money and resources, so if something I own still serves my purposes, I am extremely reluctant to replace it. You earn, save, and invest your way to prosperity and financial independence; only rarely will spending get you there.
Third, anybody with money can have the latest high-end equipment, but to own an older bicycle, car, appliance, or house that is still in good working order requires patience, skill, and dedication.
Fourth, ignoring the first item on my list, I ride my Team USA red-white-and-blue no-suspension Schwinn mountain bike in the annual Neptune Ave. Fourth of July parade. Last year someone yelled out, "A red, white, and blue bike -- nice!" My Capo Modell Campagnolo road bike draws a lot of favorable comments at Bike to Work Day and other events.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing." --Theodore Roosevelt
Capo: 1959 Modell Campagnolo, S/N 40324; 1960 Sieger (2), S/N 42624, 42597
Carlton: 1962 Franco Suisse, S/N K7911
Peugeot: 1970 UO-8, S/N 0010468
Bianchi: 1982 Campione d'Italia, S/N 1.M9914
Schwinn: 1988 Project KOM-10, S/N F804069