I have no problem with people spending their hard-earned money in whatever way they want. Heck, it's their money. But let's make a few points on personal finance clear. An investment provides a return or appreciates in value. Stocks are an investment. Property is an investment. Precious metals are investments.
A Sebenza is not an investment. It's an expense like the television you mentioned, except that a television is not a "bad investment"... rather, it's not an investment, at all. And I have seen plenty of threads in the "for sale" forums where Sebenzas were price reduced several times before selling. At best, a Sebenza is like a bank deposit account, but one that yields no interest and is easily lost or stolen. If people want to buy Sebenzas, then more power to them. But call a spade a spade. It's a rich man's game.
As for refusing to save for retirement because you might die early... I'm just speechless. If you were a new member who joined BF today, I'd swear you were joking or trolling. Tell that to the guy who's 55, lost his job after the recession, and can't afford to put gas in his car. Ask him if he regrets not saving more for retirement.