Imagine having a networth of 112billion dollars, and driving an 8 years old car that right now is worth about $14,000 on the use market. That’s Warren Buffet and his Cadillac 2014 XTS model.

Now for some people this createes confusion, why is this rich guy not spending any money and ontop of that he only pays himself about 100k, wwhihc is fair but why.

But for me it creates humility, and an apprection for the important things in life. Its easy to gete sucked into spending money on this you don’t need, but whne you see a billionaire buy something so cheap, it himbles to buy something you need.

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Obviously First: this is nice car and when it came out originally I was selling for about $50,000 retail and I think Warren actually got a deal on it.

So I read on Article that said

He cares about safety so having double airbags

He drives about 3,500 miles a year

And he deosnt want to spend time searching for car ( so he usually has his faughter buy it for him )

As for warren Buffet:

Anyhting and everythig that can be bought with mmoney that gives him pleasure he already owes

his home, his car, bbut most of all what money gives him his the freedom to to what he wants, with who he wants when he wants

and thatsa what he values most, not driving a 2 million car

Timeline:

First one lasted a decade, the second was 8 years and this one is going on 9 years for a total of 27 years and 3 cars.

but I should add he bought if my mistaking a private jet company call net jets, because he also values time

What can the avergage Person Learn from this

Well we may not all get to a billion dollars

But most of us can become millionaires in a lifetime

Here are some stats:

– the average millionaire with a household income of 250k or more Most of them drive Toyota, Hondas, and ford

Why?

Because these are safe, realible and so may on the road that they are easy to fix and don’t cost a lot of money to do so

So millionaire drive these cars, why cant you

Drive it until the whiles fall off or until it longer makes sense

If you buy a used car that’s 5 years old, you can pprobaly get another 10-15 years out of it

That’s the goal, imagine all the savings fromm buying new, to having to worry about massive depressions and so on

But theirs is something to consider:

I wish I could keep a car forever but eventually parts will become hard to find

And it will no longer make sense to actually own

And maybe after a wwhile I want to siwtch my car

But the point is:

When you are building wealth you can’t afford to waste it on trash that losses value

My next car will probably an SUV because I live In rural place with a lot dirt roads

And It’ll be 5-7 years old

Ps. Pay 15k cash for a car, invest the 700 per month you would spend on the car and when its time to switch cars after 10 years you’ll have 114k ( sell the old one and grab 10% of the investment and buy a new one to you )

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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