Warren Buffett: Be Cheap to Get Rich?

Warren Buffett isn’t just one of the richest persons on this planet, he is probably also the billionaire with the lowest expenses out there, and he has kind of always been this way.

- He usually spends $3.17 on breakfast at McDonald’s. If the market is down, he’ll pick the cheaper option.
- He still lives in the same old house that he purchased for just $31,500, more than 60 years ago.
- Heck, he even used to drive a car with a license plate that read “THRIFTY”.

At the same time though …

- In 1989 Warren Buffett’s company spent $6.7 million on a personal jet airplane.
- In 1952 he bought a Dale Carnegie speaking course, which turned out to be quite expensive if you talk in terms of opportunity cost ($291m), but we’ll get to that later.
- Also in 1952, Buffett splurged 6% of his then net worth on a wedding ring.

He even calls his purchase of the wedding ring “the best investment” he ever made. Although Charlie Munger used to call the jet airplane “The Indefensible”. Anyhow, it is clear that the Oracle of Omaha thinks that sometimes – an investor must be willing to pay up – even outside of the stock market. So that begs the question – how frugal should an investor be? In this video – we will boil the topic of deferred gratification down into three separate takeaways.

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Warren Buffett how frugal should an investor be timestamps:
00:00 Intro
01:42 1. Why Frugality?
03:44 2. How Frugal?
07:41 3. Staying Frugal?

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Warren Buffett: When to Sell a Stock? https://youtu.be/uh5MgS9_roA

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My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there – investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties – I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process – upgrading your money-making toolbox.

Видео Warren Buffett: Be Cheap to Get Rich? канала The Swedish Investor