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You Can Get Richer Pinching Pennies Like Warren Buffett

2K views 5 replies 6 participants last post by  TheRootedNomad 
#1 ·
#3 ·
Thanks Contrary - (little secret - I have always had a little 'crush' on Mr. Warren - haha)
If you get the chance his books are very good reads. He actually still lives in the same house that he & his first wife purchased in 1958. I follow what Berkshire Hathaway is up to, and what Warren is buying and selling in the moment.

I have always had an intense fascination with the 'old money crowd' - people like the Astor's, Getty's, Carnegie's, Morgan's, etc....
There have been a great many books thru out the years that chronicled their lives & lifestyles. (And I think I have devoured them all - lol).

The 'old money' has such a deeper, greater respect for money that the 'new monies' - the celebs, the athletes, the 'socialites'.... mainly because they did earn their money 'one penny at a time' - there weren't very many of the 'instant paychecks' of this century.

J. Paul Getty for example (one of the richest men of his time) - took tuna salad in a brown paper bag to work, for lunch each day, for 20 years.

But, in spite of their extreme wealth (and their appearances of being incredibly 'cheap') - most of them were/are not.
Warren rides around in his private jet & a has a $4 million dollar 2nd home in CA. Getty may have ate tuna salad everyday for 20 years - but he had his 'vices' too- he loved to collect art & antiques.

In the big scheme of things though - we really need to listen to their 'wise' advice. Most of them apparently seem(ed) to know what they are talking about - only spend on the things that 'really matter' to you and are important. If you can filter out all the extras - you can have your cake & eat it too....
 
#5 ·
what are some of the books about old money? i too am fascinated...
 
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#6 ·
I loved the contractor idea. As I grew up in a carpenter/roofer's house I can't tell you how true it is. Money flowed in the summer and mom stashed it for the winter.

The same is true in the heating and air industry. Depending on where you live probably dictates the time frame. Around here the winter is always slower than the summer but Dec/Jan seems to be the dead zone, especially if it is a warm day. I would suggest anyone that knows they need a new AC or wants to install one to have it done on a warm Jan. day.
 
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