February 17th, 2022 by igniite

This is Warren Buffett’s car. Is you car worth more?

Billionaires such as Warren Buffett build their fortunes on wise financial decisions. Once those fortunes are made, they can then afford to splurge on things they don’t really need — like luxury cars.

The CEO of Berkshire Hathaway is well-known for his frugality. He lives in the same house he bought for $31,500 in 1958 (or $260,000 in today’s dollars).

In 2014, he bought a Cadillac, worth around $45,000. It was an upgrade from his previous car because his his daughter told him it was embarrassing.

The business mogul justified the delay, as you might expect, “I only drive about 3,500 miles a year so I will buy a new car very infrequently.”

As at 2022 Warren Buffett has a net worth of 115.4 billion. Warren Buffett famously understands the power of putting the money to good use and harvesting the power of compounding interest.

A vehicle is an asset that depreciates every year you hold it, while shares and property ( as a general rule) appreciate each year. If you are not financially established, then check in on the car you are driving.

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