Why Warren Buffet Never Bought A House Or Car ?

I was at my gym chatting with some female friends yesterday. Suddenly, I said, "What ?! A handbag costs $300 SGD? How is that even reasonable? My iPhone SE 2022 128GB is only $400 SGD and it has 100 times more functions than a pretty handbag."

One of the young staff girls replied, "Huh? What, $300 SGD? That's pretty cheap, OK?"

Then the senior girl manager said to her, "So now you know how other people became rich, by NOT randomly spending money."

On my way home, as I was walking by the public shared bike area, which allows me to ride on it for free for 15 minutes, I thought to myself, many people asked me why I never bought a house or a car.

The answer was simple — because… I never needed it ?

Then it hit me... because Warren Buffett never needed them either…

Once you have been investing for a while, 90% of your assets are in the stock market, mutual funds, crypto, and ETFs. You're really only left with 10% of your cash, so you can't just go randomly buy anything. Secondly, you don't want to lose your dividends and growth opportunities in the stock market, so you wouldn't randomly liquidate your shares. Thirdly, all your cash is stored up to buy the next big thing, so you really don’t have any spare cash to spend on random things.

A Simple Path To Wealth Suggested By Warren Buffett:

1. Save more
2. Investing more
3. Buy SPY, QQQ

And you will do well in the long-run.

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