I agree with all of them.
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I didn’t even open the link but I agree with all of it. If I ever disagreed with Buffett, I’d keep it to myself because I could handle the shame.
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I remember back in 2007-2009 when we were buying homes via short-sale from people that were in way over their head. There were a couple of things we always saw:
- New cars in the driveway
- Pets
- Smokers
- Huge TV in the family room
Many times we would see the total of the cars more than 50% of the value of the home.
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Some people have different priorities. Those same people will complain life is unfair because they lost their house or have nothing saved and blame others.
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Back in the 90’s I used to play golf in a small town outside of Ft. LeonardWood, MO.
I would drive by this silver bullet 60’s streamline trailer with a fairly new Corvette.
It blew my mind every time.
Today I had a patient drive up in a new Lexus. She argued with us for half an hour about paying the $100 deductible for her treatment. I see overspending on autos all the time. Years ago, an owner of a Chrysler-Plymouth dealer told me he tried to talk marginal wage earners into buying cheaper cars quite frequently, but relented when he realized they would just buy an expensive car at another dealer.
Could be that’s how she was able to buy a new Lexus.
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I was thinking that. Some people become wealthy by being miserly.
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Often referred to as a “chiseler”.
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