Quote:
Originally posted by SleazyDream
idiot
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No he is not an idiot. New cars do depreciate about 15% immediately after purchase and then lose their value quickly.
I think someone said that he is not rich cos he drove this car. That is only partly true. The reason Walton has been successful is that he leads a frugal life and does not waste money. This attitude gave him the initial capital to set up his business and allowed rapid expansion.
If you are interested in how million+ net wealth individuals really spend their money, read "The Millionaire Next Door." The book is based on interviews and surveys of about 3000 1 mil+ people. Walton is actually a fairly typical wealthy person. the most popular car amongst this group is a ford pickup! the author hypothesises that they like this cos the car has a high wieght to cost ratio and it is practical.
Alternatively, you can listen to BS from people on this board who are blowing all their cash or spending on credit and will eventually be unable to sustain their lifestyles.... but they don't think this is the case cos they are 'pimps' and are convinced that internet porn will be easy forever.