Shopping Strategy Of Millionaires: Buy Used Or High Quality: “Defensive Money Strategies from Real Millionaires
1. House Purchases. Real Millionaires do not get houses custom built, nor do they move into new developments. They live in clusters with each other in OLD neighborhoods, in OLD houses. Most are 15 years old and they often triple in price since their purchases.
2. Clothing Purchases. They aren’t going to buy really expensive clothes. They may frequent thrift shops or even Walmart to get their clothes. So don’t be embarrassed to go cheap, just think of it as acting like a millionaire. They will buy really expensive shoes, and resole them when necessary. Since they’ll wear them for a couple of decades the cost per wear will be marginal compared to constantly replacing a cheap pair.
3. Furniture Purchases. Real millionaires do not buy the latest styled furniture. They’ll go out and buy a $10,000 antique table made from REAL wood, not modern saw dust. They’ll repair and refinish this table when needed. They can keep it for a lifetime, pass it on to their children, and not worry about upgrading to the latest. Guess what? Antiques raise in value, so their net worth doesn’t take a hit at all! As far as other furniture goes, they re-upholster it a couple of times in their life time, which is way cheaper than buying new again.
4. Vehicle Purchases. Re”