

How a Millionaire's Brain Works - nickb
http://www.fortunewatch.com/how-a-millionaires-brain-works/

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This is not how any millionaire I know's brain works. Maybe I know an
unrepresentative sample, but most focus their ingenuity on novel ways to
create wealth rather than novel ways of avoiding expenditure.

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edw519
I have a client that drives a $130,000 car, but won't stock paper towels in
the rest room.

Another sends clerks home when it gets slow, but will have me spend 50 hours
(at substantially higher rates) chasing down a 23 cent imbalance in his books.

Another shares a corporate jet, but won't let his people eat at their desks to
save on cleaning crew expenses.

I know one who will make his lunch companion get out of the car to find a
parking meter with time already on it. Really.

I could go on and on...

Many people say, "Thats how they got rich." Bull. They're just stupid and
cheap.

I know many millionaires of both kinds. IMO, it boils down to this: How did
you get your money and, if you lost it all, how would you get it back?

The confident ones are not cheap. The inheriters are.

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Alex3917
I've heard that a lot of billionaires are extremely frugal. They'll do things
like drive three hours to save a couple hundred bucks on a new car. Apparently
because they get solicited for money all the time, a lot of them get very
paranoid about being taken advantage of.

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paul
That's a good idea if your time is worthless. "Penny-wise and pound-foolish"

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Alex3917
It's not really to save money though. It's more like after getting dozens of
emails a day begging for money, some percentage just develop a complex and
have trouble trusting others.

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forgotmylastone
If it had to do with _emails_ , then this wouldn't just apply to rich people,
it would apply to everyone with an email account. Have you never seen spam?

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nreece
A millionaire doesn't even have his own private parking space? Sounds fishy :)

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pbnaidu
What if a millionaire lived in some other city and drove to New York City to
get to the air port?

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trekker7
then have the butler drive the car back

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edw519
An oldie but goodie.

Like the one about the millionaire who asked "How much for these shirts?"

"Two for $25."

"How much for one?"

"$15"

"I'll take the other one."

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jgrahamc
An insight into how billionaires think in NYC comes from Mayor Bloomberg who
takes the subway to work. That's way cheaper than parking in Manhattan.

John.

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nickb
He rides subway to appeal to people. He's a politician.

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gwenhwyfaer
Possibly he also rides subway to catch the mood of the passengers, which makes
him a politician with a clue.

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gqgy
that story is either fiction or that specific millionaire is dumb. it takes a
significant amount of time (i.e. several minutes to hours to days) to get a
loan. a person driving a ferrari would not invest the time for that amount of
money.

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rokhayakebe
This story makes lots of sense. Most of these millionaires live on a month to
month basis, there4 they need to save every little dollar. To me money buys
time. Forget a Ferrari, get a prius. besides, the new millionaire means 5M+

