We know you won’t believe this but Warren Buffet is not at all interested in using an iPhone; owning shares in Apple and not using their most popular product is something we can’t digest. Forget iPhone, Warren Buffet doesn’t even use a smartphone. However, you are going to love his logic behind this. In spite of being a billionaire, he uses a Nokia flip phone, isn’t it surprising?
In an interview with CNN, Warren said that once he buys something, he likes to use it for at least 20-25 years; he doesn’t prefer throwing away anything until he has used it to the fullest. Same is the case with his phone too; in this era, where people switch phones every few months, Warren ensures that he has used it for a good number of years. It is not because he doesn’t like spending on things, but is because of his habit of completely utilizing them.
While giving the interview, Warren showed his flip phone and proudly said “This is the one Alexander Graham Bell gave me.”
This habit isn’t just restricted to his phone; he does this with all his other things. For example, he has not yet changed his house. Being the 2nd richest man, we expect him to live in a palace, but no, he still stays in a 3-bedroom house that he had purchased 60 years ago for 21 lakhs i.e. $31,500.
In case of stocks, Buffet believes that one should buy only if he is ready to keep them for at least 10 years; he doesn’t advice selling and buying of stocks frequently.
He also talked about his car in the interview; Buffet said that he used his Cadillac for around 8 years and drove just 3,500 miles every year so as to keep it in a good condition; once again, he doesn’t prefer switching cars every now and then. In 2014, he upgraded his car when General Motors’ CEO convinced him; now, he has a private jet but he hardly uses it. The jet is only for business meetings and that too very urgent ones.
We respect Warren for this attitude; instead of competing with others and showing-off things, he prefers living a simple lifestyle. He gives least importance to materialistic things, which is a great thing.