Don't Buy a Car — Here's Why It Destroys Your Wealth - Charlie Munger

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Charlie Munger never bought a new car on his salary. Not when he was making $50,000 as a lawyer. Not when he became a millionaire. Not even when he became a billionaire worth $2.5 billion.

I drove a 2006 Honda Accord for 13 years. Cost me $21,000. Meanwhile, my neighbors—earning $100,000 a year—were leasing $80,000 BMWs. Guess who retired richer?

In this video, I break down the brutal mathematics of car ownership that nobody talks about:

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