Why Ramit Sethi Drives a 2005 Honda Accord (Even Though He's a Millionaire)
Although Ramit Sethi, author of "I Will Teach You To Be Rich," can afford to drive a brand-new luxury vehicle, he chooses not to.
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"When people find out that I'm a millionaire who drives an 18-year-old Honda Accord I bought in 2005, people get so mad," he wrote on LinkedIn. "I inevitably get comments like, 'What's the f***ing point of being a millionaire?' [and] 'What's the point of making money when you drive a Honda?'
"It makes me laugh," he continued. "Some people genuinely don't understand why someone wouldn't want to spend money on a big house or new car."
Here's why Sethi said he opts to keep driving his trusty Honda.
Everyone Has Their Own Version of a 'Rich Life'
Sethi said that while for some people, driving a luxury car may be a priority, it simply isn't for him.
"I choose what to spend my money on," he wrote. "I choose my Rich Life."
Sethi doesn't believe you should never splurge -- it's more about being mindful about what you splurge on.
"I always say: Spend extravagantly on the things you love and cut costs mercilessly on the things you don't," he wrote. "I don't care about driving a new car. I care about staying at luxury hotels and baby cashmere sweaters."
Sethi recommends that everyone takes the time to think about what their own version of a "Rich Life" looks like, instead of living by society's expectations of what this means.
"The more dialed in you design your Rich Life, the less it should make sense to other people," he said. "Remember: your Rich Life is yours, not anyone else's."
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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