The Money Mustache Community
General Discussion => Welcome and General Discussion => Topic started by: moonpalace on January 11, 2018, 11:08:37 AM
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https://kottke.org/18/01/warren-buffetts-daily-breakfast-allowance
He chooses between three McDonald's options each day, all costing less than $3.17.
Classic quote: "when I'm not feeling so prosperous, I might go with the $2.61"
This is part of how you get to a SWR of $9.2 million per day.
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
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Genetics plays a great deal in this. I've seen many articles of people over 90 who drink and smoke everyday and don't exercise.
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
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Genetics plays a great deal in this. I've seen many articles of people over 90 who drink and smoke everyday and don't exercise.
My 92 year old grandmother is proof of this - on average a poor diet, smoking and lack of exercise will cut your lifespan considerably. But its all averages.
WB beat the SP500 something like 44 out of the last 52 years, and half of those years were by more than 3%... something that's incredibly improbably based on the averages.
Some guys just aren't average.
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I feel like my 68 year old mother would say the same thing about her daily mcdonald's habit, and she is definitely no Warren Buffet!
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This is the dumbest quote I've read all week. If I ate McDs every morning I'd have diarrhea all day every day. Not good for increasing my SWR.
ETA - I realize the spirit of this is about not spending a lot of money vs. eating McDs being the secret to wealth, but of all WB's "folksyisms" I've heard this one is the dumbest.
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The strangest part about this is that Warren Buffet gets all of his McDonald's food for free anyway, so it doesn't even cost him $3.17.
http://www.businessinsider.com/story-behind-mcdonalds-gold-card-2016-11 (http://www.businessinsider.com/story-behind-mcdonalds-gold-card-2016-11)
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There are some strange aspects of Warren Buffet's personal life. The McDonald's breakfast is only the beginning. If he were a child today he would likely be found "on the spectrum" or at least tested for it. Interesting documentary on him:
http://www.imdb.com/title/tt6438096/
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https://kottke.org/18/01/warren-buffetts-daily-breakfast-allowance
He chooses between three McDonald's options each day, all costing less than $3.17.
Classic quote:
This is part of how you get to a SWR of $9.2 million per day.
Oh this is such a fun find, @moonpalace
Love the classic quote "when I'm not feeling so prosperous, I might go with the $2.61". That jumped out at me more than anything else. I thought - oh la la, WB put feeling and discretionary expenses in one sentence.:) You gotta love that man:) he seems to be an exception to the rule in so many ways, including better than average genes.
Actually, he is just like my 95 yr old neighbor who loves her Twinkies and a bunch of other stuff that isn't remotely "healthy" eating.
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Breakfast is the best meal at McDonalds! Their oatmeal is way better than Starbucks, for instance.
But my paternal grandfather drank like a fish, had black lung, liver a darned hard life - and lived to his late 90s with all his marbles. He walked down to the Post Office to get his mail every day until the day he died in his sleep in his own bed.
My maternal grandfather died of cancer in his late 60s - never drank, never smoked, exercised.
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
He's been quoted as saying he consumes 750 calories (5 cans) worth of coke each day.
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
He's been quoted as saying he consumes 750 calories (5 cans) worth of coke each day.
Damn, really? How does he keep his teeth from rotting?
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
He's been quoted as saying he consumes 750 calories (5 cans) worth of coke each day.
Damn, really? How does he keep his teeth from rotting?
Just a guess, but an 82 year old.... I'm thinking dentures.
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
He's been quoted as saying he consumes 750 calories (5 cans) worth of coke each day.
Damn, really? How does he keep his teeth from rotting?
Just a guess, but an 82 year old.... I'm thinking dentures.
LMFAO... he must have boxes of denture cleaners to keep them white.
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And he drinks coca-cola regularly. He's got the brains for business, and he has the genetics to make up for his lack of brains regarding nutrition. If only we could all be so fortunate:)
He's been quoted as saying he consumes 750 calories (5 cans) worth of coke each day.
Damn, really? How does he keep his teeth from rotting?
Just a guess, but an 82 year old.... I'm thinking dentures.
LMFAO... he must have boxes of denture cleaners to keep them white.
well as I recall he did own a crap ton of GalaxoSmithKline (maker of Polident denture cleaner) at one point. He also has a large stake in Proctor and Gamble (which includes among its holdings Oral B & Crest).
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I watched the documentary, I thought the McDonald's thing was neat. It's just a window into his personality, that despite immense wealth, he still has cost in mind even when making seemingly small decisions. From everything I have read or seen about him he practices what he preaches, when it comes to his advice on how to have happiness in life.
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I would never spend $3 a day on breakfast... $86 billion NW here I come?
(Seriously though. $90 a month?!)
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I have nothing against MickyD’s at all, but if I had that much money I wouldn’t worry about 3 dollar breakfasts. One thing I do enjoy is food and I would be enjoying food. Not to say I wouldn’t go to mickyd’s at all but I wouldn’t keep scrimping. He is just frugal by nature, nothing wrong with that.
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Just a guess, but an 82 year old.... I'm thinking dentures.
With the money Buffet has, the dude could buy somebody's teeth and have them implanted.
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I watched the documentary, I thought the McDonald's thing was neat. It's just a window into his personality, that despite immense wealth, he still has cost in mind even when making seemingly small decisions. From everything I have read or seen about him he practices what he preaches, when it comes to his advice on how to have happiness in life.
This was really the only point I was trying to make. I just thought it interesting that he's still price-conscious at all, particularly at the pennies-and-nickels level.
I definitely was *not* trying to make some sort of pro-McDonald's or pro-eating-at-restaurants statement! :-)
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I had McDonald's breakfast on a business trip this weekend.it was both disgusting and nearly $5. (I only got a bacon, egg, and cheese bagel.)
Hardens bacon egg and cheese biscuit is $1.79 and delicious, but the company comes across as ridiculously misogynistic.
Eating at home is way cheaper still.
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I have breakfast at McDonalds twice a week with 3 or 4 other people.
I generally have a breakfast burrito (egg and sausauge) and coffee.
It's around $2.40. Occasionally I splurge and get the now, lower in price,
Egg Mcmuffin meal for around $3.50.
A nice bit of socializing, but they start at 6am. To early!!
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The strangest part about this is that Warren Buffet gets all of his McDonald's food for free anyway, so it doesn't even cost him $3.17.
http://www.businessinsider.com/story-behind-mcdonalds-gold-card-2016-11 (http://www.businessinsider.com/story-behind-mcdonalds-gold-card-2016-11)
Love it! Thanks.
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You people just decreased my net worth by $4.
....shuffles off to McDonald's....
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
His legendarily awful eating habits are good for dozens of laughs over the course of his 800 page authorized biography. He has primarily lived on a diet of burgers, fries, ice cream and cherry cola since boyhood. He argues that as long as his daily caloric intake is reasonable, it makes no difference whether he gets those calories from three healthy meals or one giant bowl of ice cream.
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I rarely ever eat McDonald's -- maybe 1-2x/year, but for the haters out there, Egg McMuffins are DELICIOUS! And not all that terrible for you, really (probably nitrates in the Canadian bacon, but shit if you ain't eating it every day . . .).
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
His legendarily awful eating habits are good for dozens of laughs over the course of his 800 page authorized biography. He has primarily lived on a diet of burgers, fries, ice cream and cherry cola since boyhood. He argues that as long as his daily caloric intake is reasonable, it makes no difference whether he gets those calories from three healthy meals or one giant bowl of ice cream.
I like his thinking and agree. If your calories are in check then so are your portions.
Just to be clear I was not picking on McDonalds, I eat there myself. I was just saying I wouldn't be scrimping with billions in my pocket, too much good food out there. ....but really respect the fact it is in Warrens nature.
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He is a cheap ol' fella. When I had my cleaning company in Omaha I would sometimes be checking my girl's work at his friend Sharon's house. He goes there a lot to play cards. As far as talking to him, he is just the average old guy in Omaha. If you've lived in Omaha you kinda know what I mean. That was in a private setting away from the public though. He was always nice to me at Sharon's and also at his office. He is CHEAP though. I was also to one of his offices on Harney street in Omaha on business on several occasions and I didn't see a coke fountain. I did see him with can coke..... Sharon furnished that so he didn't have to pay for it.
I ate at McDonald's yesterday and it was great! Biscuit with egg & sausage. Ate at Jack In The Box today, just as good. I've been to black tie dinners that cost thousands of dollars and to tell you the truth, most of the time I'd rather have McD's biscuit with egg & sausage, I guess the same holds true for WB.
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
My great-grandfather mixed lead arsenate insecticide by hand, which he sprayed on his tobacco crop from a cab-less tractor, and lived to 92. He used to come in from spraying crops completely black from head to toe from the mixture of pesticides and dust. Don't think there's anything in McDonald's that comes close to lead arsenate as far as long-term health effects.
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
My great-grandfather mixed lead arsenate insecticide by hand, which he sprayed on his tobacco crop from a cab-less tractor, and lived to 92. He used to come in from spraying crops completely black from head to toe from the mixture of pesticides and dust. Don't think there's anything in McDonald's that comes close to lead arsenate as far as long-term health effects.
LOL, well that settles the debate.
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I call bullshit. You don't live to age 87 by eating mcdonalds for breakfast every day.
His legendarily awful eating habits are good for dozens of laughs over the course of his 800 page authorized biography. He has primarily lived on a diet of burgers, fries, ice cream and cherry cola since boyhood. He argues that as long as his daily caloric intake is reasonable, it makes no difference whether he gets those calories from three healthy meals or one giant bowl of ice cream.
I like his thinking and agree. If your calories are in check then so are your portions.
Just to be clear I was not picking on McDonalds, I eat there myself. I was just saying I wouldn't be scrimping with billions in my pocket, too much good food out there. ....but really respect the fact it is in Warrens nature.
I think this is the bigger point being made. Whether or not you agree that McD's is a good idea, even as a billionaire he still sticks to a personal budget.
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I would never spend $3 a day on breakfast... $86 billion NW here I come?
(Seriously though. $90 a month?!)
I'm reminded of something I heard on a podcast once that I thought you guys might get a kick out of. The hosts were discussing their college days in which they "struggled". To their credit, both admitted that they're the children of high paid professionals and that struggle is relative. To the point though, one host talked about how he put himself on the "5-10-20" plan. That is, $5 for breakfast, $10 for lunch, $20 for dinner.
$35 a day on food!? Maybe that wasn't hard and fast. But even at half that, that's still over $6K a year on food during his self-described struggle days. I have a six figure income and it is a treat if I go over $10 in one day on food.
It really put into context for me, both wastefulness, as well as how many middle and upper-middle class people can be aloof of what real financial challenge is like.
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And I don't think McDonald's breakfast is really all that bad. Just bread, cheese, egg, and maybe some cheap sausage. I'd advise against eating McDonald's all day, every day, but you have to pick your spots. If Warren picks a McDonald's breakfast, so be it.
For me, it's dinner where I give myself healthiness flexibility. Breakfast and lunch are the same every day. Oats and salad.
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Also, when I’m 87, I’m agonna eat whatever I damn well please.
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This is the kind of stuff the prez eats, right?
A recent book co-authored by Corey Lewandowski, Trump’s former campaign manager, revealed Trump had “four major food groups during the campaign: McDonald’s, Kentucky Fried Chicken, pizza, and Diet Coke.” He also enjoys a well-done steak, doused in ketchup.
from here https://qz.com/1177604/these-are-donald-trumps-uh-unorthodox-views-on-diet-and-exercise/ (https://qz.com/1177604/these-are-donald-trumps-uh-unorthodox-views-on-diet-and-exercise/)
Warren Buffet likes McD's and coke because they are great companies. I almost wonder if President Trump has a bit of a man-crush on Warren...
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Buffet likely won the genetic lottery, has a low stress level and the best doctors money can buy. Doesn't mean he's a great example of how you should eat, haha!