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Why 'Shark Tank' Investor Kevin O'Leary Refuses To Spend $2.50 On a Cup of Coffee (cnbc.com)
An anonymous reader shares a report: Kevin O'Leary has invested hundreds of thousands of dollars in small businesses over the course of his tenure as a star and investor on ABC's "Shark Tank." But there is one business to which he refuses to fork over his hard-earned dollars: coffee shops. "Do I pay $2.50 for a coffee? Never, never, never do I do that," O'Leary tells CNBC Make It. "That is such a waste of money for something that costs 20 cents. I never buy a frape-latte-blah-blah-blah-woof-woof-woof for $2.50." Instead, he makes it at home. "I drink coffee, one cup every morning," he explains. "It costs about 18 cents to make it, and I invest the rest." That idea -- saving small sums and investing continually -- is central to O'Leary's personal finance advice. "The truth is, there is a lot of crap you don't need," he explains.
If everyone followed his advice our Clown World economy would collapse.
So the man doesn't go out to eat at all? All restaurants and cafes and whatnot all have prices that inflated. I have a feeling he still eats out a lot and is nothing more than another hypocrite.
They both were locked into a serious battle in South Asian shampoo market. With all that might of P&G, HL was running circles around them
My niece is a big shot in that circle (now working for Estee Lauder India) she explained the basic difference. "There are women who can not afford shampoo. But once in a while something nice happens, and she feels great and feels like treating herself to luxury. That thirty cent sachet of shampoo is a luxury for her. She will never have enough to buy a whole bottle ever, and will balk at the cost of a bottle. But... on any given day there are about a million such women willing to buy a sachet of shampoo for 30 cents. I am selling 300K a day. 100 million dollars a year."
There are people for whom that 5$ coffee is a luxury they are treating themselves to. The American dream of owning a home and having a comfortable retirement is gone for them. They see themselves working till the day they are going to die. They see 80 year old grandmas trying to work as walmart greeters. From their perspective, "I have 5$ today, I am going to splurge!".
A country this great, this wealthy, with that much of despair among the young ...
sed -e 's/Chuck Norris/Rajnikant/g' joke > fact
His advice is reminiscent of the advice in "The Millionaire Next Door", with was a best seller back in the day. The point of that book is that real millionaires usually do not have extravagant lifestyles, that these little savings do add up over time. Or maybe Sam Walton, who lived in a modest ranch house and drove a pickup while simultaneously producing some of the most selfish children to ever walk the earth. They probably feel that they were deprived.
If you must moderate, please moderate as irrelevent, not something bad, because I'm sure someone will find this interest
That's just the man's personality. As someone once said about writing code in a certain scripting language, there is more than one way to do it.
Paying $3 for a cup of coffee every morning for 40 years = $43,800
Paying 20 cents for a cup of coffee every morning for 40 years = $2,920
That's a difference of over $40 thousand dollars. It's a hell of a lot more than that if you took that money and invested it over a 40-year span.
This is advice. Financial advice. And the hipster masses perpetually carrying around a caramel-drizzled fuckachino bitching about always being broke would probably be wise to listen.
Even if you like filtered coffee (which is about the cheapest to produce) then you get a much better cup if you grind your own beans, which means buying a grinder as well as whatever you're using to make coffee, which can add up to a hundred dollars or so. In contrast, tea can be made with just a ten dollar kettle.
A good certified drip brewer that brews fast enough to not make the coffee bitter easily costs a couple of hundred for the cheap models.
That said, one of the best methods of making great tasting coffee is using a kettle. It requires more attention to detail for the coffee to not turn out bad, and more work, especially cleaning, which is the main reason why it's fallen out of popularity. I don't see the average modren man making clearing skins or spending five minutes with a wire brush cleaning an S-shaped spout every morning.
I agree that McD's coffee has improved markedly in recent years. It's nice to be able to stop and grab what is at least a drinkable coffee without going miles off the throughway late at night. Dunkin' Donuts, however....that stuff is an elixir. The SO and yt drove from northern ME to SC fueled on DD coffee and the occasional burger.
"Truth is what works" -- William James "It works!!" -- o-dark-AM comment