Singer Akon offers valuable advice on wealth management, emphasizing the importance of frugality to maintain financial prosperity. During his appearance on the latest episode of the Impaulsive podcast, where he referred to himself as ‘very stingy,’ Akon shared his insights.
He stressed, “To remain wealthy, it’s crucial to be thrifty. I’m perhaps the most frugal person on Earth.”
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Akon also issued a caution to fellow music stars and celebrities regarding the ownership of private jets, highlighting their exorbitant maintenance costs. He revealed, “I once tried owning a private jet, but I quickly sold it after just six months. Instead, I recommend purchasing flight hours and using the jet sparingly, primarily as a negotiating tool. However, never make the mistake of owning one.”
He explained that owning a private jet entails annual expenses of two to three million dollars solely for maintenance, surpassing the initial cost of the jet itself. Akon’s advice to everyone is this: “The money you possess today should sustain you for a lifetime. When you adopt this perspective, your financial management strategies will evolve accordingly.”
The source of this story, “If you want to stay rich, stay stingy – Akon” is Vanguard. Read more.