I don’t know if there is a more polarizing team in sports. Love them, hate them, love to hate them, or hate to love them, the Dallas Cowboys are of course Americas team. And over the past 25 years they’ve been under the reign of outspoken owner and general manager Jerry Jones.
Yesterday was actually the 25th anniversary of Jerry Jones purchasing the Cowboys. There have been ups and about 18 years of mediocrity. But say what you will about the man in regards to his football knowledge, he knows how to handle money.
He told a story yesterday about a time just after he stroked a check for $150 million to buy the Cowboys. He and several staff members hopped on his personal jet and flew to his hometown. When they stepped off of the plane, a 5 year old beat up Bronco was waiting for them to drive to the ranch. A confused staff member said, “Jerry, this doesn’t make sense. We just got off of your private jet and now we’re riding in an old beat up Bronco.”
Jerry’s response tells a lot about how he has built his wealth and how you should too.
“You can’t have it all. Sometimes you have to drive a 5 year old Bronco to have a private jet.”
Now you may be thinking that there is no way a 5 year old Bronco compares to a beat up jalopy. But remember, this is a man who could afford pretty much any car on the market. He just bought America’s team. But he understands the importance of sacrificing certain things to be able to chase after other dreams that he has. Apparently driving a 5 year old truck was one of those sacrifices.
So what about you? Are you making any sacrifices now to reach the dreams and financial goals you have 5 years from now?
Let’s play my favorite game, hypotheticals.
10 years from now would you rather have:
- A brand new Range Rover and Corvette in your driveway, a good size house, your kids in private school, and $10,000 in the bank?
- 2 reliable 8 year old car with 100,000 miles, a paid off house, healthy and smart kids, and $300,000 in the bank?
Remember you can’t have it all. Which one would you pick? Tell me your thoughts in the comments.