Extreme frugality is the secret to early retirement, but to one billionaire frugality is the way of life. Frugal billionaire Ingvar Kamprad, founder of furniture chain Ikea, normally stocks up his wardrobe at flea markets to save money. “I don’t think I’m wearing anything that wasn’t bought at a flea market,” Kamprad says in an upcoming documentary for Swedish television. He also prefers cheap haircuts as he told a Swedish newspaper Sydsvenskan: “Normally, I try to get my haircut when I’m in a developing country. Last time it was in Vietnam.” Kamprad, who turns 90 on March 30, said penny-pinching helped Ikea’s success. It probably also helped him to amass a net worth of more than $40 billion, according to a Bloomberg estimate. (afp.com)
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