Joseph Kennedy was a big supporter of Hitler, and a big womanizer, so I have a hard time thinking of him as 'wise'.
It's fine to drive an old car and live frugally - which is what I generally do - but like all things you need to exert some judgment into the process. It doesn't do a lot of good if you live an austere lifestyle and die with millions of dollars that get blown by your bratty nephew in Rhode Island.
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