Think about it!
"I always knew I was going to be rich..
I don't think I ever doubted it for a minute"
- Warren Buffett
(2nd Richest man in the world)
1. He bought his first share at age 11 and he now regrets that he started too late!
His advice: Things are very cheap when you are young, encourage your children to invest
2. He bought a small farm at age 14 with savings from delivering newspapers.
His advice: Encourage your children to start some kind of business
3. He lives in the same small 3-bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says that he has everything he needs in that house. His house does not have an outside wall or fencing.
His Advice: Don't buy more than what you "really need" and encourage your children to do and think the same
4. He drives his own car everywhere and does not have a driver or security people around him
His advice: you are what you are.
5. He never travels by private jet, although he owns the world's largest private jet company
His advice: Always think how you can accomplish things economically.
6. His company, Berkshire Hathaway, owns 63 companies, He writes ONLY one letter each year to the CEO's of these companies, giving them goals for the year. he never holds meeting or calls them on a regular basis.
His advice: Assign the right people to the right job
7. He gives the CEO's only 2 rules
- Rule! - Do not lose any of your shareholders money
Rule 2 - don't ever forget rule 1
His advice: Set goals and make sure people focus on them.
8. He does not socialize with the high society crowd. His past time after he gets home is to make himself some popcorn and watch TV
His advice: Don't try to show off, just be yourself and do what you enjoy doing
9. His advice to young people
"Stay away from credit cards /bank loans and instead invest in yourself and remember
A. Money does not create man, but it is the man who created money
B. Live your life as simple as you are
C. don't do what others say, just listen to them, but do what you feel good.
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