He bought his first share at age 11 and he now regrets he started too late. (things were very cheap, encourage your children to invest)
He bought a small farm at age 14 with savings from delivering newspapers (one could have bought many things with little savings…encourage your kids to start some kind of business)
He still lives in the same small 3 bedroom house in mid-town Omaha, that he bought after he got married 50 years ago. He says he has everything he needs from that house. (don’t buy more than you “really need” and encourage your children to do and think the same)
He drives his own car everywhere and does not have a driver or security peple around him. (You are what you are)
He never travels by private jet, although he owns the largest private jet company. (Always think how you can achieve things economically)
His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEO’s of these companies, giving them their goals for the year. He never holds meetings or calls them on a regular basis. (Assign the right people to the right jobs)
He has given his CEO’s only two rules:
Rule Number 1: Do Not loose any of your shareholder’s money Rule Number 2 : Do not forget Rule Number 1
He does not socialize with the high society crowd. His past time when he gets home is to make himself some popcorn and watch television. (Don’t try to show off, just be yourself and do what you enjoy doing)
His advice to young people”
Stay away from credit cards
Live your life as simple as you are
Don’t do what others say, just listen to them, but do what you feel is right
Don’t waste your money on unnecessary things
The happiest people do not necessarily have the best things, they simply appreciate the things they have.
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