Warren Buffet's financial advice - YouTube video

[caseyc]

Although the audience is mainly a younger crowd, Warren Buffet's 1 hour talk and Q&A session is useful for anyone, including those who are van dwelling.

 

[Donedirtcheap]

You got that right. You cant say it better than that. People will say OH ITS EASY for him to say hes rich!!! But in reality its very simple in many ways. I have had older people tell me that they cut up all their credit cards and it baffles me. You should be able to have a thousand credit cards in your pocket and no tput one dime on them. They are not money, they are an EXCHANGE or REPRESENTATION of money. If I dont have the money to pay for the item I dont put it on a charge card. Its just a way to manage or transfer your money.
Everyone of us is a small business. How will you manage your business? Will you smoke and literally burn your profits? Will you buy frivolous items and squander the profits? Will you be drunk and not go to work and reduce the business income?

That's one of the most important links that has ever been posted here.

 

[caseyc]

Glad you liked the video. I was browsing various videos on YouTube and happened to come across that one. I ended up watching the whole darn thing for an hour and found it informative and even entertaining.

I know that young(er) members on this forum periodically ask questions about what they should do with their future, and just watching Warren Buffet's video should hopefully give them a better sense of direction.

I found it amusing that Warren Buffet routinely poked fun at Bill Gates during the video, all in good jest of course.

 

[Donedirtcheap]

It was an interesting point he made near the end about "If you could design the world". Something to ponder.
You know whats most amazing is that hes no smarter than anyone else really, and he points that out. I have worked with people who couldn't sign their names but they worked hard and did the right things and became pretty well off.

You tube is endless isn't it.

 

[caseyc]

I liked the part when he said that the average person of average wealth living in the United States today is better off than a rich person hundreds of years ago (rough paraphrase). Plus that we have already won the lottery by being born in the United States and living the life here versus any number of poor countries around the world. Helps to put things into perspective and to be grateful for what we have in life versus many around the world that have less, even far less.

 

[Donedirtcheap]

I liked the part when he said that the average person of average wealth living in the United States today is better off than a rich person hundreds of years ago (rough paraphrase). Plus that we have already won the lottery by being born in the United States and living the life here versus any number of poor countries around the world. Helps to put things into perspective and to be grateful for what we have in life versus many around the world that have less, even far less.

Right on. That link is on its way to my 23 yr old kid.

 

[Drifted_Cowboy]

Edited

 

[LeeRevell]

I liked the part when he said that the average person of average wealth living in the United States today is better off than a rich person hundreds of years ago (rough paraphrase). Plus that we have already won the lottery by being born in the United States and living the life here versus any number of poor countries around the world. Helps to put things into perspective and to be grateful for what we have in life versus many around the world that have less, even far less.

This was brought home to me in my Navy days. I traveled to other countries, and they considered us 'poor' sailors RICH! I realized that the poorest Americans have things these folks couldn't dream of..... a car, a solid home, food every day, education for their kids, a TV and a cell phone, etc., etc. And with all the programs and give-aways in our society, anyone bemoaning their being 'poor' is simply too lazy to 'play the game'.