Saturday, March 5, 2016

Buffett's Advice to Young People



Dear readers, I will be away for the next 3 months studying for an exam. I see some of you have left comments – I will respond to you in June.

In the meantime, I’d like to leave you with a speech given by Warren Buffet to a young audience. The video is almost 20 years old but the advice is timeless. Some of the key takeaways:
  • Qualities of great employees: integrity, intelligence, and energy. You must have integrity in order for the others to matter. 
  • The importance of forming good habits at a young age in order to develop into the kind of person you most admire. 
  • Do what you love, not what makes you the most money
  • Stay out of debt and live frugally. Compare two people: one with net credit card debt of $10K paying 18% while another has net savings of $10K growing at say 8% over the long-term. You want strive to become the latter at an early age. 

Enjoy!