Living Simple: Warren Buffet Way
There was a one hour interview on CNBC with Warren Buffet, the world second richest man who has donated USD 31 Billion to charity. There are some facts of his life that could bring inspiration to people. Including myself. Here are a couple of interesting aspects of Warren Buffet life:1. He bought his first share at age 11 and he now regrets that he started too late!
"Things were cheap that time.. Encourage your children to invest"
2. He bought a small farm at age 14 with savings from delivering newspapers.
"One could bought many things with little savings... Encourage your children to start some kind of business"
3. 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 that he has everything he needs in that house. His house does not have a wall or a fence.
"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.
"You are what you are"
5. He never travels by private jet, although he owns the world largest private jet company.
"Always think about how you can accomplish things economically"
6. His company, Berkshire Hathaway, owns 63 companies. He writes only one letter each year to the CEOs of these companies, giving them goals of the year. He never hold meetings or call them in a regular basis.
"Assign the right people to do the right jobs"
7. He has given his CEO's only two rules.
"RULE NUMBER 1:Do not loose any of your shareholders money"
"RULE NUMBER 2:Do not forget rule number 1"
"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 pop corn and watch television.
"Don't try to show off. Just be your self and enjoy what you enjoyed doing"
His Advice For Young People:
Stay away from credit cards (bank loans) and invest in your self. 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.
D. Don't go on brand name. Just wear those things that makes you comfortable.
E. Don't waste your money on unnecessary things. Just spend on the who really in need rather.
F. After all, it's your life. Why give chance to others to rule our life.
"The HAPPIEST people DO NOT necessarily have the 'BEST' THINGS. The simply APPRECIATE the things they have"
Let us choose a simpler and smarter way to live..
