The 2nd Richest Man in the World's Advice to Young People

Just this morning, I read a link that was shared by my sister about the 2nd Richest Man in the World--Warren Buffet and got inspired on how simple he is. Actually, I really admire him on how he thinks, how he creates his own life and his conviction on things he believes in. And now, I'd like to share with you the exact words for you to know him more.

There was a one hour interview on CNBC with Warren Buffet, the world's second richest man who has donated $31 billion to charity. 



Following are some very interesting aspects of his life: 

1. He bought his first share at age 11 and he now regrets that he started too late! 
Things were very cheap that time. Encourage your children to invest.


2. He bought a small farm at age 14 with savings from delivering newspapers. 
One could have 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's largest private jet 
company.
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 CEOs of these companies, giving them goals for the year. He never holds 
meetings or calls them on a regular basis.
Assign the right people to the right jobs.

7. He has given his CEO's only two rules. 
           Rule Number 1: Do not lose any of your shareholder's 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 popcorn and watch television.
Don't try to show off, just be yourself and do what you enjoy doing.

9. Warren Buffet does not carry a cellphone nor has a computer on his desk.

10. Bill Gates, the world's richest man met him for the first time only 5 years ago. Bill 
Gates did not think he had anything in common with Warren Buffet. So he had 
scheduled his meeting only for half hour. But when Gates met him, the meeting lasted 
for 10 hours and Bill Gates became a devotee of Warren Buffet.


His advice to young people
"Stay away from credit cards (bank loans) and invest in yourself and Remember:
A. Money doesn't 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 thing in which you feel comfortable.
E. Don't waste your money on unnecessary things; just spend on them who really in
need rather.
F. After all it's your life then why give chance to others to rule your life."

"The HAPPIEST people do not necessarily have the 'BEST' things. 
They simply APPRECIATE the things they have."

Let us choose a simpler and smarter way to live.


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