How Warren Buffett Helped Me—and Can Help Your Kids, Too
Hey there! Welcome back to Founder Mode!
Last week, Warren Buffett, one of the best investors of all time, said he is retiring. It's big news. I've followed Buffett closely for years. Today, I want to share why he matters and how his ideas can help you—and your kids.
I’ve invested in Buffett’s company, Berkshire Hathaway, for a long time. I've gone to Omaha many times for his yearly shareholder event. They call it the "Woodstock of Capitalism." Many people come together to hear Buffett’s advice on money, investing, and life.
Looking at this chart reminds me how investing patiently and wisely can pay off greatly over time.
Here's what I learned from Buffett. These lessons have shaped how I think about money and investing.
5 Key Lessons from Warren Buffett
1. Be Patient
Buffett teaches us to think long-term. He often says, “Our favorite holding period is forever.” He doesn't chase quick wins. He looks for solid businesses that will grow at a steady and slow pace over time. I've applied this idea to my own investments. It keeps me calm, even when the market is shaky.
2. Invest in What You Understand
Buffett says you should invest only in companies you know well. He doesn’t jump into trendy investments. He chooses simple, stable companies he knows well. I follow this advice, too. It helps me avoid risky decisions.
3. Spend Wisely, Save Consistently
Buffett is famously careful with his money. He still lives in the same modest house he bought decades ago. He believes in living below your means. I strive to follow this example. Spend less than you earn. It’s one of the easiest paths to financial success.
4. Reputation Matters Most
Buffett says, “It takes 20 years to build a reputation and five minutes to ruin it.” He reminds us that trust and honesty matter. I always keep this lesson in mind in business and in life. Reputation is priceless.
5. Learning Never Ends
Even at 93, Buffett never stops learning. He spends hours each day reading and learning new things. He believes constant learning is the secret to success. I’ve adopted this habit in my own life. It helps me grow personally and professionally.
Teaching Kids About Money, Buffett-Style
Buffett isn't just good at investing. He cares deeply about teaching money skills to kids. He co-created a kids' book and a video series named "Secret Millionaires Club."
The series gives kids key lessons about managing money. They learn about investing and saving. They also learn to make smart choices. It’s a fun, simple way for kids to learn important financial lessons early in life.
Too many people learn about money too late. Buffett believes we should start early. When kids learn about money, saving, and investing now, they can do better in the future.
How You Can Start Teaching Your Kids Today
- Start with Simple Saving: Teach your kids to save a little bit of money regularly. Even a small piggy bank can teach valuable lessons. We used
for our kids. Now they are older. Apple Pay / Apple Card works better with an age-appropriate Chase account.
- Be Open About Money: Talk about earning, spending, and saving ideas. Make these conversations normal and comfortable.
- Get Started with Investing Early: You can buy a little stock together. Watch it grow over time. Explain how businesses work.
- Read and watch Buffett’s "Secret Millionaires Club" with your kids. Enjoy it together! It's entertaining and educational.
- Lead by Example: Kids copy what they see. Show them you handle money responsibly, and they will learn to do the same.
Why Buffett’s Retirement Matters
Buffett retiring marks the end of an era. But his lessons will continue to inspire us for years to come. His wise advice can reshape your family’s financial future.
I highly encourage you to explore Buffett’s lessons with your kids. Give them the financial education many of us never had. It is one of the best gifts you can give.
Final Thoughts:
Buffett has shown me how important it is to be patient, wise, and disciplined with money. He made complex ideas simple. He reminds us to keep learning and stay humble.
Teaching kids these lessons early gives them an edge. Let’s give our kids the financial tools we wish we'd had. Buffett's lessons are a great place to start.
If you enjoyed this, please share it with a friend or family member who can benefit.
P.S. For next week, I’m working on my 2025 Startup Guide with the process and tools I use to start new companies. It will help your business get off on the right path and make you a little more productive. Stay tuned!
See you next week,
-kevin
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