Do you really want to be like Warren Buffett?
Warren Buffett is a super successful investor and businessman, age 93. He is majorly known for his investing strategies and his dozens of pieces of advice to those who want to become like him. But do you really want to become him? And if so, why? Most people want to become rich. The reasons vary though. Some want to be powerful, others successful and most of us want to feel safe and able to spend money without worrying about rainy days.
So, at first glance, Warren Buffett seems like a perfect role model for those seeking to be rich. His net worth is 118 Billion USD. Fantastic, but if you look closer there are some questions that you may want to ask to understand the situation properly.
No 1 when did Warren Buffett become wealthy?
Well, about 99% of his wealth was created after his 50th birthday. That means that the “Oracle of Omaha” didn’t get there overnight. So what that really means? Can you make it faster? Maybe you should start by asking yourself, what is your “want” number? Do you just desire a 7 figure bank account or do you have no ceiling like Warren?
No 2 why isn’t he retiring and enjoying spending his money on absolutely anything?
Warren Buffett’s passion is investing, like someone retires and plays golf for the rest of his days. He does not have any intention to stop. His goal is to win the investing game and then get better and better. That goal gave him the resilience to try so hard to become one of the most successful investors ever. Warren Buffett started his company in 1962 with 100USD of his own money and around 100.000 USD raised capital from other family members.
No 3 How much money is Warren Buffett spending?
Warren Buffett’s salary is $100,000 per year. He hasn’t had a raise in 40 years, and he gives half of it back to his company Berkshire Hathaway. So, his purpose was to make it rather than spend it. I do not claim he has a hard life, or he worries if he is going to be broke again one day. He could be literally swimming in gold, but he does seem to care more for tax avoidance rather than a luxurious lifestyle of overspending.
Now, if you think about wanting to become like Warren you will have to ask yourself. Do you want to become Warren rich? Do you share the same vision? What does rich really mean to you? If you answer honestly, then, you can set your goals and find a way to become whoever you want to be.
