Making money

Someone once asked Buffet, when did you know you were going to be rich?

He responded:

“I really knew I was rich when I had $10,000. I knew a long time ago that I was going to be doing something I loved doing with people that I loved doing it with.”

Warren Buffet

‘In 1951, Warren Buffett had accumulated $10,000 at 21 years old. Adjusted for inflation, $10,000 in 1951 was the equivalent to $90,057 today. It wasn’t excessive wealth by any means, but it was capital that Buffett would work tirelessly to compound.’ source

When people ask me, why do you think financial success inevitable?

I tell them something similar. If I’m capable of making $x amount than I’m inevitably capable of more as long as I keep growing.

I believe wealth accumulated is a false proxy for ‘success.’

My definition of ‘success’ is in line with Buffet’s:

As depicted in Buffett’s biography, “The Snowball: Warren Buffett and the Business of Life,” Buffett once was asked by Georgia Tech students about his greatest success and greatest failure, to which he responded: “When you get to my age, you’ll really measure your success in life by how many of the people you want to have love you actually do love you.” He adds, “I know people who have a lot of money … but the truth is that nobody in the world loves them….that’s the ultimate test of how you have lived your life.” Buffett nails it with one final statement on the secret to being loved: “The trouble with love is that you can’t buy it … The only way to get love is to be lovable … The more you give love away, the more you get.”

Marcel Schwantes, Inc

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