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Warren Buffett explains the difference between rich and wealthy. He elaborates on the “levels of wealth” and explains what really makes a person wealthy. Mr. Buffett says that after a moderate level, money makes very little difference in the quality of life!
The question goes: “In response to an earlier question, you spoke of people being rich and very, very rich. It seems to me there’s a difference between being rich and being wealthy. I assume you consider yourself to be both. Which is the more important to you?”
From Berkshire Hathaway Annual Shareholders Meeting. (1999)
Warren E. Buffett is an American long-term investor, philanthropist, business tycoon, and the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth over 100 billion dollars. Buffett was born in Omaha, Nebraska. He developed an interest in business and investing in his youth and made truly incredible stock market returns over his career.
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Warren Buffett Brilliantly Explains Levels Of We
Views : 783,949
Genre: Education
Date of upload: Sep 13, 2021 ^^
Rating : 4.788 (638/11,412 LTDR)
RYD date created : 2022-04-09T09:07:28.547764Z
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YouTube Comments - 566 Comments
Top Comments of this video!! :3
Respectable that he asks for complete clarity before answering a matter. That's a high-level skill.
73 |
What they didn't mention:
Being rich gives you security, healthcare, and the freedom to work less and do more (be it travel, hobbies, culture, parenting, or anything else). It also allows you to provide all of that for the next generation. And on top of that it gives you power and influence over the people around you and the society you live in.
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Too me, being wealthy is having financial security at what ever level you are content to live in.
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He's down to earth and real about his talk, he's never flashy, he's not driving a lamborghini, Ferrari or bugatti or all of them. He's someone you can drink coffee and talk.
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When you invest you're buying a day you don't have to work
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Buffett may be my favorite billionaire. He has good values. Most billionaires, most people for that matter, do not have good values.
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What does wealth give you
1. A comfortable life
2. A confidence
3. Choices
4. Better travels
5. No vulnerability
6. Less compromises
7. Less anxiety about debt
8. Better health care
9. Affordable justice
10. Safety and security
11. Freedom
12. More time
13. More opportunities (for business and fun)
14. Better life style
15. Overall better well being
16. Better education
17. Power, influence, social status
18. Better outlook on the future
19. Choosing who you want to be with
20. Less overall struggles especially if any issue or problem could be solved with money
What it does not give you is
1. Health (but you can afford great healthcare)
2. Ethics (but you won’t “need” to steal, lie or cheat)
3. Love (but if you are wise you will know who to be with”
4. Big challenges that will give you the satisfaction of self growth (although you can set new bigger and better goals)
Can you add to these two lists?
311 |
I'd go with the Chris Rock version. Rich is lots of money, wealth is lots of money-generating assets. As he said "Shaq is rich - the guy that owns the team is wealthy."
37 |
Buffett always says that the people who you work with are one of the most important parts of your work life. I totally agree with that. And, more.
27 |
I agree with Warren Buffett!! Your health is the most important thing! That’s one of the most important and best definitions of wealth. This way you’ll be alive to see the magic of compound interest
75 |
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.
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When people mention Buffet, they usually associate him with money, so never listened to him before. What I find to be his most remarkable trait is his humility, quite a contrast to others of his status. Super easy to listen to and full of wisdom!!!
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Health is wealth. These men are well grounded and know the real wealth is good health and loving family and satisfaction from work
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The more wealthy you are, the easier it is to avoid people you find unpleasant, particularly in whatever line of work you're in. In that regard, money does equal happiness.
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I use to want to be a millionaire and I guess I still do. I use to want to win the lottery. I received a large sum from my father and brother passing which sent me into a huge depression. I blew 100k on stupid shit and I spent mindlessly as if my poor quality habits were exaggerated. I realised I had absolutely no discipline, I had a lot of guilt, my ego was like a wild animal, I became out of control materialistic, shoppaholic. All my mental issues raised to the surface. Once I lost it all, I became scared of having money. So until that deprivation taught me how important money is and how to truly appreciate it, I disciplined myself, changed my foundations and studied money, became a minimalist and I choose wonderful experiences over stuff. Found a new respect for money and I became an emotionally stronger person. My spiritual wealth is greater.
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Being wealthy means, you never have to depend on a job, or worry about your comforts. Health is your most important wealth.
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I'd love to sit with Warren and have an intelligent conversation with him. I've followed him for many years and I love his wisdom. This is very rare with business owners who are in the game more for the money and not because they actually enjoy what they do. What a great organization to work for. Every business owner should learn about Warren Buffett and digest his insights.
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I have been watching some videos and I was thinking about investing in bitcoin or forex , but still don't know where to start from, any recommendation?
23 |
Your best video yet! No animations :) thank you for listening :)
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