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« Financial Questions to Discuss Before Marriage | Main | When Should Your Net Worth Reach $1 Million? »

March 03, 2010

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I completely agree with his point about investing in yourself. One way I've been trying to do that is by watching a lot less tv, and reading good books during those times instead.

So many people say they'd love to read more books if only they had more time. But if you cut out tv or other less valuable activities, then you CREATE more time.

Very admirable thing that Warren's trying to do!

Warren is a stock market rock star!

I wish I read this list when I was in high school or even junior high!

I agree with Darren, please stop wasting your life watching lame show on television!

Of course, Warren Buffett is 100% right.
The only thing I would add is that you have to try to recognize "what" you are good at and "what" you enjoy doing as early as possible in life. Then, if that "what" that you like and are good at can provide a good way to earn a living and succeed in life then you know just where to set your sights and "what" to aim for.
In my own case it was an early grade school teacher that sparked my interest in Mathematics. She made it so interesting that I just couldn't get enough of it - there was never enough homework to satisfy me. Each set of homework provided the same enjoyment and satisfaction that many people get from solving puzzles or playing video games. The great thing about Mathematics is that there are no grey areas, there's only one correct answer for every problem which is why I liked it and why it played a major role in my career. There are also many careers for people that excel at Math. I have carried that philosophy over into other areas which I why I see things as Black or White and am not known to be wishy washy on anything. For example, I either love an investment or I hate it, there's no in between.

I used to think Mom's biscuits were special, because she said she put a secret ingredient in them. Years later I asked her what the secret ingredient was, and she said it was “love.” Right then I felt like the biggest sucker in the world. After reading WB's advice, I bet you do too.

Awesome advice from Warren Buffett! With these words of wisdom coming from one of the wealthiest people in the world, it only behooves us to listen to it and take action.

I think it's real easy to fall in love with a product rather than the process and plan. As we develop our financial intelligence, we become the greatest asset. Financial products are only as good as the people utilizing them.

Warren Buffett is like father of stock market, he help save stock market during recession period. He is our stock market rock star

Excellent advice. Especially something that young mothers need to pay attention to.

I hear all the time about young womens' erroneous "zero sum" calculations----"I can't hardly pay the daycare if I work, so I'm staying home for the next 10 years". The problem is they aren't investing in their careers during that time, and that irreversibly damages their later ability to earn income (to support themselves in a satisfying job that they enjoy doing). And many of these women will end up in the job market later even if they plan to be a "stay at home mom" forever. Divorce is very common and most families need 2 incomes especially when the kids aim to go to college.

I debated about whether I should insert my comment regarding staying at home with newborns and toddlers versus "investing in my career." I can unequivocally say that I would have never been able to proceed with anything worthwhile in my life after the birth of my children if I had not stayed at home with my daughters at least until they were three to four years of age. I returned to work even though our family lived very frugally. But those few years off were the best, an investment in my soul, if you will and hopefully, provided some kind of investment in the lives of my girls. After all, the truly finer things in life are immeasurable. That's my take on this.

@ross: HAHAHAHAHAHAHAHAHAHAHAHA!!!
I agree that "invest in yourself" sounds a bit vague and cliché, and doesn't hit home. So let's try to make this specific. One example I can think of is FMF's MBA or any ticket that will improve your career prospects, or taking on an additional responsibility at work or in your community that will teach you something you want to learn, or allow you to meet interesting people.

The key is of course knowing what it is you're after. And that's not easy: I'm having a hard time right now coming up with things I want to learn. Improved social skills - that's one.

But, what else?

FMF, how about a blog post prompting the readership: how would you invest in yourself?

Great advice and I want to start by changing my name, achieving more education and bettering my communication skills. If only someone would invest in my education.

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