WWII 022: Warren Buffett's Advice to Young People from His 1999 Speech
In this episode, I shine the light on a speech that Warren Buffett gave in 1999 in Omaha Nebraska. Buffett starts with some comments and then moves to some questions and answers. Here are some highlights from this speech.
When asked how young people should secure their financial future:
- Get full value for the talents and skills you already have
- Work on increasing your capacity for using these talents
- Most people go through life in a sleepwalk. If you don't, then you will stand out.
- Try not to incur debt
When asked what to do about student debt:
- You don't have to go to a top school to succeeed
- Most useful skills are self-taught and don't require a formal education
- Accounting is the most important class to take to secure your financial future
- Buffett once was locked into a library because he was so engrossed in what he was reading
What big economic problems will young people have to deal with in the future
- Average person lives better than the generation before in the United States
- The U.S. is a marvel in the world and you shouldn't bet against it.
- Savings enables people
- In the U.S., people have every opportunity to realize their potential
Money, to some extent, sometimes lets you be in more interesting environments. But it can't change how many people love you, and how healthy you are."
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