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."

Warren Buffett
Berkshire Hathaway

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Thoughts on this podcast? Disagree with me on some point? Something I missed? Leave a comment!

About the Author

Jeremy Scott Bailey is an investor, author, entrepreneur and host of the "What Works In Investing?" podcast now available on iTunes. He is founder and Chief Investment Officer of Burgeón Group, Inc. an investment advisory firm that provides portfolio management services to families and individuals.

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