A very rich person should leave his kids enough to do anything, but not enough to do nothing.
Interpretation
Wealth should empower children, but not create dependency.
Warren Buffett's quote emphasizes the importance of balancing inheritance with personal responsibility. He suggests that while wealthy parents should provide their children with opportunities and resources to thrive, they should also instill a sense of initiative and work ethic, ensuring that their children do not become complacent or overly reliant on inherited wealth.
In practice
In a discussion about family values and financial planning.
I have no views as to where it will be, but the one thing I can tell you is it won't do anything between now and then except look at you. Whereas, you know, Coca-Cola (KO) will be making money, and I think Wells Fargo (WFC) will be making a lot of money and there will be a lot - and it's a lot - it's a lot better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage and a few things like that.
If the world couldn't see your results, would you rather be thought of as the world's greatest investor but in reality have the world's worst record? Or be thought of as the world's worst investor when you were actually the best?
Cash never makes us happy, but it's better to have the money burning a hole in Berkshire's pocket than resting comfortably in someone else's.
I think you should read everything you can. In my case, by the age of 10, I'd read every book in the Omaha public library about investing, some twice. _x000D_ You need to fill your mind with various competing thoughts and decide which make sense.
The most common cause of low prices is pessimism - some times pervasive, some times specific to a company or industry. We want to do business in such an environment, not because we like pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer.
Oneβs objective should be to get it right, get it quick, get it out and get it over. Your problem wonβt improve with age.
I never had children, never even thought I would have children. Now I have 152 daughters; expecting 75 more next year. That is some type of gestation period.
He is her glory. Any woman could say it. For every one of them, God is in her child. Mothers of great men must have been familiar with this feeling, but then, all women are mothers of great men -- it isn't their fault if life disappoints them later.
Never forget the nine most important words of any family- I love you. You are beautiful. Please forgive me.
My mother was a woman who was very frustrated. She had a great deal of ability, and all this energy went into me and my brother.
Through devotion, your family cares become more peaceful, mutual love between husband and wife becomes more sincere, the service we owe to the prince more faithful, and our work, no matter what it is, becomes more pleasant and agreeable.
I don't think children's inner feelings have changed. They still want a mother and father in the very same house; they want places to play.
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