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.
Parents, what are your children learning from your worship? Do they see the same excitement as when you go to a basketball game? Do they see you prepare for worship as you do for a vacation? Do they see you hungry to arrive, seeking the face of the Father? Or do they see you content to leave the way you came?.....They are watching. Believe me. They are watching.
I still vividly remember the moment I let go of an embrace with my daughter on her college campus - that, in her opinion, probably lasted far too long. I left the most precious thing in my life in the care of an institution, and that's a very hard thing to do.
The songwriting was almost like something I did while I was waiting for my daughter to come back.
Each family prayer, each episode of family scripture study, and each family home evening is a brushstroke on the canvas of our souls. No one event may appear to be very impressive or memorable. But just as the yellow and gold and brown strokes of paint complement each other and produce an impressive masterpiece, so our consistency in doing seemingly small things can lead to significant spiritual results.
My mother had taught shorthand and typing to support us since my father died, and secretly she hated it and hated him for dying and leaving no money because he didn't trust life insurance salesmen.
When my children wake up in the morning they know they will eat breakfast, get hugs from their parents, go to a good, safe school. Plates are full and store windows are glittering. But at the same time the great majority of the world's children and women stand - no - shiver on the precipice
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