I Like Warren Buffet

Warren Buffet raised his kids as if they weren't wealthy. In the same way most kids don't know what exactly their parents do, his kids didn't either.  It wasn't until their mid twenties that they really even knew the full reality of their father's wealth. He was the richest man in the world.

When they were kids, they thought he was a security guard because he worked in securities. When they turned 19 they were given $90,000 to get started in life, and that is all of the inheritance they would receive.

I just like that. Living below our means creates a lot of freedom. It allows us to focus on important things, and prioritize needs over wants.

What if we did the same thing? What if we set a budget that was well below our income? What if we planned to live that way for our entire lives?

Check this out. Warren Buffet still lives in the same house he raised his kids in which cost him $31,500 in 1957. What if we perminently stopped house shopping? How would that change us?

I believe this way of thinking could nearly eliminate the covetousness. It would put a kibosh on wanting something bigger and better all of the time. It would foster contentment.

Side note: I still haven't bought back into the stock market much. I'm waiting for it to drop to 10,000 on the Dow. Patience is my game still. Warren Buffet says he's back in the market (Berkshire Hathoway is buying), and that he doesn't think recession is coming. Can't argue with him really, it's going to be time to buy back soon.