Regarding my previous post’s comment about my parents and sister, I’m not stating that family members have to look out for each other’s interests. I’ll keep my full opinion on that close to the vest, as it seems in today’s First World, what I think should be second nature is just a relic of yesteryear, if not yestercentury.
This is, in my opinion, very unfortunate, and is one of the many reasons I’ve created Make More Monie. For me, it is a tangible record, for the record, of my opinion on this and other fronts. This also extends to my late-to-the-party commitment to teach – and ensure it is captured on the record for – if no one else, at least my mentees about how important good decisions, made as early as possible, are.
One only needs to look around at high net worth communities throughout the First World to see the obvious connection between prioritizing education, family and community above all else and the resulting economic success of those families within, despite today’s worldwide economic turmoil. It’s no secret that this respect for education is why so many families — immediate and extended — in proactively-thinking communities, generation after generation, can boast of having the abc’s — and d’s and e’s — covered by a roster of accountants, barristers, cardiologists, dentists and engineers, sitting around the dinner table!
I also have to think that this sort of love for and interest in education begins at a very young age and is not just abstractly taught, but demonstrated daily and surely discussed at those dinner table and other family gatherings. What I would give for it to have been over the dinners of my childhood and adolescence.
I tried to implement this in raising our children while married, but my ex, ironically the daughter of hard working and frugal immigrants, didn’t share this mindset, ensuring that this initiative went nowhere. I still remember her telling me, while trying to get the kids to read more, that, “nobody’s a born reader”. Sigh.
Someone famous for this “pro-ed” mindset, who I’ve tremendous respect for, is Warren Buffett. Aside from his investment style, his penchant for providing advice in the form of biblical parables to anyone willing to listen – and which are readily relatable – is legendary. If you are a Make More Monie mentee, you will know that similarly, I like to reference Aesop’s Fables when elaborating on the principles I promote.
When considering Warren’s ability to flesh out those stocks that he feels are bound to deliver him his money’s worth, I cannot help but compare this to the dogged determination demonstrated by those that are prudent and financially responsible. They purchase not only stocks, but almost everything, only when the price is right. As a value investor, above almost all else, he and many wealthy others search for deals.
Oddly, throughout history, many have tried to shame those known for prudent and pragmatic behavior with their financial dealings and I’ve never understood that practice. To me, it seems misguided at best, and likely nothing more than simple envy and jealousy at worst. Think about it. Why would anyone ever want to pay more for something than it is worth? Furthermore, if one doesn’t know what something is actually worth, why wouldn’t one spend at least some bandwidth determining its value before purchasing?
I have to smile when considering that in this likable fellow, who still lives in the modest house he bought in 1958 for $31,500 and famously buys his cars used, we have no less than a man who is perennially one of the top ten wealthiest people in the world setting this great example for any and all to emulate – for free!
Having said that, he’s never cheaped out on or discounted the aforementioned learning, maintaining that one’s mind is the greatest asset one has, and one that should be maintained, challenged and broadened.
With those words, I suppose the only thing left to say is that when a man who is worth over a hundred billion dollars – and has found even more value in the happiness of being around his multitude of friends and family – decides to say something, we all, especially my Make More Monie mentees, should listen!
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