Bezos: “[I asked Warren,] your investment thesis is so simple…you’re the second richest guy in the world, and it’s so simple. Why doesn’t everyone just copy you?”
Buffett: ”Because nobody wants to get rich slow.”
The Warren Buffett approach is appealing to me from a wealth-creation perspective. It teaches that anyone with a stable income, knowledge and discipline, can become financially independent.
Most of the reasons people go broke is not because they failed to make money but because they spent their hard-earned money on depreciating assets. They opted for instant gratification (a dopamine hit) as opposed to diligent investing (watching paint dry).
“Once you’re wired for distraction, you crave it.” – Cal Newport
I hate to be the one to deliver this news to you, but a wealthy person’s relationship to money should actually be pretty boring, if you are doing it right. There’s no secret to this thing.
- Pay Yourself 1st
- Invest in what you understand and believe in
After that, work will be optional, and money will become simply an appliance to you.
Like clean, drinkable water from a tap, it is essential to basic life, but it fades into the background once you have enough of it. Once you have flushed out the false excitement of consumerism, a busy career, and financial drama, you get to create an actual life for yourself instead.
What do you really want out of life?