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Category: Misc
Date: 01/15/13 05:23 PM

42 Responses to Warren Buffett Money Tips [Pic]

  1. Profile photo of kitteh9lives
    kitteh9lives Female 70 & Over
    8044 posts
    January 15, 2013 at 5:27 pm
    Link: Warren Buffett Money Tips - He is widely considered the most successful investor of the 20th century...and here I am on I-A-B. Time to get busy?
  2. Profile photo of sosueme1966
    sosueme1966 Male 40-49
    439 posts
    January 15, 2013 at 6:08 pm
    When did Warren Buffett start talking like a chinese fortune cookie?
  3. Profile photo of Dad4Life
    Dad4Life Male 50-59
    2081 posts
    January 15, 2013 at 6:09 pm
    And drat the IRS every chance you get, while complaining your tax rate is too low.
  4. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36665 posts
    January 15, 2013 at 6:30 pm

    ON SAVING: Never keep only in a US bank when you can use an offshore account.
  5. Profile photo of Barnk
    Barnk Male 30-39
    486 posts
    January 15, 2013 at 6:46 pm
    Since I`d characterize Buffett as thrifty, I think his last statement negates the previous ones, and anything else he says for that matter.
  6. Profile photo of Runemang
    Runemang Male 30-39
    2676 posts
    January 15, 2013 at 7:23 pm
    Your lucky numbers are:
    8 17 21 34 47 54
  7. Profile photo of Dr_Sexy
    Dr_Sexy Male 30-39
    1597 posts
    January 15, 2013 at 7:28 pm
    Or just sell the useless shiz you bought in the first place
  8. Profile photo of tatripp
    tatripp Male 18-29
    1196 posts
    January 15, 2013 at 7:31 pm
    on the contrary, i find that cheap people are generally honest and humble while rich are arrogant and full of themselves.
  9. Profile photo of kingdomCome
    kingdomCome Male 18-29
    338 posts
    January 15, 2013 at 7:37 pm
    not contrary at all....rich and cheap are not antonyms
  10. Profile photo of thelonious
    thelonious Male 40-49
    3284 posts
    January 15, 2013 at 7:39 pm
    But really, I mean, a percentage tax? If I happen to work hard enough to get a raise higher than the cost of living increase, does that necessarily mean the government automatically owns more of my paycheck now? And I just keep owing more to the government every odd time I manage to get a raise, whether it beats cost of living or not? Shouldn`t there be a cap on how much one citizen needs to pay to keep their government operational?
  11. Profile photo of MrPeabody
    MrPeabody Male 30-39
    1920 posts
    January 15, 2013 at 8:31 pm
    If I happen to work hard enough... does that necessarily mean the government automatically owns more of my paycheck now?

    No you are thinking of it wrongly. It means there are others who do not have the fortune to work as hard as you did to earn more, therefore it is only fair that you pay more. Don`t be so selfish with your hard work.
  12. Profile photo of Solvent
    Solvent Male 18-29
    2842 posts
    January 15, 2013 at 9:10 pm
    "Don`t be so selfish with your hard work."

    This sentence represents everything wrong with society.
  13. Profile photo of Dead-Kittens
    Dead-Kittens Male 30-39
    1110 posts
    January 15, 2013 at 10:23 pm
    Warren Buffett is pretty awesome...his office has about 50 employees andrto the best of my knowledge he only paid 250,000 for his house (give or take a 100k or two).
  14. Profile photo of klaxor
    klaxor Male 18-29
    646 posts
    January 15, 2013 at 10:41 pm
    "Warren Buffett is pretty awesome...his office has about 50 employees andrto the best of my knowledge he only paid 250,000 for his house (give or take a 100k or two)."

    - Then what is he doing with his money? I don`t want to rag on WB, but he could be doing a lot more with his cash than waiting so he can become a saint when he dies and gives the money to a foundation with his name on it.

    Isn`t it a little weird to just keep collecting money when you have the personal wealth of a small country?

    Maybe it`s just me....
  15. Profile photo of turdburglar
    turdburglar Male 30-39
    4896 posts
    January 15, 2013 at 11:43 pm

    klaxor - If he wasn`t saving his cash he wouldn`t be rich. I see a problem there.

    I won`t pretend to know what he is like. Judging from the little I have heard from and about him, I would assume he is light years closer to reality than the rest of the "Uber rich". I like to think I would be as conservative with my spending given his wealth. I would probably develop a expensive drug habit instead.
  16. Profile photo of avail9988
    avail9988 Male 18-29
    700 posts
    January 16, 2013 at 12:24 am
    I like it
  17. Profile photo of lovinitmtboy
    lovinitmtboy Male 18-29
    16 posts
    January 16, 2013 at 1:03 am
    Klaxor, obviosly you have no idea who Warren Buffet is. He is by far the largest philanthropist of all time. Not to be condescending, but philanthropy is the act of increaseing human welfare. So in short, he is donating more money than anyone ever. Also, he initiated the giving pledge, encouraging the top billionaires to give away %50 of their wealth, whom many have signed. So to answer your question "What is he doing with his money?" Alot, he is so good at investing, he gives it away constantly. Just because hes a dual bad ass, philanthropist, and investor. Wikipedia some big names before you tote your HS education.
  18. Profile photo of scruffydog
    scruffydog Male 40-49
    13 posts
    January 16, 2013 at 1:23 am
    To sum up - Have more money than you need. Brilliant.
  19. Profile photo of tedgp
    tedgp Male 30-39
    3287 posts
    January 16, 2013 at 1:43 am
    @klaxor, like bill gates, he`s pledged to give away 98% of his wealth over the next few years.
  20. Profile photo of thubanstar
    thubanstar Female 50-59
    822 posts
    January 16, 2013 at 3:45 am
    Warren Buffet is a rare breed of rich person. He seems very in touch with the common man. He also has lived in the same very modest home for several decades.

    I like him.
  21. Profile photo of Canoas
    Canoas Male 18-29
    427 posts
    January 16, 2013 at 4:32 am
    "To sum up - Have more money than you need. Brilliant."
    most people have more money than they need, they just use it on the things they don`t need instead of saving, so when poo goes down they have nothing left.
  22. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    January 16, 2013 at 6:47 am
    like bill gates, he`s pledged to give away 98% of his wealth over the next few years.

    I`m accepting donations for a tropical island!!
  23. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    January 16, 2013 at 6:49 am
    Also, he initiated the giving pledge, encouraging the top billionaires to give away %50 of their wealth, whom many have signed.

    Which translates to help a thrid world country remain a s**thole and leave the place that made you filthy rich to rot.
  24. Profile photo of pompousass7
    pompousass7 Male 40-49
    259 posts
    January 16, 2013 at 8:33 am
    the u.s. did not make him rich...he made himself rich
  25. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    January 16, 2013 at 8:39 am
    the u.s. did not make him rich...he made himself rich

    Not according to Obama. If he were born in say India do you think his odds would`ve been the same?
  26. Profile photo of Issame
    Issame Female 30-39
    112 posts
    January 16, 2013 at 8:45 am
    I gotta wonder if Mr. Buffet doesn`t actually own anything he bought that he doesn`t *need*.
  27. Profile photo of IRockYeah
    IRockYeah Male 40-49
    2619 posts
    January 16, 2013 at 9:09 am
    Well there`s some handy tips I didn`t know about. Thanks.
  28. Profile photo of pompousass7
    pompousass7 Male 40-49
    259 posts
    January 16, 2013 at 9:28 am
    then why are you not rich?
  29. Profile photo of klaxor
    klaxor Male 18-29
    646 posts
    January 16, 2013 at 9:38 am
    He definitely seems not as arrogant as other Uber rich, but the money that he made came from investment. He gave companies money, those companies grew, and they paid him back with the money from their growth. Now that "growth" money is just... there... It`s wasted potential. And he`s still just collecting economic growth.

    He also stated that he is going to give the huge bulk of his money to The Buffet Foundation, which then gives his money to other foundations. Essentially a middle man company run by Alan Greenspan, where some of the money gets lost in admin costs. Why not give it to the Red Cross?

    Also, charities are nice, but jobs would be better. (teach a man to fish).

    I don`t have an issue with Buffet, but I wouldn`t say that I "like" him more than some other random guy. He could be an ass in his private life for all I know. Didn`t he disown his granddaughter a while back?
  30. Profile photo of McGovern1981
    McGovern1981 Male 30-39
    14268 posts
    January 16, 2013 at 9:52 am
    then why are you not rich?
    My father didn`t own a stock brokerage.
  31. Profile photo of sosueme1966
    sosueme1966 Male 40-49
    439 posts
    January 16, 2013 at 10:03 am
    Warren Buffett is pretty awesome...his office has about 50 employees andrto the best of my knowledge he only paid 250,000 for his house (give or take a 100k or two).

    He lives in Omaha. That may be the most expensive house available.
  32. Profile photo of pompousass7
    pompousass7 Male 40-49
    259 posts
    January 16, 2013 at 10:03 am
    i bet if you moved to india you would be considered rich LOL
  33. Profile photo of MacGuffin
    MacGuffin Female 30-39
    2602 posts
    January 16, 2013 at 11:45 am
    What are his thoughts on yellow snow?
  34. Profile photo of MrPeabody
    MrPeabody Male 30-39
    1920 posts
    January 16, 2013 at 2:04 pm
    "If he were born in say India do you think his odds would`ve been the same?"

    Actually India is a bad example, because it is quite possible to live the old (non Obama) `American Dream` in India.

    INFOSYS started in 1981 by 7 people in a small room with $250 is now a $7 billion+ dollar company, and those 7 people are now very rich.

    About INFOSYSINFOSYS
  35. Profile photo of klaxor
    klaxor Male 18-29
    646 posts
    January 16, 2013 at 8:24 pm
    @MrPeabody, wow... really? please tell me more


  36. Profile photo of dmoltrup
    dmoltrup Male 30-39
    162 posts
    January 16, 2013 at 9:27 pm
    Warren Buffett bought his house for $31,500 in 1958.
  37. Profile photo of Finker
    Finker Male 40-49
    505 posts
    January 17, 2013 at 6:17 am
    @klaxor, I thought the whole point of the American Dream was that you could, not that it automatically meant wealth for everyone and there was no powerty. Thanks for enlightening me.
  38. Profile photo of Finker
    Finker Male 40-49
    505 posts
    January 17, 2013 at 6:22 am
    India seems to have
    a mix
  39. Profile photo of klaxor
    klaxor Male 18-29
    646 posts
    January 17, 2013 at 10:34 am
    Yea, the American dream means everyone has a chance. In India, there are huge portions of the population that are born and will never have a chance. Corruption, Caste system, and poverty cycles. It`s not a "mix". There are huge disparities in standards of living across the country.

    But hey, maybe they should try harder, right Finker
  40. Profile photo of robthelurker
    robthelurker Male 18-29
    2768 posts
    January 18, 2013 at 7:37 pm
    heres my money tip, keep it all stashed in bag under your mattress, i dont trust the digital age.
  41. Profile photo of Baalthazaq
    Baalthazaq Male 18-29
    4548 posts
    January 22, 2013 at 10:18 pm
    Flinker, if you want to follow the American dream, leave America.

    Social Mobility is higher in France... and Germany, Sweden, Canada, Finland, Norway.

    The most important factor in the USA for how successful you are, is were your parents successful.

  42. Profile photo of MrPeabody
    MrPeabody Male 30-39
    1920 posts
    January 30, 2013 at 8:58 pm
    @klaxor

    There are poor people everywhere, even in America. It still does not negate the fact that in India it is possible to move up socially. The caste system there is even going away (granted not completely).

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