or with any business guru.
What would you prefer?
Most will pick the first option because it's easy, it requires no time, no risk and no effort just instant money.
Of course, I rather have an hour session with Warren Buffet and question him about stocks and p/e ratios, investing in a business and so on.
Why?
Because I know that hour long session will (in the long run) make me hundreds of thousands dollars or more.
Having a $100,000 gift can be easily spent within a month or two.
I have spent countless of hours in the Library and in Bookstores reading personal finance books to learn about money.
Had I been given a financial gift I doubt if I would have spent a minute learning about money.
Sometimes patience and financial knowledge is all you need.
Tuesday, July 8
A $100,000 gift or a one hour session Warren Buffett?
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11 cool comments:
That's a fun variation on the parable "Teach a man to fish..."
Can't agree with you there. I can't get enough ouT of Warren Buffet in the space of an hour to justify passing up $100,000. There are other ways for me to take advantage of his knowledge.
I'd take the $100k and opt to read everything Buffet has ever written. I'm an opportunist, so I'd figure out a way to have my cake (fish) and eat it (learn to fish) too.
It depends on how much I know already, at this point I will take the $100k because I NOW have financial education.
However, I think when you do not know ANYTHING about money, it will be wise to take an hour session with any mentor or money guru
@sister ant and single ma
not just Warren Buffett, I said any business guru.
I have to agree with Sistah Ant & Single Ma....give me the $100k! :)
i'd take the money! as much as i find warren to be cool and he'd offer a wealth of knowledge, i'd much rather read about his strategies in a book, which i would buy with the $100K :-]
:::Marcus LANGFORD:::
You don't know me...LOL! If I had access to $100,000 I would pay off my debt, open up my ROTH IRA, and invest in no-loads. Granted talking to a Billionaire who feels that everyone should pull themselves up by their own bootstraps, I rather just do me. I wouldn't spend it all in the month but try to make it grow.
oh i hear you, but it doesn't matter which business guru - i'd still take the money.
I'd take the money, preferably in a plain brown envelope. :)
You really can't duplicate what he did.
Like all savvy businessmen along the way he took advantage of tax laws & loopholes that both allowed him to build & shield wealth, but sadly are now long gone.
Oh this is easy. Since I have no money to invest, I'm not sure what the long-term financial payoff would be of an hour with Buffett.
On the other hand, the long-term payoff of $100K invested in index funds would have a more discernible payoff.
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