THE BEST INVESTMENT according to Warren Buffet

17 Replies

Warren Buffet is quoted to having said “The best investment is an investment into yourself.”

What investment has been your best investment into yourself? What was the cost? And what has the return been for you so far?

Hey Shilo, 

Great discussion topic! I believe in investing in mindset all the way! The recent BP podcast interview with Annie Duke was awesome, in my opinion. I just ordered her book, " Thinking in Bets: Making Smarter Decisions When You Don't Have All the Facts" from Amazon and another book she recommended titled, "The Geometry of Wealth" by Brian Portnoy. I'm excited to read them as soon as they arrive. Both books cost me about $30 and the time to read them.

I think the return will be infinite and are always compounding in my life.

To me, mindset is the greatest asset a person has. I am always trying to develop my mindset toward better and more positive results, problem solving, and crushing fears and  obstacles.

This year I chose to quit drinking alcohol. This has been the best investment I have made by far. The ROI has been great. Lost 30+ Lbs, spend far less money (5-10k), and have been present for my son. One of the best investments in myself I have ever made.

@Mike White Thanks for your input.  I too think that buying books and reading them/studying them can be a great investment into oneself.  Good for you.  

Also, I hope Georgia is treating you well.  It was nice to get to know you a bit at the meet ups.  Good luck to you in your new location.

@Noel R. That sounds like a great investment.  What a great improvement in your quality of life and quality of your family life as well.  Good for you.

College degree. Owed $12,000 in student loans when I graduated in 1992. Have earned about $2 mil in wages since then. 

@Anthony Wick What did you study? Congrats on the life time earnings. It dawned on me reading your post that my two year degree will have me earning $1 mil every ten years and I payed a fraction of what you payed in 92 in 2013.

Working out more and Reading more of the suggested books from the famous 4........I want to get back to working out twice a day like I was.......felt so amazing after those workouts.....

@Kerry Noble Jr  that’s fantastic! I like going to the gym in the morning to lift weights and sometimes running in the evenings. Whenever I do it, I always have my earphones in so I can listen to podcasts or audiobooks. Right now the book I’m listening to is The Magic of Thinking Big. I would recommend it to anybody. 

Reading.

I have a reading list on my website and the page is called "the greatest return on investment you can make"

Nothing else even comes close to ROI of reading. What does it cost? I probably spend ~$50/month in audible and physical books, which is a LOT and still a fraction of what the return is worth

I've committed at least 1 hour per day to meaningful reading. The cost: I no longer watch every single sporting event on TV! The funny thing is that now I seldom have a desire to watch people running around making millions when I'm not doing the same ... yet :) I've also rid myself of anxiety attacks and have been spending more time with my family. 

Originally posted by @Shiloh Lundahl :

Warren Buffet is quoted to having said “The best investment is an investment into yourself.”

What investment has been your best investment into yourself? What was the cost? And what has the return been for you so far?

for me was a pilots license  not that it made me any money it cost me well lets put it this way a bunch over 30 years of private aviation.

but the experience and exclusiveness  those day trips to Friday Harbor were I could leave at 10am be there at 11am have lunch walk back and be home in time for cocktail hour.. priceless..  or long weekends to Montana  CA  Vegas etc. 

that was one of the best investments for me..  real estate that was just what did/do for a living.. and I invested heavily in training and being in the business was mentored and work with  some great folks much sharper than me.

First, I’ve probably read 40 or so books related to real estate, business, and personal development during college and since graduation (last May). Books themselves are super cheap, so I probably spent a total of $500... Second, I went around town during my first summer between architecture classes and begged brokers with investment experience to be my mentor and offered to work for $10 an hour. I landed one, got paid for several summers to help manage/maintain his properties, and had a mentor I could text night and day. I’d say those investments in myself were both practically free, or even netted some money because I got paid to work, and they all culminated in closing $17,500 worth of wholesale deals in my first month. Books and mentors are infinite RIO.

@Jay Hinrichs thanks for your comment Jay. Also, I really appreciated being able to talk with you over the phone the other day and get some great advice and mentoring. 

For anyone who wants to support a great cause, Jay and some other great BiggerPockets contributors have created a charity called Hero’s Home. For those who make a contribution, Jay has offered to have a phone call to allow you to ask him questions and tap into his immense wealth of knowledge. I highly recommend it. 

Jay, I think it’s awesome that you are doing that charity. Could you respond to this post with a link to where they can find out more about the charity.

Originally posted by @Shiloh Lundahl :

@Jay Hinrichs thanks for your comment Jay. Also, I really appreciated being able to talk with you over the phone the other day and get some great advice and mentoring. 

For anyone who wants to support a great cause, Jay and some other great BiggerPockets contributors have created a charity called Hero’s Home. For those who make a contribution, Jay has offered to have a phone call to allow you to ask him questions and tap into his immense wealth of knowledge. I highly recommend it. 

Jay, I think it’s awesome that you are doing that charity. Could you respond to this post with a link to where they can find out more about the charity.

 Thank you Shiloh  the link is on my signature line below..  as you know there is competition for donations in America and a lot of very worthy causes.. I want to show our first responders that us real estate investors know how to give back.. and we are not just greedy landlords  LOL.. 

I actually got that inscribed on my iPad when I got it - "An investment in knowledge pays the best interest."  Best for me was actually finishing college - I almost didn't.  But it led to an internship that led to a job where I am still at with a great company.  Lets me do real estate investing on the side.  

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