The New Warren Buffett Documentary
Becoming Warren Buffett is a fantastic documentary to watch about how he became such a wealthy man. What really excited me about it is the surprising insights Warren shared about women and money. In this video, I’ll share those with you, along with a few investing tips that every money savvy woman will want to know. And that’s you, choosing to be a financial woman!
The five most important takeaways that I got from the new Warren Buffett documentary are below. The last one is especially important if you are nearing the end of that time period that you have given yourself to reach a financial goal, such as college or retirement funding.
- The first takeaway is Warren’s message to live within your means. Would you believe he picks up his breakfast every day from McDonald’s while on his way to work? Warren said that his breakfast cost between $2.5o to $3 dollars. His wife puts the money in his car each morning for him.
- The second takeaway from the Warren Buffett documentary is about women. Warren asked his wife, several decades ago, how women will feel about being slaves to men for so many years, once they realize it. (I’d say we’re a little pissed off about it:) Warren went on to talk about how women, at that time and throughout history, had a primary role of serving their man. A woman’s primary role was not to be all that she could be as a person. It was to serve her man.
- The third take away is the magic of compounding. Warren Buffett loved to buy things and hold them for a really, really long time. Compounding happens when you own something for a long time it and it grows. Good investments compound over time. That is why you can invest wisely for 20 or 30 years, and it grows passively. The crucial catch here that I must point out is to be aware of your investing time frame. This is explained more in my free investing basics ebook here.
- The fourth take away is that women got a different message than men did about potential. Warren felt that he got the message when he was growing up that he could be anything he wanted to be, or do anything that he wanted to do. He felt that message was conveyed very clear to him as a man. He felt his sisters did not get the same message because they were women.
- The last take away is super important, especially if you are nearing the time frame to reach your financial goals. This important takeaway is to buy cheap. As women, we are great at applying this principle to shopping. Think of buying cheap when it comes to your investing, as well. There are times when stocks, bonds and real estate are cheap based on history. Try to invest closer to those times so you get more for less.
Be sure to get the basics you’ll want to know before investing in anything, ever, in my investing ebook that I made free for all women choosing to lead their wealth. It’s based on my 30 plus years of investing my own money. Click here now to get it.