So I randomly came across this video the other day of Warren Buffett giving a talk. Just in case you have been under a rock for the last 30 years and not sure who he is … he is arguably the most successful investor of all time! Even better he describes himself as a guy who tap dances to work … clearly a man at the age of 86 who is living the dream! 🙂
So he starts his talk off with a very interesting question…
“If I offered to buy 10% of your financial future and I write you a cheque right now, how much would you charge me?”
This question got me brain whirling, ok what am I worth now!? … what will I be worth in 10 years, 20 years, 30 years…? The mind started ticking.
He then continued to explain he would receive a royalty for the rest of our life for the 10% he invested in us. He then told us to put a figure on it for our total lifetime earnings say £500,000, What are the things that would make the difference on whether you would achieve your full potential?
Well that sent my brain into overdrive!
How do I put a financial value on my future earnings of 30 to 40 years?
What is my potential to grow in value?
What will be the things I will have to work on?
He then broke it down very simply. If we were to treat ourselves as our biggest asset rather than worrying about investing stocks and shares, he believed we could get the full horse power out of our engine. But he felt the critical difference to what we could achieve laid in:
1. Our continual education
2. The ability to develop good habits
It was such a powerful an exercise to dissociate and start to view ourselves as our biggest asset we could own in life. It made me start to look from the outside in how investing in our health (mental and physical), mindset, relationships, building our career capital would compound over a lifetime to achieve success in our lives.
So my question today, what if you were to look out over 10, 20 or 30 years, what would be your potential? More importantly what things would make the difference?
Have a great day!