Warren Buffett on Business and Children

Warren Buffett on children: “…a very rich person should leave his kids enough to do anything but not enough to do nothing.”

You don’t have to be very rich to believe that. Have you ever wondered why children of rich people don’t do as well as their parents? I believe it’s because they didn’t have to work to get things, so they don’t appreciate them.

As you may know from reading my past posts, I greatly admire Mr. Buffett. He lives in a modest house in Omaha, Nebraska, works hard, and is concerned about others. And he isn’t leaving his kids a fortune. This CNBC Interview describes their lives growing up and reveals what he’s leaving them in his will (not much).

I always tell my children I’m not leaving them anything, just like Warren Buffett.