by Addie Borbon
I opened my yahoo account and looked through emails I had not read while at work. This email had been there for awhile now. It’s about this man…Warren Buffett, the second richest man in the world, next to Bill Gates. What struck me most after reading was that he did not have a cellphone and laptop with him ALL THE TIME…
One time, I watched him take a cab after being interviewed by TMZ on TV??
I called my sons so we could read the article together.
Warren started saving at the age 11. Actually, he bought his first share at that age. At the age of 14 he spent $1,200 he had saved up from two paper routes to buy 40 acres of farmland which he then rented to tenant farmers. I felt the need to teach my kids the value of saving/ investing. I had to start somewhere and made them both open a savings account. We opened it almost two years ago. They were able to use some of the money during our Hong Kong Disney trip. Brought them with me to the bank, I intentionally had them go through the whole process of filling-up their withdrawal slips, writing down the amount and signing their names. They also had to fall in line with all the rest of the 20 or so bank clients… I thought this was important because if they ever have the need to get from their savings, they would realize the amount of time they put in just trying to withdraw! No ATMs for them..YET.
Edman was groaning at most parts of the article. It hit him right on the spot. Warren Buffet said, “Don’t wear brand names…wear something you’re comfortable in”. He is thirteen and has a penchant for buying this one brand of shirt and my, it is costly.
I don’t know how I’ve raised him to be this conscious… When I was a kid, I know that I had an insurmountable amount of hand-me-downs. We just accepted them and wore them gladly. I am proud of how my own parents raised me. I am worried though that I am failing now as a parent. Inasmuch as I want my children to be happy and comfortable, I cannot bear the consequences of it. I do not want them to be big spenders or lose money just as fast as they earned it!!
Tough job for parents, right? When people who want to drive get a driver’s training and license… and couples who want to get married, undergo a pre-cana and then signs a marriage license, how come people who want to be good parents don’t get training and no parenting license?! Haha!
I am lucky though that I have parents whose examples I emulate. I am also friends with some people who give me financially sound advice. Being a working mother, my responsibilities are endless…Got to pay bills on time, work hard, make sacrifices…
Addie….take a deep long breath…and exhale slowly through the mouth. There.
One of Our Daily Bread readings is entitled “It’s Not A Game”…
“While material possessions, professional success, and personal victories are enjoyable, they last only for this life. Then they’re all left behind.”
Now, how do I effectively teach this to my growing children?…..Hmmm….real live parenting in progress. No guarantees. A wait and see event…
