I gave the best advice when I was 21 but no one paid attention to me.
Now, I can say the dumbest things in the world and a fair number of people will think there’s some great hidden meaning to it or something.
- Warren Buffett
Warren Buffett is 93.
99.9% of his net worth came after his 50th birthday.
Let that sink in a bit.
We think we want the reward in whatever we do right now. We think we should always aim for the best result next month. We think we should run faster and jump higher. But we tend to overlook the inherent cost as we push ourselves to the limit all the time.
Buffett knew he would be wealthy. He realized one of the keys to success is to look for someone both smarter and wiser than he is. And he found Charlie Munger.
Charlie is the master when it comes to unlocking the power of compounding. All you need is to avoid making stupid mistakes and have patience. A lot of patience.
The thing about patience is that you need to practice deliberately by slowing yourself down, taking a break, and not following the crowd.
By slowing down, you might not get to the finish line first. You might get an average result. But you are also more likely to stay in the game longer because you avoid burning yourself out over the short run.
Yes, this will take more time. But don’t forget this will come with less stress and burden on your soul and body.
The lesson is not about becoming the next Warren or Charlie. The lesson is about reflecting on your life.
Ask yourself. What is the thing that you are good at doing that needs slowing down so that you can keep going for as long as possible?
See you next week.