Warren Buffett: Fundamentals for an Enjoyable Life

Warren Buffett gets questioned about the difference between being 'rich' and being 'wealthy'. From the 1999 Berkshire Hathaway annual meeting.
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[@saturndirect8085]

One of the best things on YT these meetings are.

[@ericchan5055]

SaturnDirect it sure is Yoda

[@Jake-mc8te]

@@ericchan5055 literally was about to comment that 😂

[@wizecorner2190]

Charlie does it in a classic way ❤️👌🔥

[@JamesToler]

Thank you so much for these! Rich vs Wealthy

[@jaypalnitkar4400]

I sometimes feel, post my death, on judgement day, I will see the very same desk and these 2 gentlemen behind it and reviewing me 😅

[@kokwahtan8577]

Human nature generally is never enough! Want both wealth n Rich!!

[@sorsorsor11]

I think if you would ask literally all people on the planet, 95% would say they would rather choose a million dollar over having better health and friends. Once you have money and freedom not having to work for shelter and food, yes you can look around to be happy. But as long as you have to wake up every day and deal with all the BS and idiots just to not sleep on the streets, nah. I rather want out of this than not having to struggle with a few days sick in a year.

[@apothe6]

3:53 Look at Charlie observing all the people laughing hahaha

[@AB-bc3vi]

They’re great speakers

[@Teamshmo]

Of course, they are talking about once you have enough money you don't need much more. The difference doesn't matter much. What that number is depends on what you wanna do with your life tho.

[@mrf8514]

The pro athlete making millions a year is rich. The guy that signs his paycheck is wealthy.

[@guitar300k]

So basically wealthy is just very rich

[@abitamimbharmal1498]

@@guitar300k no, wealthy is lasting riches. The athlete gets a salary. If he invests that massive salary, he’ll become wealthy

[@paulwarren796]

WE , THE PEOPLE , --WILL TRY TO BE HAPPY THAT YOU HAVE ONE....

[@candyfloss184]

What good is health? You can't buy money with it. Seriously ?? If i am weak how can i do work and get money?

[@befree9579]

huh?

[@tinker-ing-around2317]

Warren Buffett and Charlie Munger are so much more intelligent and humble than the smug condescending woman asking the question.

[@sid-thephysicskid]

The woman asking the question is so smug and condescending.. ugh !!

[@FrankCastle1993]

Yeah she waste her precious minute by ask that question? She wait for hours for her turn , right

[@willhurst]

You guys here in the comments section really are trying to sound poetic about this wealth vs rich thing. You sound like the lady asking the question looking for some altruistic answer. It’s simple, the financial industry classifies a “high net worth individual” (a HNWI) as someone who has $1M in investable assets minus debt. An “ultra high net worth individual” (a UHNWI) is someone with investable liquid assets over over $30M. These people can both considered rich, but rich is generally defined as “having abundant possessions or material wealth”, which a hoarder can also be. Doesn’t make them wealthy. You can have $1M in assets but if you have $1M in debt you are technically rich but also technically not a wealthy individual. In fact, on paper, you’re dead broke.

[@pongfoong9523]

ice o wa like and p o l ice you know that spall ing lungugue

[@marcmini8137]

Wealthy is much better then just rich. Wealth leads to true freedom. Ex. If I work at a job (90 percent of people work at a job they hate) and I save my money and invest in cash flowing assets like realestate, rental propertys, or cashflowing stock derivatives I can get a monthly paycheck without physically trading my time for money. Once you cross the point of where your passive monthly income passes your living expenses you are among the wealthy. Let's say you need 5k a month to live on for food,rent, Bill's, clothes, entertainment, insurence, gas, car, payments etc. And your passive income is generating 5k a month you can live for free. Your wealth is at a 1:1 ratio. Well what if you make 10k a month from passive income? Now you have 2 TIMES The amount it costs you to live so your qealth ratio is now 2:1. The fact Warren buffet does not say anything close to this makes me cringe. And even he is an idol for me.

[@knmfujiwara]

I think because he was referring to wealth differently than you in terms of definition.

[@AverageAngel]

This is very well said, you need passive income enough to replace your current income, then you will have time freedom. I think we are all here looking to do that. Best of luck to you!

[@guitar300k]

Your comment makes me cringe

[@marcmini8137]

@@guitar300k ur a joke

[@marcmini8137]

@@AverageAngel thanks brother u too!

[@pongfoong9523]

Byou laos .i do it by law didnt you see bill yet.?am not ha you know i study in thai cavory army for 5 year and a helf year .

[@pongfoong9523]

Why you thinking peaking me free that on you all so how i gonna selling on real thing.

[@pongfoong9523]

Didnt you seezing my bill ? Yet

[@socrates_the_great6209]

Why did he then not invest some billions into inventing a cure for aging?

[@amschelco.1434]

No one likes to live forever.. living forever is just for those who has not live their lives fully..

[@bruceblunderfield5431]

Warren lost Charlie Munger just short of Christmas 2023! I lost my Dad 6 Days short of his birthday ! Born St Patrick's Day, 1923. You can plan, you can talk! You can ring them 3 times a day! The loss isn't easily passed! You rang them every morning when you got up! At lunch or just after?call me them before or just after dinner? What does that learnt priority do whenever I wake up or go to bed? I lost my best mate! Try and put a value on it? Impossible!

[@kingkang6877]

Dang.....she was a complete jerk "you're finally getting it..."

[@ericchan5055]

King Kang it’s her fault for not be able to communicate her question effectively

[@goptty]

women

[@kokalti]

She expects them to read her stupid mind

[@vishalmishra7018]

Buffet does not care, he handled it really well, while we can get offended from such things buffet does not. His unemotional not caring what crowd says has gotten him really far in investing and business.

[@pongfoong9523]

am not gonna buy ice all sir madam i got life like you .

[@AverageAngel]

I don't like the person asking the question at all - condescending and arrogant

[@dirtymike3329]

Dumbest question I ever heard lmao

[@Furtivo95]

Rich = accumulation of a lot of money. Wealth = ability to live off the dividends your money makes for life.

[@mariaROEurope]

They look like totalitarians. This is why they do not need to show how wealthy they are... Those people can buy at least several countries.

[@ronniedelahoussayechauvin6717]

He could not answer the Question without her explaining herself more because his answers are never direct, its GREED & Theres major conflicts of interest & fraud & hes trying to ptotect his every word. Her question was not stupid, I was taught no question is STUPID. Some just can't get answers.