It is much, much more than your son or grandson has

When you think of Warren Buffett, you probably picture him as one of the richest men in the world with billions in his bank account. But have you ever wondered what he was like as a child? Well, even at a very young age, he was thinking like a mini-mogul and had amassed an incredible $2,000 by the time he was 15! It may not seem like much now, but in 1945, it was a small fortune.

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To put it into perspective, that $2,000 would be worth nearly $35,000 in today’s money! That’s more than many people have saved in their savings accounts, and it’s certainly far more than most teenagers carry.

Warren Buffett separated himself from most teenagers. Even at that tender age, he was already a smart business owner thinking about investments, profits and optimizing his early businesses.

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So what made young Warren succeed? His family was certainly good, but he still rushed in somewhat surprising ways, at least by today’s standards.

He sold chewing gum and Coke door-to-door in his neighborhood, delivered newspapers before school, and even set up a business selling used golf balls and stamps.

His greatest success came from turning a simple job as a teenager – delivering newspapers – into something more meaningful and a foundation for bigger things. He found ways to be more efficient, deliver faster, and even sell additional subscriptions and calendars.

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With the proceeds from this business, Buffett was able to buy a 40-acre farm in Nebraska for $1,200, which he rented out for a steady income.

Buffett, who just turned 94, has an estimated net worth of about $143.7 billion. He averages about $4.18 million every day of his life! Of course, he didn’t earn that much every day to begin with – most of his wealth came later. But it’s still an incredible way to think about how much he’s accomplished over the years.

However, his definition of success goes beyond money or fame. In a 2019 interview, he explained that if you’re 65 or 70 and the people you really care about love you back, then you’re successful. He saw incredibly rich people who are still miserable because no one loves them.

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He lives modestly and has committed 99% of his wealth to charity, showing that success is much more than a bank account – it’s about investing in yourself, your relationships and living a meaningful life.

But when it comes to his kids, he believes in tough love. His daughter Susie once asked him for a $41,000 loan to renovate her kitchen, and his response suggested she “go to the bank like everyone else.”

Despite his often frugal behavior, Susie never felt stingy and appreciated his philosophy. She once said, “I actually agree with his philosophy of not throwing a bunch of money at your kids.” She agrees that it is wiser not to leave them billions, as it would be “crazy” to do so.

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This article Can you guess how much money Warren Buffett saved at 15? Hint: It’s much, much more than your son or grandson originally appeared on Benzinga.com

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