Retirement: The Difference Between Money and Wealth

Sep 16th, 2008 | By Dr Jerry D Elrod | Category: Senior Moments Blog

“By the time you get to be my age, you want to know just how many of the people who love you, actually do love you!” Warren Buffett, the sage of Omaha and originator of this quote, was an acquaintance from our 20 years in that wonderful Midwestern city. His wife Susie, now deceased, was heavily involved in a number of community organizations. She was a true friend and a wonderful advocate of the disenfranchised.

So, over the years, I have always been intrigued with the goings on of this man and his circle. He lives in a home on Farnam street, not ostentatious, but practical. He is a remarkable and impressive human being. He and a pal exercised his financial brilliance by setting up pin ball machines in barber shops. From there, he developed his wealth and acumen as a world class financier and “world’s richest person.” It is his wealth that distinguishes him for some.

What I admire about him is the quote above. He knows where his priorities are. He has succeeded stupendously. He is an international personality. More important, he is a generous and good man.

Some ask, when I reveal our having known him, only slightly, whether I wish I had invested with him. Well, that would have been smart and nice. I guess I’m not too smart. The nice part I will never miss, because I didn’t. But, what I am glad of is that I knew him and I find in his life discipline a lot of very powerful lessons. Much has been written and reported about him. Most of that has to do with his “financial genius.”

But, what I find appealing is his bottom line caring for his family, his long term colleagues, his thoughtful judgment, his love of Coke and See’s Candies, and his dedication to a town that has been his home his whole life.

In a person like him, one needs to look beyond the stars in one’s eyes, and see the deep down, extraordinary goodness of this remarkable human being.

He is featured on AOL today with a list of 10 suggestions to help one make wise decisions about finances. I think it speaks to our need to have such counsel to make better decisions about everything in our day to day lives. Thank you, Mr. Buffett.



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