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Buffett's net worth at 14 was $5k. I just checked my old childhood savings account, and after my 14th birthday it had around £50 in it. At 34, his net worth w
by efaref 10y ago
Buffett's net worth at 14 was $5k. I just checked my old childhood savings account, and after my 14th birthday it had around £50 in it.
At 34, his net worth was $7M, so relatively speaking, I only need £70k to be doing about as well as he was.
I think I'm actually doing better. :-)
- elsurudo 10y agoYou need to adjust for inflation, though.
- efaref 10y agoWe both experienced inflation, but sure, let's work it out: £50 when I was 14 was worth £90 in today's money. Buffett's $5k was $68k. Buffett's age-35 7M was worth 53M in today's money. So I'd need £70k in today's money to match his net worth growth. That's exactly the same. I'm actually surprised by this, as it suggests both Buffett and I experienced the same level of compound inflation over the 20 years of our lives from age 14, despite being at different times and on different continents. (This is all tongue-in-cheek, of course).
- pcrh 10y agoWow! Tell me your secrets! :-)