Practically a Millionaire
Warren Buffett, famed investor, is the 4th richest person in the world or the U.S.A. or one of those places. He heads an investment company called Berkshire Hathaway. People who bought stock in that company when it was just getting started have gotten a good return on that investment in investing with Mr. Buffett. They became millionaires if they hung onto those initial shares.
In those early days, my father was a young banker in Omaha, where Mr. Buffett lives. He actually took an investing class from Mr. Buffett. So, you can see that I could have been very rich today if only dear old Dad had gotten in on the ground floor by buying stock in Berkshire Hathaway back then, in the sixties.
You are wondering why my father failed to take advantage of that opportunity. How could he do that to me? How could he deprive me and the rest of our family of those riches?
The answer to that question is that Dad did not have enough money to purchase the minimum amount of Berkshire Hathaway stock and he did not believe in borrowing to invest. I think he needed $10,000, which was probably more than his annual salary back then. My parents’ first house only cost $14,000. That puts things in perspective.
I don’t hold it against Dad because I don’t want my kids to ask why I did not invest in Apple or Microsoft. Same answer. It was more important to buy groceries.
Still, in hindsight, we could have been very wealthy. If only….
Actually, we are very wealthy if we don’t base it on counting money.