Investor extraordinaire Warren Buffett not only gives out advice but is also open to learning from others. Advice Buffett received from his friend and co-worker Charlie Munger helped the Berkshire Hathaway CEO to make the decision to invest in Coca-Cola KO, according to a report.
92-year-old Buffet's words of advice are sought after, however, and in a book titled “Getting There: A Book of Mentors” by Gillian Zoe Segal, the billionaire offered advice to young people.
After all, Buffett’s longevity in the public eye is not only due to his investing astuteness, but also his robustness.
One of 30 mentors who contributed to “Getting There,” alongside broadcaster Anderson Cooper and performance artist Marina Abramović, Buffett, in his essay, offered an analogy to emphasize the importance of mental and physical health.
Your mind and body have “to last you as long as you live,” Buffett stressed.
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The Message: Buffett used the analogy of a new car to drive home the importance of mental and physical health, according to Segal, who contributed an article about her book to CNBC.
“Let’s say that I offer to buy you the car of your dreams. You can pick out any car that you want, and then when you get out of class this afternoon, that car will be waiting for you at home,” Buffett wrote.
But there’s a catch: “It’s the only car you’re ever going to get...in your entire life.”
“Now, knowing that, how are you going to treat that car?” the billionaire wrote.
Buffett then goes on to suppose how well the new car owner would take care of their vehicle –protecting it from the elements, keeping up on maintenance and quickly attending to any signs of wear. He then makes the comparison between the importance of keeping the car in good shape and the importance of looking after your mental and physical well-being.
“You have only one mind and one body for the rest of your life,” Buffett wrote. “If you aren’t taking care of them when you’re young, it’s like leaving that car out in hailstorms and letting rust eat away at it. If you don’t take care of your mind and body now, by the time you’re 40 or 50, you’ll be like a car that can’t go anywhere,” he warned.
Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: Courtesy of Fortune Live Media on flickr
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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