See also
Warren Buffett once said each fresh grad worker gets a /metaphorical/ punch card with 20 punches on it i.e. 20 important financial decisions for their life. He said you can get very “wealthy”[B] if you get at least 4 or 5 right decisions “over time“. At my age, I have made more than half of my 20 punches. If we count only investment decisions, then most of mine are rEstate decisions. In this bpost, I used to include a few non-financial decisions having huge financial impacts, but later relocated them to (A).
- — half ranked by time
- [5] Blk 177 .. good location and timing
- Beijing property .. good timing and locaiton
- UChicago .. “investment”, giving me insider insight guiding my decision for my college fund.
- BGC/Cambodia rEstate
- [5=G5 top punches with outsized financial impacts]
Some less specific, less decisive decisions:
[B] I would say Fuller wealthy. In contrast, the traditional “net asset wealthy” is not really enviable. If your burn rate is similar to your exclub peers, then you can hit USD 2M net asset and still struggle under heavy financial burden, on the cash flow low ground.