For LeBron James, his primary source of capital is his body. For Buffett, his source of capital consists mainly of a series of financial investments that work for him, like a bunch of employees in a factory. He earns more interest in two minutes than the average American worker earns for an entire year’s work. It may not be right, but it’s a FACT.
I am not here to engage in the glorification of the super-rich. America is a greedy country, to be honest, and the gap between the rich and the poor is going to be one of our great downfalls in the coming decades (Buffett also seems to agree, and does a good job of giving a lot of his money away). But the truth is that, should America fall under the weight of it’s own greed, most of us will either be old or dead by the time that happens. And even then, those who control wealth are going to hold all the cards.
The lesson to learn here as you engage in your own Financial Juneteenth is to understand the power and importance of capital ownership as a key to wealth. As black folks, many of us are taught to go to school and work hard so we can get a good job. But a job will rarely give you the kind of wealth and power necessary to transform a nation. If you want to become wealthy, you should focus on building capital: a series of financial investments that can go out and work for you when you are not lifting a finger. You can’t get ahead by renting yourself out to corporate America, that just doesn’t work.
That’s what we can learn from Warren Buffett. Don’t teach your kids to dribble basketballs. Teach them how to juggle good investments instead. The key to our liberation as a people is to learn to harness our wealth.
Article Appeared @http://thyblackman.com/2013/12/21/how-warren-buffett-earns-more-money-in-two-days-than-lebron-james-earns-in-an-entire-year/