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Warren Buffett offers advice on debt, parenting and choosing work.
Summary
In a recent CNBC special, Warren Buffett warned against personal debt and discussed parenting, learning from mistakes, and choosing work you enjoy.
Content
Warren Buffett, 95, appeared in a rare interview that aired on CNBC in a two-hour special titled "Warren Buffett: A Life and Legacy." He warned about the risks of personal debt and reiterated advice on parenting, moving on from mistakes, and choosing work that brings satisfaction. Buffett recently stepped down as Berkshire Hathaway's CEO after more than 50 years in charge. He also reflected on his upbringing and the influence of his father.
Key points:
- The interview was recorded last May and aired as a two-hour CNBC special.
- Buffett warned that racking up credit-card debt can leave people "underwater" for a long time and advised against getting into debt.
- He told teenagers and college students directly, "Don't get in debt," while acknowledging discipline can be difficult for young people.
- On parenting, he recalled his father saying, "I know you can do better," and said, "If you want to have good children, be a good parent."
- On work and learning, he advised finding a job you would take even if you did not need a paycheck and noted the importance of real-life experience in addition to reading.
Summary:
Buffett reiterated long-standing views on avoiding personal debt, modeling parental behavior, and preferring work that brings engagement; his remarks restated simple rules of finance and family he has offered over the years. The comments drew attention in part because the interview was a rare, extended CNBC special. Undetermined at this time.
