3 Lessons To Learn from Bill Gates and Warren Buffett
When Warren Buffett announced that he would give 85% of his wealth away, with the bulk of it going to the Bill and Melinda Gates Foundation, it allows us to learn three clear lessons:
Lesson #1: Great wealth can create great good. Gates’ foundation is already recognized with treating millions of children in Africa with vaccines they would have never otherwise had. Most agree countless lives have already been saved. That kind of good will only now increase.
Lesson #2: It is perfectly OK to give to others beyond our immediate family. Buffett made it clear in his announcement that while his family certainly will not be wanting for anything he didn’t feel a need to give it all to them. Many families fight for every penny of a possible inheritance meaning that often charities their parents supported never see a penny. That’s too bad. If a church, hospital, college or other cause is important to you now, provide for them in your estate planning as well as your family. This is a way to add great meaning and purpose to your own life and to your life’s work.
Lesson #3: If you work hard at what you love and succeed, there is no reason to feel guilty about success. There was no indication of guilt in the eyes of Bill Gates, Melinda Gates or Warren Buffett. Many people may argue with their business decisions over the years but it’s difficult to argue with their current decision to be charitable. The tremendous wealth these people have built over the years will now be given back to millions of people they will never know.
These are only three of the lessons that all of us can learn from the Gates’ example and that of Warren Buffett.
Scott Hove is “The Entrepreneurial Pastor.” He takes the guilt out of success.
His latest book (in progress) is titled: “How To Make Money Without Feeling Like You’re Going to Hell”.