NFL Star Shares The Most Valuable Investing Advice Warren Buffett Gave Him
The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.
Thank you for all your support! Without you, we could not keep this site running. Gang Gang!
When Warren Buffett talks business, people tend to listen. One individual who’s been listening to the advice of the 90-year-old financial guru is Tampa Bay Buccaneers star, Ndamukong Suh.
Suh takes investing seriously and told Yahoo Finance Presents that he has learned “tons of invaluable investing lessons” from Buffett over the years.
The odd couple struck up a friendship during Suh’s playing days at the University of Nebraska. Buffett has been a Cornhuskers supporter for decades.
The Cornhusker connection helped Suh make contact with the investing whiz.
Suh is now a Berkshire Hathaway shareholder and “usually talks to Buffett every quarter.”
He told Yahoo that their next chat is likely coming up soon.
The Super Bowl winner told the website he’s planning to be a Berkshire shareholder well beyond Buffett stepping aside as CEO.
“I definitely plan to [stay a Berkshire shareholder]. I think it’s all about the long-term goals and being patient and being focused,” Suh said.
Suh also shared the most important piece of advice he’s ever received from Buffett during their talks. He said he’s learned “tons of things,” but this nugget of wisdom has been the most valuable.
“Probably the most important one [lesson] that I learned from him is focusing on the people,” Suh said. “People are the most important thing about businesses.”
While Suh didn’t discuss how he’s put that lesson into practice, he did share his own knowledge about investing and believe real estate is “a powerful vehicle for generational wealth.”
Suh has hauled in “an estimated $164 million in career earnings in his 11 years in the NFL — has invested aggressively in real estate over the years.”
“Real estate is one of the most powerful vehicles for generational wealth, in my opinion.
And obviously, just having twin boys with my beautiful wife, it has been exciting. And I want to be able to have assets that I’m able to pass down to them, but also not allow them to have something that they can just spend,” explained Suh.
“So it’s hard to spend a building, as one of my good friends have said many times. And it’s something that’s exciting as well. And it’s transformative, being able to change communities and be able to advance them.”
[via Yahoo! Finance]
Current Top Offers
Invest in Commercial Real Estate With As Little As $10
Get a $50 bonus for creating and funding a new account
Invest spare change easily. Get $5 when you sign up for Acorns.
Earn an unlimited 1.5% back in Bitcoin on every purchase with the BlockFi Rewards Visa® Signature Credit Card.
Put your crypto to work. Get up to a $250 crypto bonus with a transfer of $100 or more in crypto.