NFL Star Shares The Most Valuable Investing Advice Warren Buffett Gave Him

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Warren Buffett 2 List Rule

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.”

To read more advice from Warren Buffett, check out this brutally honest quote about being an entrepreneur and his advice on making two different lists when setting goals.

[via Yahoo! Finance]

Author
Chris Illuminati

Chris Illuminati is the author of five books and has written about personal finance, wealth, debt management, and entrepreneurship for numerous outlets including Wise Bread, Grow or Die, and Bankrate.