The secret that no one tells you about how Warren buffet built his wealth. More than 2,000 books are dedicated to how Warren Buffett built his fortune. Many of them are wonderful. But few pay enough attention to the simplest fact: Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child. As I write this Warren Buffett’s net worth is 108 billion dollars. Of that, $84.2 billion was accumulated after his 50th birthday. $81.5 billion came in his mid-60s. Warren Buffett is a phenomenal investor. But you miss a key point if you attach all of his success to investing acumen. The real key to his success is that he’s been a phenomenal investor for three-quarters of a century. If he had started investing in his 30s and retired in his 60s, few people would have ever heard of him. Here is a little thought experiment. Buffett began serious investing when he was 10 years old. By the time he was 30, he had a net worth of $1 million, or $10 million adjusted for inflation. What if he was a more normal person, spending his teens and 20s exploring the world and finding his passion, and by age 30 his net worth was, say, $25,000? And let’s say he still went on to earn the extraordinary annual investment returns he’s been able to generate (22% annually), but quit investing and retired at age 60 to play golf and spend time with his grandkids. What would a rough estimate of his net worth be today? Not $108 billion. $11.9 to 15 million. 99.9% less than his actual net worth. There is no doubt that he is a skillful investor, but his secret is time. That’s how compounding works. My note from the psychology of money. #bookclub #psychologyofmoney #buildingwealth #nonfictionbooks #selfhelp #personalfinance #money #bookhighlights https://www.instagram.com/p/CpiBVLrPMaN/?igshid=NGJjMDIxMWI=