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According to experts,these time-tested principles remain relevant for young investors.
Below are five pieces of money advice Gen Z can learn from Buffett.
This quote matches Buffetts famous one about getting rich slowly rather than quickly, Shahnazari added.
When working with young clients through FinlyWealth, I emphasize that time is their greatest asset.
Live Below Your Means
The second key lesson Shahnazari highlighted from Buffett is living below your means.
I guide them to resist lifestyle inflation even as their income grows.
My platforms data shows Gen Z users who maintain modest lifestyles typically achieve their financial goals 40% faster.
Michael Benoit, licensed insurance broker and founder ofCalifornia Contractor Bond & Insurance Services, highlighted the same.
Buffetts frugal lifestyle is a great reminder for Gen Z that financial success doesnt require overspending, Benoit said.
I think avoiding lifestyle inflation the urge to spend more as you earn more is critical.
For example, keeping living expenses steady while saving or investing the difference can create financial security faster.
If someone earning $50,000 saves 15% annually, thats $7,500 saved each year.
Over 10 years, assuming a 6% return, that becomes $100,000.
Prioritize Continuous Learning
Third, Shahnazari stressed Buffetts emphasis on continuous learning.
My most successful Gen Z clients spendat least five hoursweekly reading financial books and studying markets, he said.
They understand Buffetts principle that knowledge compounds just like money.
Buy Quality Businesses You Understand
Fourth, Shahnazari teaches Buffetts principle of buying quality businesses you understand.
I advise Gen Z to invest in companies whose products and services they use daily, he stated.
This approach has helpedmy younger clientsavoid risky speculation in unfamiliar investments, he said.
Keep a Long-Term Mindset
Fifth, I emphasize Buffetts long-term mindset, said Shahnazari.
Benoit equally noted that being selective and thinking long-term is one of Buffetts biggest lessons for every generation.
Buffetts approach to investments prioritizingquality and long-term value is a great lesson for Gen Z.
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