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And for good reason the billionaire has built a legacy around his profound financial insights.
said Anna Yen, CFA, money expert and author atMoneyLion.
Luckily, there is something to be learned from Buffett at any age.
Below is the money advice each generation wouldbe wise to learn from Warren Buffett.
hey avoid unnecessary debt to maintain financial security.
However, that does not mean they should take things for granted, she explained.
They should start building their retirement corpus at an early age and take advantage of compound interest.
Balancing risk is essential.
Therefore, she said this generation should also follow Buffetts advice to diversify their investments across different classes.
He recommends low-cost S&P 500 index funds for most investors.
They are either in their initial employment years or peaking in their careers.
She said this generation should understand the difference between being frugal and miserly.
At the same time, Yen noted saving and investing money for the future is also crucial.
Therefore, Warren Buffett would advise this generation to prioritize financial literacy to make informed investment decisions.
This generation is best placed to understand and benefit from the power of compounding.
Gen Z is advantaged because they have grown with technology.
So, leveraging technology and staying informed about financial markets is crucial to making educated decisions.
Generation Alpha
Gen Alpha, born 2013 to 2024, are just beginning their financial journeys.
Warren Buffett would advise this generation to focus on their education, said Yen.
They must learn the basics of money management, saving and investing.
She noted that things learned early in life stay with you the longest.
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