Aurora CEO on Self-Driving Trucks, Working With Nvidia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
17 minutes ago
- Yahoo
5 Warren Buffett Tips Celebrities Use To Build Lasting Wealth
If you're aiming to grow your wealth to extraordinary levels, it's wise to take a page from Warren Buffett's playbook. As one of the richest individuals in the world and a legendary investor, Buffett has mastered the art of smart financial decision-making. And his numbers speak for themselves. Buffett is currently estimated to have a net worth of about $141.5 billion — an amount you don't accumulate by accident. Read Next: Learn More: Because of this, it's no surprise that celebrities and high-net-worth individuals often turn to Buffett's insights to build and preserve their fortunes. From A-list actors and elite athletes to influential CEOs, many listen closely when the Oracle of Omaha shares his wisdom. His advice spans far beyond stock picks, touching on everything from nurturing relationships and honoring commitments to investing in companies you truly believe in. If you are looking to make better financial choices and pad your bank account as much as the rich and famous have, it's time to tune in to Buffett's timeless principles. Strong Relationships Build Wealth Bill Gates and Warren Buffett don't just share a spot on the list of the world's wealthiest individuals, but they also share a decades-long friendship. One of the most meaningful lessons Gates says he's learned from the legendary investor is the value of relationships. 'Warren Buffett talked about how, in the end, it's how your friends truly think of you and how strong those friendships are that really matters,' Gates once shared. This isn't the first time that the co-founder of Microsoft, with an estimated net worth of $116.8 billion, has spoken warmly about Buffett's relationship advice. Reflecting on their history, Gates has said, 'I've learned many things from Warren over the last 25 years, but maybe the most important is what friendship is all about.' For both Gates and Buffett, building wealth doesn't have to come at the expense of meaningful connections. Consider This: 'A Brand Is a Promise' A-list actress and Grammy-winning singer Jennifer Lopez revealed that her fragrance, Promise, was directly inspired by advice from Warren Buffett. The name stems from one of Buffett's most well-known branding philosophies: 'A brand is a promise.' Lopez embraced that idea wholeheartedly, building a powerful personal brand that has helped her amass an estimated net worth of $400 million. Buffett has shared this concept of 'keeping promises' at several Berkshire Hathaway shareholder meetings, emphasizing the importance of trust and consistency in business. Lopez said the message deeply resonated with her. 'He said a brand is a promise. And I just feel like everything that I put out into the world has to be a promise,' she explained. 'We have to have promises with ourselves. It's really the foundation that keeps us going. It really made me think about life in a bigger way.' Invest for the Long Term World-renowned alpine skier Mikaela Shiffrin is among the many high-profile individuals who closely follow Warren Buffett's investment philosophy. Known for prioritizing long-term value over short-term market trends, Buffett consistently advises investors to put their money into businesses they genuinely believe in. In the 2022 Berkshire Hathaway Annual Report, Buffett emphasized this approach: 'Our goal in both forms of ownership is to make meaningful investments in businesses with both long-lasting favorable economic characteristics and trustworthy managers. 'Please note particularly that we own publicly traded stocks based on our expectations about their long-term business performance, not because we view them as vehicles for adroit purchases and sales. That point is crucial: Charlie [Munger] and I are not stock pickers; we are business pickers.' Buffett's strategy highlights the importance of patience, trust and belief in a company's fundamentals, principles that resonate with Shiffrin and many others seeking financial growth. Protect Your Customers and Protect Your Brand During an interview with Barron's Editor-at-Large Andy Serwer, American Express CEO Stephen Squeri shared a critical piece of advice he received from Warren Buffett. 'Warren is our largest investor, and I talk to him quite a bit,' Squeri said. 'And during the pandemic… his advice to me [was] to 'protect two things. Protect your customers and protect your brand.'' It was this advice that shaped how Squeri led the company during a time of economic uncertainty. While many companies were scaling back, Buffett's words encouraged American Express to lean in. 'It would have been pretty easy to pull back even more,' explained Squeri, 'but we invested [in] more value propositions for our customers. We invested in our colleagues. And we invested in our brand.' The results speak for themselves. American Express emerged stronger, with profits continuing to soar. Final Take To GO: Apply Buffett's Principles To Build Lasting Wealth You may not have the fortune of a celebrity, A-list athlete or legendary investor, but that doesn't mean you can't start building your own. By following timeless advice from experts like Buffett — focusing on long-term investments, strong relationships and brand integrity — you can lay the foundation for lasting financial success. It may take time, but with discipline and the right mindset, your wealth-building journey can begin today. Caitlyn Moorhead contributed to the reporting for this article. More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 8 Common Mistakes Retirees Make With Their Social Security Checks I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on 5 Warren Buffett Tips Celebrities Use To Build Lasting Wealth Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
This Future Retiree Plans To Downsize His $1M Home To Cover Health Insurance — Is It A Smart Move?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. As retirement approaches, one of the biggest unknowns many Americans face is how to pay for health insurance before Medicare kicks in at age 65. One future retiree recently shared his strategy online: sell his $1 million home, downsize to a smaller, less expensive property, and use the equity to bridge the gap until he qualifies for Medicare. It's a move some have considered — but is it a good idea? Trading Square Footage for Subsidies Posting to the r/retirement subreddit, the 60-year-old homeowner explained that he and his wife plan to retire in a few years. Their house is paid off and valued at around $1 million. With grown children and 3,000 square feet of space, they feel ready to downsize. The plan is to sell the current home and buy a $300,000 to $400,000 replacement. Don't Miss: Be part of the breakthrough that could replace plastic as we know it— $100k+ in investable assets? – no cost, no obligation. The equity from the sale would be used for living expenses, with a specific goal: keeping their Modified Adjusted Gross Income low enough to qualify for Affordable Care Act subsidies. This would help offset the cost of health insurance until they become eligible for Medicare at 65. Several Reddit users responded with encouragement — and caution. The Cost of Healthcare Before Medicare Healthcare expenses can be a major burden for early retirees. According to the Milliman 2024 Retiree Health Cost Index, someone retiring at 60 instead of 65 can expect to spend 56% to 89% more on healthcare over their lifetime, depending on the plan they choose. The earlier you retire, the more years you must cover before Medicare, often at a higher out-of-pocket cost. Some Reddit users suggested exploring the Consolidated Omnibus Budget Reconciliation Act, or COBRA. This program allows individuals to continue their employer's health insurance for up to 18 months. One retiree said it cost them $750 a month — cheaper than ACA options at the time. But for someone retiring at 60, COBRA wouldn't cover the full five-year gap. Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — Risks of Relying on Home Equity Selling a home to unlock cash might offer flexibility — but it comes with trade-offs. Once the home is sold, that equity is no longer growing, and there's no guarantee the market will stay favorable if the retiree needs to sell quickly. Another consideration: capital gains tax. The Reddit poster said they bought the home for $490,000. If they sell it for $1 million, they'll be close to the $500,000 capital gains exemption for married couples. But with selling costs and home improvements factored in, they may still owe tax if the gain exceeds the limit. Reddit users also warned about downsizing regret. Some retirees have moved, only to later wish they had stayed in place — and found it difficult or expensive to reverse at the Bigger Picture While downsizing could reduce living costs, relying too heavily on that equity could be risky. With only 1–2 years of living expenses in a Roth IRA, the couple's ability to weather changes — like a drop in home values or rising insurance premiums — may be limited. That's why several commenters emphasized the importance of professional advice. As one noted, income, savings, and expenses are all different — and managing them requires careful planning. By exploring multiple options, testing assumptions, and working with a financial planner, future retirees like this one can build a plan that works — without putting their long-term stability at risk. Read Next: This Jeff Bezos-backed startup will allow you to . Image: Shutterstock This article This Future Retiree Plans To Downsize His $1M Home To Cover Health Insurance — Is It A Smart Move? originally appeared on
Yahoo
17 minutes ago
- Yahoo
CC Sabathia's car breaks down on way to Cooperstown for Baseball Hall of Fame induction
CC Sabathia's 19-year Major League ride toward baseball's Hall of Fame appears to have been a smoother one than the actual drive he made to Cooperstown for this weekend's induction. Heading to Cooperstown with his family for Sunday's festivities, Sabathia's car apparently broke down on the side of the highway, leaving the New York Yankees great and his family temporarily stranded. Sabathia posted a photo (with laughing emojis) on X, formerly Twitter, of himself, his wife Amber and their children on July 24 at 8:22 p.m. Sabathia posted the words: 'Car broke down on the way to Cooperstown. Anyone headed that way?' The road sign in the photo showed Route 17 West in upstate New York. Sabathia later posted at 11:02 p.m. that he and his family made it to Cooperstown: And on Friday, July 25 at 10:47 a.m., Sabathia posted a photo of the Cooperstown grounds where he will be speaking Sunday: This article originally appeared on CC Sabathia car breaks down on way to Cooperstown for Hall of Fame induction
