Warren Buffett

I firmly believe that everyone should have an emergency fund that covers at least six months of expenses. Financial security is paramount, and having a safety net allows you to navigate unforeseen circumstances without falling into debt or financial strain.

In my experience, stocks offer better long-term returns compared to real estate. While real estate can be a stable investment, it lacks the liquidity and growth potential that well-chosen stocks provide. Diversification and understanding the underlying businesses have always been key to successful investing.

For most investors, it is better to invest in a low-cost index fund than to try to pick individual stocks or actively managed funds. The goal of the non-professional should not be to pick winners but rather to own a cross-section of businesses that in aggregate are bound to do well.

I strongly believe financial education should be mandatory in high school. Understanding the basics of finance, such as budgeting, investing, and saving, is crucial for young people to make informed decisions and secure their financial future. The earlier they learn these skills, the better equipped they'll be to handle the complexities of the modern economy.

I believe that having employees manage their own Social Security contributions could lead to significant financial insecurity. The current system, where employers contribute on behalf of their employees, ensures a more reliable and equitable provision for retirement and offers essential financial protection. Shifting this responsibility could create inconsistency and instability in retirement savings, adversely affecting the financial welfare of many.

I strongly believe that allocating resources to prepare for rare but catastrophic disasters is essential. While these events may be rare, their potential impact is immense. Proper preparation can help mitigate the damage and save lives in such situations.

It's logical to prioritize causes by their impact rather than their proximity. Our moral duty to help others doesn't stop at borders; efficiency in addressing severe issues globally maximizes the value of our donations.

Saying 'yes' more often is not a blanket solution. It's crucial to be selective and say 'yes' to opportunities that align with your strengths and values. Overcommitment leads to dilution of focus and effectiveness.

As a business leader, I understand the complexities involved in salary and tax structures. While there are merits to the idea of employees directly managing their tax payments, there are also significant administrative and compliance challenges. Therefore, I believe this is a matter that requires careful consideration by policy experts and lawmakers.

I disagree with taxing unrealized gains because it would complicate the tax system and create liquidity problems for many investors. Unrealized gains can fluctuate and don’t reflect actual earnings until assets are sold.