According to Warren Buffett, You're Already A 'Million-Dollar Asset' — But He Says You Can Boost Your Value By 50% Or More With A Few Simple Self-Improvements

Your talent can be your ticket to wealth. 

As the legendary Warren Buffett put it in a 2010 Forbes interview with Jay-Z, "You're a million-dollar asset."

Buffett emphasizes that your talent is unique, and no one can take it from you — not inflation or taxes, and no external force can diminish the value of your abilities. Buffett makes an intriguing offer to students he encounters. 

"I would pay you $100,000 for 10% of your earnings for the rest of your life," he said. 

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This statement quantifies the worth of your talent, making you a million-dollar asset.

Here's the best part: You have the power to increase that value. Buffett suggests that by investing in self-improvement, you can boost your value by as much as 50%. Learning to communicate better, both verbally and in writing, is one way to achieve this. Imagine gaining an additional $500,000 in value just by refining your communication skills. It's a tangible investment that pays substantial dividends.

Buffett's advice doesn't stop at improving your skills; he advocates for cultivating the habits of success. He encourages students at all levels of education to develop these habits early on. You've got the brainpower and the energy; all it takes is building the right routines and mindset.

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He advises observing and learning from people you admire. Reflect on why you admire certain people. Is it their sense of humor, their friendliness or their willingness to give credit to others? By identifying these traits and incorporating them into your life, you can enhance your personal brand and become someone people genuinely like and respect.

But what if you admire innovators who change the world with their ideas? Think of visionaries like Apple Inc. Co-Founder Steve Jobs, Tesla Inc. CEO Elon Musk or Amazon.com Inc. Founder Jeff Bezos. They've amassed vast fortunes and transformed entire industries. Here's where investing in startups comes into play. Supporting young, ambitious companies may give you a chance to be part of the next wave of world-changing innovations. 

Just as Buffett encourages developing habits of success, consider cultivating a habit of exploring startup investments. By doing so, you secure your financial future and contribute to the progress and innovation that shape the world.

Buffett also highlights behaviors to avoid, such as stinginess, overstatement and over-promising. Making conscious decisions about your actions and character can help you build a reputation that sets you apart from the crowd.

Buffett's message is clear: You are not an average individual, and you should not settle for mediocrity. Building your own "moat" around yourself, as Buffett puts it, is the key to accumulating wealth and success over time. Your talent is your million-dollar asset, and it's up to you to nurture and grow it. Invest in yourself, develop the habits of success and watch your value soar in a world where being average is no longer an option.

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