The Ultimate Goal: Giving back and forgetting about the paycheck

The Ultimate Goal:  Giving back and forgetting about the paycheck

According to a filing released on Friday, Berkshire Hathaway’s Warren Buffett has an annual salary of only $US100,000 (of which he gives back $US50,000 to the company to cover minor items such as postage or phone calls that are personal).  This means his salary is only 1.87 times the median employees pay.

It’s safe to say though that he’s certainly not short of cash holding the title of third richest person in the world.

Worth approx $US88.8 billion according to the Bloomberg Billionaires Index (thanks predominantly to his stake in Berkshire itself), this is a man who clearly lives by his words ‘if you don’t work out a way to earn money while you sleep, you work until you die’.

Did you know that back in 2006 he announced that he would gradually give away the majority of his fortune to charity?  Well, he wasn’t kidding.  To date, his total charitable contribution to organizations has reached $27.54 billion in just over ten years.

Is this is the ultimate financial goal in life?

To have the ability and funds to be able to give back without being reliant on your next paycheck?  To help make the world a better place, without having to spare a thought about your own financial pressures?

We think so.

You can read the full article in the Financial Review here.

John Pidgeon
Director – Solvere