Warren Buffett: Spend 1%, Give 99%

Posted by admin on Thursday, February 16, 2017

Warren Buffett Money Quote saying keeping money you don’t need is of no value, so give it to those who get something from it. Warren Buffett said:
 
Everything that I spend will be quite a bit less than 1% of everything I make. The other 99%-plus will go to others because it has no utility to me, so it’s silly for me to not transfer that utility to people who can use it. It’s doing me no good Quote
 

“In my entire lifetime everything that I spend will be quite a bit less than 1% of everything I make. The other 99%-plus will go to others because it has no utility to me, so it’s silly for me to not transfer that utility to people who can use it. It’s doing me no good” — Warren Buffett

 

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Warren Buffett is saying that he only spends a very small portion of the money he earns on himself – less than 1%. The vast majority of his earnings, over 99%, he intends to give to others through philanthropic donations. As one of the wealthiest people in the world, Buffett recognizes that after a certain point of wealth accumulation, additional money has little personal utility or value to him.

So he believes it is better to transfer that wealth to organizations and causes that can put it to good use helping others. This philosophy underscores Buffett’s commitment to effective altruism and giving most of his fortune away during his lifetime and after his death to support charitable causes.

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