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Warren Buffett: Why Most People Should Invest In S&P 500 Index - YouTube
Channel: FREENVESTING
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why have you advised your wife to invest
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in index funds after your death
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rather than berkshire hathaway i believe
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munger has cancelled his offspring to
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quote not be so dumb as to sell
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she she won't be she won't be selling
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any berkshire
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to buy the index funds all all of my
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berkshire every single share
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will go to philanthropy so that i don't
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even regard myself as owning berkshire
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you know basically it's it's committed
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and
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i've i so far about 40 percent has
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already been
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distributed so the question is somebody
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who is not an investment professional
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will be i hope reasonably elderly by the
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time
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that the uh estate gets settled
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and what is the
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best investment meaning one that
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there would be less worry of any kind
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connected with
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and less people coming around and saying
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why don't you sell this and do something
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else and all those things
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she's going to have more money than she
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needs and the big thing then you want is
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money not to be a problem
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and there will be no way that if she
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holds the s
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p of virtually no way absent something
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happened with weapons of mass
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destruction but virtually no way
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that she will shall have all the money
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that she possibly can use
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to have a little liquid money so that if
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stocks are down tremendously at some
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point
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they close the stock exchange for a
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while anything like that
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she'll still feel that she's got plenty
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of money and
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the object is not to maximize it doesn't
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make any difference
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whether the amount she gets doubles or
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triples or anything of the sort the
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important thing is that she never
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worries about money the rest of her life
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and i had an aunt katie here in omaha
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charlie knew well and worked for her
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husband as did i
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and she worked very hard all her life
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and had
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lived in a house she paid i think i
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don't know
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eight thousand dollars for 45th and
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hickory all her life
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and uh because she was in berkshire
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uh she ended up she lived in 97.
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she ended up with you know a few hundred
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million
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and she would write me a letter
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every four or five months and she said
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dear warren you know
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i hate to bother you but am i going to
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run out of money and
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and i would i would write her back and
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i'd say dear katie
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it's a good question because if you live
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986 years you're going to run out of
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money
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and and then about four or five months
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later she'd write me the same winner
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again and
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i i have seen there's no way in the
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world if you've got plenty of money
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that it should become a a minus in your
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life
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and there will be people if you've got a
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lot of money
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that come around with various
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suggestions for you sometimes
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well-meaning sometimes not so
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well-meaning
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so if you've got something that's
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certain to deliver you know
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it was all in berkshire they'd say well
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if warren was alive today you know he
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would be telling him to do this i
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i just don't want anybody to go through
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that and the s p will be a
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i think actually what i'm suggesting is
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what
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but a very high percentage of people
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should do something like that
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and i don't think they will have us
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i think there's a chance they won't have
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as much peace of mind
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if they own one stock and they've got
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neighbors and friends and relatives that
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are
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trying to do some like i say sometimes
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well-intentioned sometimes otherwise
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to do something else and so i think it's
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a policy that'll get a good result
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and it's likely to stick charlie
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well as becky said
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the wonders are different
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i i want them to hold the berkshire well
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i want to hold the berkshire too
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no i bet i mean i i i don't like them
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i recognize the logic of the fact that
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that
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s p algorithm is very hard to beat
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in a diversified portfolio of big
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companies
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it's all but impossible for most people
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but you know it's i'm just more
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comfortable with the berkshire well it's
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the family business
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yeah yeah but but it
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uh i've just i've seen too many people
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as they get older particularly
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being susceptible just having to listen
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to the arguments of people
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coming well if you're going to protect
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your heirs from the stupidity of
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others you may have some good system but
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i'm not much interested in that subject
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[Laughter]
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okay
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you
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