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8 Things Warren Buffett Did To Make $53,000 By Age 16

8 Things Warren Buffett Did To Make $53,000 By Age 16

Warren Buffett is one of the most famous billionaires in the world, with good reason. He’s a very impressive man, and before that he was a very impressive young man. Buffett earned a staggering $53,000 by the time he was sixteen. How did he accomplish that feat?

Here are several of his methods listed below.

1. Warren Buffett sold soda pop and chewing gum.

At the tender age of six, Warren Buffett made his first sale. He started off selling packs of chewing gum, before moving on up to the more profitable cartons of Coca-Cola.

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2. Warren Buffett delivered newspapers.

At a young age, Warren did what a lot of boys did to make some money: he had a paper route. As an avid reader of the news, like the rest of the family, the part-time job was a perfect fit. But, unlike most boys, Warren Buffett juggled three different paper routes for two rival newspapers. What really made him stand out though, is how he utilized his brain doing this somewhat mindless chore. Here is an excerpt from his biography, The Snowball: Warren Buffett and the Business of Life.

“I liked to work by myself, where I could spend my time thinking about things I wanted to think about […] I could be sitting in a room thinking, or I could be riding around flinging things and thinking.”

3. Warren Buffett sold golf balls.

Along with his friend Stu Erickson, Warren Buffett sold used golf balls at the Elmwood Park golf course.  They got in trouble with the cops for doing it, but Warren’s parents didn’t mind. They were mostly just proud of their son’s ambition.

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4. Warren Buffett sold peanuts and popcorn at football game.

A born salesman, Warren Buffett walked through the stands of the University of Omaha stadium yelling, “Peanuts, popcorn, five cents, a nickel, half dime, fifth of a quarter, get your peanuts and popcorn here!”

5. Warren Buffett sold stamps.

Buffett’s Approval Service offered stamps to out-of-state collectors… for a price.

6. Warren Buffett made money off of pinball machines.

Warren bought a broken pinball machine for twenty-five dollars, and went to his friend Don Danly to fix it. Together they started Wilson’s Coin-Operated Machine Company. They asked a local barber if they could put the machine in the back of his shop, in exchange for half the money they raised. In just a single day, enough customers at the barbershop played pinball to make four dollars. Within a week Warren had enough money to buy more pinball machines, which he negotiated into other barber shops, building a small empire before he could even legally vote.

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7. Warren Buffet made money at the horse tracks… without even gambling!

Warren Buffett and his friend Bob Russell were too young to gamble, but that didn’t stop them from cleaning up at the horse tracks. They looked everywhere for discarded tickets that might be worth something. Buffet describes this in his own words,

“They called that ‘stooping.’ At the start of the racing season, you get all these people who’d never seen a race except in the movies. And they’d think that if your horse came in second or third, you didn’t get paid, because the emphasis was on the winner, so they’d throw away place and show tickets. The other time you’d hit it big was when there was a disputed race. […] By that time, people had thrown away their tickets. Meanwhile, we were just gobbling them up.”

8. Warren Buffett built a bigger snowball.

At the very beginning of the The Snowball, author Alice Schroeder writes about how Buffett would catch snowflakes at the age of nine. He’d proceed to scoop up handfuls of snow. He turned those into balls of snow, and placed what he’d collected on the ground. He pushed and picked up more and more snow, building a bigger and bigger snowball.

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That’s how Warren Buffett made $53,000 by the age of sixteen: continuing to add to what he already had, until he’d cultivated a small fortune. Years later, that small fortune would grow to one of the biggest networths in the world. To speak metaphorically, it’s all due to Warren Buffett’s dedication to building a bigger snowball, one tiny snowflake at a time.

Featured photo credit: BorsheimsJewelry via flickr.com

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Last Updated on August 15, 2018

30 Fun Things You Can Do This Summer Without Spending Much

30 Fun Things You Can Do This Summer Without Spending Much

Summertime can be a real strain on your wallet. The sun is out, there are people to see, places to be; it’s no wonder you might be short of funds during these sunny months. Not everything has to cost you an arm and a leg.

Take some time to go through this list of 20 cheap summer activities and make some realistic goals to complete as many as you can.

Video Summary

1. Visit a strawberry festival

Summer is prime time for tasting strawberries. More often than not, an area that grows strawberries will have a strawberry festival. Indulge yourself in strawberry pies, jams, cakes and more!

2. Have a picnic

Take your partner or your family to the local park and enjoy a relaxing picnic. Designate each person to bring one food item of their choice to add to the fun.

3. Camp in your back yard

    The summer heat can sometimes make it hard to sleep. Why not enjoy the heat outside in the yard? Pitch a tent or gaze into the night sky.

    4. Take long walks

    Discover something new where you live. Take the afternoon off from your chores and go for a long walk. You may be surprised by what you discover.

    5. Break a world record

    Breaking a world record doesn’t have to be time-consuming. You could even break one on your lunch hour. Give it a go!

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    6. Go on a bike ride

    The number of bike paths on roads in big cities has increased dramatically over the years. Take advantage, and enjoy the summer breeze.

    7. Join a gym class

      The gym is not everyone’s idea of a good time, but why not go with a friend a join a class? Spinning, yoga and step classes are always more fun with friends, and a lot of gyms allow you to pay-as-you-go.

      8. Find a new hobby

      The summer is the perfect time to find a new hobby. Serotonin (our body’s natural “happy” hormone) is produced by the sunshine and will be at a yearly high, which is great for when we want to tackle something new.

      9. Join a sports team

      Not all sports teams are competitive and require huge amounts of your time. Join in the fun with like-minded people, get fit, stay healthy and make some friends along the way.

      10. Make a slip ‘n slide

        Gather your friends, some plastic sheeting, a hose, washing up liquid if desired, and make a huge slip ‘n slide just like these guys. Granted, yours won’t be as big, but you get the idea… it’s fun!

        11. Make a treasure hunt for your kids

        Today’s digital world sees our children more often than not playing inside than outside. Why not create a sense of adventure by making a treasure hunt? Only rule? It has to be outside.

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        12. Visit a free festival

        Towns and cities are awash with free festivals, with themes from film to science. Scout your local area and discover something new.

        13. Visit the zoo

          Let’s face it: we love animals. While browsing news websites and social media networks you’re bound to come across a few pictures of cats. Take a trip to your local zoo for a better experience.

          14. Take a road trip

          Enjoy the open road with a few friends and take a road trip somewhere–anywhere. Just go out and enjoy the sunshine!

          15. Play ultimate frisbee in the park

            Frisbee is always great fun down the park, but why not turn it into more of a competitive sport by playing ultimate frisbee?

            16. Make your own ice cream

            Ice cream is a very versatile dessert. Make a sandwich, enjoy a cone, or simply just enjoy a bowl full. Better yet, making your own ice cream allows you to create any flavor you want.

            17. Invite your neighbors over for a BBQ

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              When was the last time you invited your neighbors over? Do you even know them? Now’s your chance. Just ask each person to bring a food item so costs don’t mount up for you.

              18. Get a summer job

              For many students, summer is the time for relaxation and fun. But who said earning money and being productive isn’t fun? You only get out what you put into a situation.

              19. Attend a charity event

              Attending a charity event is a great way to raise funds and awareness for a cause, meet new people, and generally have a good time. Search for your local charity event today.

              20. Visit a national park

              National parks are a great way to explore nature and learn something new. You could even volunteer and make a difference in helping restore natural habitats.

              21. Visit your local comedy club

                Local comedy clubs are extremely underrated. They are cheap to attend and no doubt you’ll have a barrel of laughs.

                22. Make your own hammock

                  Hammocks are very relaxing, are perfect for summer afternoons and are surprisingly easy to make.

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                  23. Read in your new hammock

                  Now you have your very own hammock, the only thing left to do is enjoy it. Grab your favorite book and read to your heart’s content.

                  24. Watch a movie outside

                  Movies are great. Relaxing outside in the evening is great. Put them together and you’ve got a perfect combination. In D.C, Maryland and Virginia this summer, for example, you can enjoy a huge number of movies outside.

                  25. Take a hike

                    Hikes are a great way to keep fit and see more of Mother Nature. There are countless trails available for you to explore. Why not try some this summer?

                    26. Learn how to fly a kite

                    As a child, you probably had a kite and haven’t touched it since. Why not dust it off and attempt to fly it? It’s tricky, but well worth the challenge.

                    27. Work out at the park

                    American cities are full of parks with ample space for a work out session. No doubt you’ll be happier to work out in the sun rather than a crowded gym.

                    28. Take your dog to the beach

                      One of the many joys of owning a dog is taking him or her for long walks during the summertime. This joy is enhanced when visiting the beach, for both you and your dog.

                      29. Make a summer smoothie

                      Healthy, delicious and perfect for the summer. Not only that, there are countless recipes ready for you to try.

                      30. Attend a free yoga session at the beach

                      No experience needed and all skill levels are welcome. Take yourself and a buddy down to the beach and try some yoga. You’ve got nothing to lose!

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