If you are interested in business, you ought to learn all the accounting you can by the time you are in your early 20s.
Accounting is the language of business. It doesn’t mean it’s a perfect language. You have to know the limitations of that language as well as all aspects of it.
You should work at a number of businesses – in term of part-time employment or anything else. There’s nothing like seeing how business operates to build your judgement in the future about businesses.
When you understand what kind of things are competitive and what kind of things are less competitive and why that works that way, all of that adds to your knowledge.
You should do a lot of reading.
If you are interested in investments, you should take the accounting courses. You should do a lot of reading and get as much business experience as possible.
You should talk business people with people that are in business to find out what they think makes their operation tick or where they have problems and why.
If you understand business, you understand investment. Investments are simply business decisions in terms of capital allocation.
Any dollar you save before you get out and start having a family is probably worth $10 later on simply because you save it. The time to save is young. You’ll never have a better time to save than really free formation of a family.
Work for yourself first and put the money aside. I was able to save everything I made in my teens and those dollars got magnified quite a bit.
About me and why this series:
I got a life-changing experience studying Warren Buffett’s annual letters in 2013 after 10 years of speculating, market timing, charting, and forecasting. I started investing in the Vietnamese stock market in 2015 with what I saved from my engineering job. In 2018, I decided to study Warren Buffett’s investing again by going through all of available Berkshire Hathaway’s annual meeting videos. It has been another life-changing experience. Warren Buffett’s teaching is a real germ and yet not many people replicate. Hence, I am committed to share what I learned.
You can subscribe to my blog to follow the series of what Warren Buffett has been teaching in his annual meetings. I attempted to modify but keep as much as possible what he spoke.