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10 Best Money Lessons Shared by Jeff Bezos

Kristopher Kane

7 min read

Jeff Bezos needs no introduction, as he is consistently ranked within the top five of the richest men in the world. As the founder of Amazon, owner of the Washington Post and aerospace giant Blue Origin, Bezos has insights on creating and managing wealth from a unique vantage point.

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With a current estimated net worth of $224.9 billion, he is the fourth richest person in the world, placing him just behind Elon Musk, Larry Ellison and Mark Zuckerberg. Simply put, he knows how to make a dollar or two. Therefore, the lessons he’s shared over the years aren’t just valuable for high-level entrepreneurs and CEOs, but also for those who are more concerned with their finances.

Here’s a look at the top 10 money lessons Bezos shared that help guide your personal financial decisions and contribute to your future success.

Treat any new investment, whether in the stock market, an exchange-traded fund or a new business, like planting a seed. All seeds need the right conditions to grow and prosper; more than anything else, they need time.

The right investments provide concrete returns, and if you’ve done your due diligence and researched your investment thoroughly before committing to it, they significantly increase your wealth. But the key is patience. You can’t rush a harvest, and you can’t expect steep returns overnight.

You may have heard the phrase, “You can’t unring a bell.” The same thinking applies to financial decisions.

Bezos calls the more significant type of choice a “Type One” decision. He likens it to stepping through a one-way door. Once you go through it, there’s no going back. These decisions should be made carefully and with the input of others with relevant experience.

What Bezos calls “Type Two” decisions are less serious and reversible, like putting money in a savings account. These are more like two-way doors. Don’t spend too much time mulling these over, and make them as promptly as possible. “Type Two” decisions are best made by individuals or small groups with sound judgment, according to Bezos.

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No one runs before they walk, and you’re not likely to make the right investments or financial decisions all the time. Bezos says this is a part of the process, and you can’t achieve success without experiencing a few stumbles.