6 Pieces of Advice from the 90-Year-Old Billionaire Warren Buffet
Warren Buffet has been termed a legend in the financial world. As Berkshire Hathaway’s CEO and the person who successfully amassed billions of dollars with his own business wit and self-made rules for investment, he has built a reputation of being an investment guru.
Here are six key pieces of advice he has dispensed from his vast experience to help novice investors like you!
1. Invest Long Term
As somber as this advice sounds, Buffett’s most essential advice persistently in the past years. He considers investment as a long-term commitment and recommends that you invest only in companies for which you can vouch for over a decade or more. He himself has held the shares of Coca-Cola and See’s Candies for more than three decades and consequently has seen his capital grow multifold.
2. Invest in Index Funds
Buffett respects the urge to avoid risks and thus recommends you invest in low-risk and low-cost index funds progressively overtime. Since index funds usually include a bunch of companies in their portfolio, these could help you hedge from danger and see an eventual growth in your capital as the general economy improves.
3. Do Not Try to Ride the Market
Warren Buffett strictly condones the idea of timing the market. As discussed already, he believes in long-term investment. Thus, he urges you to stay strong when the markets seem to dip and not to start making impulsive decisions. In order to ensure this, he advises that you avoid observing the market at every turn and do so only seldomly.
4. Marry Smart
As unrelated to financial success as it sounds, Buffett is insistent that this advice has a lot of importance in your entire life. Your spouse will determine your spirit and will become the voice in your head. Thus, marry someone who inspires you towards betterment.
5. You Are an Asset
It is not mere encouragement. Warren Buffett insists that one must take special care of themselves mentally, physically, and emotionally. You must invest in yourself through good education, a healthy lifestyle, and a smart diet.
6. Money Shouldn’t Be the Ultimate Goal
As strange as the advice seems coming from a billionaire, Warren Buffett wants to tell you that money is transitory and cannot promise fulfillment. It is only the love of the people around you that will stay with you indefinitely. More surprisingly, this wealth will only grow as you spend it.
Thus, he insists that you be kind and loving rather than be greedy and a miser.
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