Known as the «Oracle of Omaha», Warren Buffett is considered one of the greatest investors of all time. Warren bought his first stock at the age of 11. And today, the American entrepreneur is already 92 years old. Can you imagine? He’s got more than 80 years of investing experience!
Let’s talk about Warren Buffett’s tools and tricks, which allowed him to build a fortune worth more than $100 billion.
1. Find your true passion and enjoy it!
Do what you love and forget about the salary.
2. Choose the right heroes
Find your role model, someone you admire and look up to. Imitate! Imitation is a first step that could help develop your unique features and skills. But remember, your individuality is your biggest asset. The ultimate goal is to be yourself and be happy about it.
3. Invest in yourself
If you invest in yourself, no one can take it away.
4. Learn the basic rules of how the economy works
Industries and businesses don’t live forever. But the cumulative basic principles that worked 20-30-50 years ago will always work.
5. Be honest
Mind skills and energy are good only if accompanied by conscientiousness. Do not lie to yourself. Never lie to yourself.
6. Take care of yourself
“You only get one mind and one body. And it’s got to last a lifetime. But if you don’t take care of that mind and that body, they’ll be a wreck 40 years later…it’s what you do right now, today, that determines how your mind and body will operate 10, 20, and 30 years from now”.
7. Treat your mistakes as valuable lessons
You’re going to make mistakes in life, and there’s no way you’re gonna succeed in business and investing without making some mistakes. Try to minimize them and just don’t dwell on them at all. Learn from your mistakes and keep going. Don’t look back.
8. Avoid credit cards
It is impossible to achieve financial well-being by regularly borrowing money. To borrow from the bank means to work for the bank for free.
Warren Buffett says: starting from the age of 70, you begin evaluating your life with how many people love you (not for your money). That is what matters. You can’t buy love. The only way to get love is to love back.
Do you want to make
love money on FOREX, crypto, commodity indices, and other assets?