Personal Development, Business, Finance, and Investing for Everyone
An investment in knowledge always pays the best interest.
At first they will ask why you're doing it. Later they'll ask how you did it.
How well did you know Mr. Warren Buffett? Who is he?
Mr. Warren Buffett also is known as the "Oracle of Omaha," a nickname given to him because of his investment picks, comments on the market, and he lives and works in Omaha, Nebraska. He is one of the most successful investors of all time. He is also a Philanthropist. According to Forbes.com, Mr. Buffett's Net Worth is $73.9 B (as of 7/22/17).
So you're wondering how Mr. Buffett achieved financial success. Almost every successful person begins with two beliefs: the future can be better than the present, and I have the power to make it so. Below are the excellent rules and tips from Mr. Warren Buffet on how to achieve financial success.
Rules to Riches
Reinvest Your Profits
Don't be tempted to spend your profits, reinvest the profits instead.
Be Willing To Be Different
Don't base your decisions upon what everyone is saying or doing.
Never Suck Your Thumb
Gather in advance any information you need to make a decision.
Spell Out The Deal Before You Start
You bargaining leverage is always greatest before you begin when you have something to offer.
Watch Small Expenses
Benjamin Franklin once said that "Beware of little expenses, a small leak will sink a great ship." Be obsess over the tiniest costs.
Limit What You Borrow
Living on credit cards and loans won't make you rich.
With tenacity and ingenuity, you can win against a more established competitor.
Know When To Quit
Know when to walk away from a loss, and don't let anxiety fool you into trying again.
Assess The Risk
Asking "and then what?" can help you see all of the possible consequences when making a decision.
Know What Success Really Means
Measure success by how many of the people you want to have love you, actually do love you.
Never depend on a single income. Make investment to create a second source.
If you buy things you do not need, soon you will have to sell things you need.
Do not save what is left after spending, but spend what is left after saving.
INCOME - SAVINGS = EXPENSES
On Taking Risk
Never test the depth of the river with both feet.
Do not put all eggs in one basket. Learn to diversify.
Honesty is very expensive gift. Do not expect it from cheap people.
If you don't find a way to make money while you sleep, you will work until you die.
For more updates about
Personal Development, Financial and Investment Education. Join and Subscribe to my Newsletter.
ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.