Warren Buffet shared his secrets, 10 Ways to Get Rich and I thought a few of them were really great.
My favorites:
1. Reinvest your profits.
2. Be willing to be different. Don’t base your decisions upon what everyone is saying or doing.
5. Watch small expenses.
6. Limit what you borrow. His advice: Negotiate with creditors to pay what you can. Then, when you’re debt-free, work on saving some money that you can use to invest.
10. Know what success really means. “When you get to my age, you’ll measure your success in life by how many of the people you want to have love you actually do love you. That’s the ultimate test of how you’ve lived your life.”
…Because learning from really, really rich people is always a good idea. They’ve obviously done something right.
October 23, 2008 at 12:04 am |
This is all great advice from the man. I think he also said something about not getting short, as there is no limit to how much you can loose. He has also said he did a lot of arbitrage when he was younger, and that’s something I am doing right now.