Warren Buffet is recognized as one of the greatest investors of all time. He is called the Oracle of Omaha. In investment circles, he is respected by all. He is a billionaire and was one time the richest man in the world.
Someone once asked Warren Buffet, “Mr. Buffet, how can I make $30 million dollars?”. His answer can change your life forever.
START YOUNG
Start making money early. Start saving early. Start investing early. Warren Buffet started investing in his teens’ ages. The result is that he is a billionaire today. A man who starts investing at 18 has more experience than a man who starts investing at 35. People wait until they are 40 before they start investing, that’s a poor way to live. Start early.
Learn Accounting
He said “Learn all the accounting you can. Learn the language of business and finance.” Learn things like ROI, Stocks, and Mutual funds. You’d be surprised at how many people don’t know what these words mean. In today’s world, learn things like startups, cryptocurrencies, etc.
Talk To Other People Who Are In Business
Warren Buffet spent a significant part of his early years talking with a certain man, Benjamin Graham. He is the author of the book “The Intelligent Investor”, one of the best books on investing in history. Benjamin impacted so much knowledge to Warren and introduced Warren to several other business owners. This was powerful practical education from people on the front. In other words, get into a network of people who talk about money.
Read Obsessively
Warren Buffet is an avid reader. He is reported to read 500 pages a day. In a documentary titled, “Becoming Warren Buffet”, his secretary reported that Warren has one instruction: Clear up his schedules so he can as many hours for reading. Reading is the most important activity for him.
Find Your Passion
This is cliché but it is true. Steve Jobs was passionate about design. Warren Buffet is passionate about investing. Bill Gates is passionate about computers. Dangote is passionate about finance. Mo Ibrahim is passionate about technology. “If you find something that turns you on, you will go far in it. if you have found it, find a creative way to make money from it. if you haven’t found it yet, keep searching” he said. You cannot become very good at something you are not passionate about. “Find your passion and don’t let anyone stop you”.
Don’t Lose Money
Taking risks is important, but don’t forget to avoid losing money. Avoid losing money. Avoid making costly mistakes with your money. Avoid making mistakes that will make you lose your capital.
Take Care Of Your Most Important Asset
What is your most important asset? Yourself. Take care of yourself. Take care of your body. Take care of your mind. Take care of your mental health. “The most important investment you can make is in yourself”
All the best.