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Learn about the investor: Warren Buffett

Warren Buffett is arguably the best investor of our time.

He is a philanthropist, and as of February 2017 is in the top 3 richest people in the world. He does not go for every investment, but when he does, it pays off. Big time.

warren-buffett

Here are 5 tips from the man himself on how you can begin to get rich.

  1. Reinvest your profits. When you first earn money, you may be tempted spend it! Don’t do it! Reinvest your earnings into another investment
  2. Be willing to be different, do not solely rely on friends or family or even other investors! Do your own research, and make your decision based on it.
  3. Do not wait.  Or in Warren Buffett’s language “Never sit around sucking your thumb”.  If you find a worthy investment, go for it!
  4. Watch your expenses.  Warren Buffett buys companies where the managers obsess over the tiniest costs. Not saying that he will buy yours, however if it is something he looks for, it could be beneficial to you.
  5. Limit what you borrow.  No one ever makes money living on loans and credit cards. Warren rarely uses credit to live nor to invest.  Cash only people!

Warren Buffett is a charitable man, and once said that upon his death he would like to donate a large amount of his huge fortune to the Gates Foundation, run by Bill and Melinda Gates.

For further information on the great Warren Buffet, please find access to his website here.