Warren Buffett – Top Investing Tips From The Business Guru
On August 30th 2020, Warren Buffett, the Oracle of Omaha, turns 90. Every investor knows Warren. He’s the CEO and Chairman of Berkshire Hathaway, a philanthropist, and a business tycoon. Popularly regarded as one of the most successful investors globally, he’s worth $79 billion and ranks at the position of the seventh wealthiest person in the world.
If that doesn’t impress you, we don’t know what will!
We, for one, are floored by the wealth of knowledge this man possesses concerning investments. And that’s why we’ve rounded up a few golden tips straight from Warren and listed them here for you. Check them out.
Be debt free
If you want to be wealthy as Warren Buffett, you must take a stand with him. In 2004, a 13-year-old boy asked Buffett to give him some piece of advice. The man replied that his advice would be not to get into debt. He further said that spending more than what you earn is tempting and very understandable, but it’s a bad idea. So, if you’re planning to start your investment journey, first settle all your debts and then step in.
Put your money into index funds
You can start with index funds. In 2020, during Buffett’s annual meeting, he remarked that, based on his perspective, the best thing to do was having the S&P 500 index funds. This came as a surprise because he himself didn’t build his empire on index funds (he started with buying the shares of individual companies). But to validate his advice, he revealed that his trustee had invested 90% of his wife’s inheritance into index funds on his directions.
Don’t invest all your money
You probably think that you need a lot of money for you to be as wealthy as Warren Buffett, right? Well yes, you do need money, but not all of it should be used up in investing. In 2014, Buffet said that at least $20 billion is set aside from his wealth as an emergency fund for his company. You should also have an emergency fund if you want to stay in investments for the long term.
Lao Tzu once said – those who know, don’t predict, and those who predict, don’t know. As a novice in investing, you may think the field is based on predictions, but that’s not entirely true. You have to learn about the market and its drive. You have to learn how to be a good and disciplined investor. In 2007, Buffett said that he would read every investment book in the Omaha public library when he was ten. Learning arms you to take up any challenge.
The bottom line
Warren Buffett is the idol of all beginner investors. If you’re looking for some investment tips, you should take this man’s words to your heart.
More in Advisor
Kick-starting a Financial Plan? Rope in a Financial Planner First!
Irrespective of how much you earn, you need to start saving and investing at some point in life. After all, if...April 4, 2021
Former US President’s Economic Advisor Guarantees Retirement Savings For All Americans in His Proposal
For decades, the US economy continues to fall short of sufficient wealth and retirement funds for most Americans. Kevin Hassett, the...April 2, 2021
Life Changing Money Saving Tips For Millennials
Though every generation experiences a different set of economic barriers, millennials’ challenges turn out to be unique in every aspect (FYI,...March 26, 2021
Are Investment Tips from Jay-Z Useful for You?
Jay-Z is a 51-year-old American rapper, songwriter, record executive, and entrepreneur. He has dominated the music industry since 1996, and then...March 26, 2021
Beginner Tips to Help You Build a Strong Stock Portfolio
Everything about the stock market screams “jungle”. Yet, this jungle holds the potential of landing you a goldmine. If you’re looking...March 24, 2021
Wondering How to Run Your Law Firm Remotely? Here Are Some Tips
Since the spread of COVID-19, every business has suffered in one way or another. Just like all other organizations, law firms...March 23, 2021
Gold Prices Just Rose Again! Is Investing a Good Idea?
In recent times, a lot of stress has been put on having a sensible investment portfolio. Unfortunately, when given this advice,...March 22, 2021
All You Need to Know About Expanding Your Investments
Financial insecurity has increased greatly over the past year. Many people lost their employments, start-ups were shut down and some even...March 21, 2021
Before You Invest Your Tax Returns or Stimulus Checks, Give This a Read
Tax returns are always great to receive. They’re like a gift you indirectly give yourself. The 2020 tax year, which was...March 20, 2021