Warren Buffett Tips – 5 Kickass Life Lessons To Learn From Warren Buffett
Want some excellent Warren Buffett Tips? Here are 5 kickass life lessons to learn from the master himself Warren Buffett.
We all know that the super-investor Warren Buffet is the master when it comes to money and you might be wondering what he could potentially teach you about life.
Well it turns out he knows a lot!
Warren is famous for his simple lifestyle and love of his work.
In his own words:
Without passion, you don’t have energy. Without energy, you have nothing. Warren Buffett
If you don’t find a way to make money while you sleep, you will work until you die. Warren Buffett
Now it’s time to look at the lessons he can teach us about finding contentment in our life (from a man who turned $100 into $30 Billion):
WARREN BUFFETT TIPS
# 1 Focus on what you love.
You would expect a billionaire to live in the biggest mansion ever but it turns out Warren has a nice, but modest home, and drives a $40,000 car.
He could own the most expensive home and cars in the world but he doesn’t.
He drinks Coke, buys what he likes, and enjoys a relatively simple life.
- Lesson here: Enjoy your life and the things you have. Avoid being concerned about what everyone else has or about what you could have. It’s more satisfying to own one perfect painting than to own 10 that don’t thrill you.
- Seek out the things you love and avoid wasting your time on the rest.
WARREN BUFFETT TIPS
# 2 Quality is more important than quantity.
You only need to make a few good decisions to be incredibly successful.
Warren Buffett has hundreds of billions of dollars to invest for himself and others, yet he frequently only owns 20 or so stocks.
Be picky.
Be happy with a smaller quantity.
- Warren has a very famous line that basically states, “Your financial wealth would be much greater if you could only make 20 investments in your lifetime. You would make sure they were great if you had only 20 chances.â€
WARREN BUFFETT TIPS
# 3 – Do what you love.
Warren has said that the most important part of success and contentment is doing what you love every day.
That’s why he’s never stopped investing and making money.
If you’re spending your time doing what you love, you continue doing the same thing regardless of how much money you have.
- You might not enjoy the career you have right now. But are you doing anything to change that?
- Do you have a plan? Imagine how much more content you would be if you enjoyed going into work each day.
WARREN BUFFETT TIPS
# 4 – Mind your own business.
You needn’t be concerned with what the competition is doing.
Avoid being influenced by everyone else.
If you do what everyone else is doing, you’ll simply be average.
Avoid comparing yourself to everyone else.
Follow your own intuition.
- Most of us are overly concerned with others. We’re worried about how we compare. We’re worried about their opinions of us. They’re probably thinking the same things. Get yourself out of that loop and do your own thing.
WARREN BUFFETT TIPS
# 5 – Stick to your talents.
Warren is famous for shunning high-tech investments, even when they were practically a sure thing.
He has stated that he simply doesn’t understand them well enough to invest in them.
Stay in your areas of strength.
You don’t need to do everything.
Focus on what you know well.
- We usually enjoy doing the things that showcase our strengths. That’s human nature. It also makes life easier.
- Work on your weaknesses, but leverage your strengths.
You might be thinking, “Yeah, anyone could be content with $50 billion.“
But honestly that’s not true.
Studies have shown that happiness and income are only correlated to $75,000.
Above that income level, happiness does not increase.
Super wealthy people became wealthy largely because they were content living a particular way.
You can be just as content, even if you never amass a mega-fortune.
Aim to increase the amount of contentment in your life.
Honestly be open to the fact that more money might not necessarily make you happier.
Maybe you will feel a sigh of relief or more secure but that feeling of happiness comes from within.
My favorite Warren Buffett quotes:
Price is what you pay. Value is what you get.
Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be a more productive than energy devoted to patching leaks.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
One can best prepare themselves for the economic future by investing in your own education. If you study hard and learn at a young age, you will be in the best circumstances to secure your future.
The most important investment you can make is in yourself.
I believe in giving my kids enough so they can do anything, but not so much that they can do nothing.
If you buy things you do not need, soon you will have to sell things you need.
It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.
Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.
If you get to my age in life and nobody thinks well of you, I don’t care how big your bank account is, your life is a disaster.
You’ve gotta keep control of your time, and you can’t unless you say no. You can’t let people set your agenda in life.
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