May the Force be With You - Tips to get Rich According to Warren Buffett

Thinking of long term goals and plans to ensure the safety of you and your family’s future is always the right mindset. It is said that working alone, on an 8 hour job will never be enough to provide all your family’s needs, that’s why you have to venture on a business or make a good investment to increase your net worth.

One of the winningest and guaranteed investments you can venture to while you are young is the stock market. I’m sure you are familiar with the current status of Philippine Stock Market, and its plain to see how unstable it can get as it changes from time to time. If you’re curious as to how to invest here, take a look first at these excellent tips from Warren Buffett to help you get started:

Always Think

“You ought to be able to explain why you’re taking the job you’re taking, why you’re making the investment you’re making, or whatever it may be. And if it can’t stand applying pencil to paper, you’d better think it through some more. And if you can’t write an intelligent answer to those questions, don’t do it.” - Warren Buffett

Always think before you act. Nothing is ever achieved in a rush since doing so will most likely only increase your chances of failure. In making great decisions like investment, it is better to take your time and think things through. Planning wisely often leads to success. Never have a “come what may” mindset, instead practice thinking and weighing your options before making decisions and conclusions.

Risk

“Risk comes from not knowing what you're doing.” - Warren Buffett

Analyze the risks and the consequences that come with them. Trying to gamble and being greedy is the surest way to lose your hard-earned money. Have a definite financial plan and investment objective to lead you towards success. Make sure to know and understand your investment, where you are investing, and the financial instruments that come with it.

Think long-term and be patient

 "No matter how great the talent or efforts, some things just take time. You can't produce a baby in one month by getting nine women pregnant." - Warren Buffett

Building wealth is not an overnight project. We tend to overestimate the value or sum of money we can earn over a year, and underestimate what we can make in 10 years. Practice cultivating a mindset set for a long-term rather than on short term goals. Choosing and making right investment can assure you a wealthy future.

Choose your company

“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.” - Warren Buffett

This one’s the humblest tip ever shared. It does not only teach humility, but shows how one should stay hungry for knowledge and improvement. Never consider yourself superior, there’s always that one stranger who knows better than you. The only way to perfect your craft is to never stop learning.

The road to financial security is always risky, and you’ll meet a lot of bumps along the way. With proper guidance and right mindset, like that of Warren Buffett, there’s no way you could lose more, only endless earnings.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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