8 Money Making Secrets from Warren Buffett
When it comes to investment success, Warren Buffett has to be near the top of the list (some say he belongs at the very top). He has his own rules for thinking about investments as well as making decisions about where to put his money, following eight money making secrets which are simple but powerful.
So what are his eight top secrets for building wealth? First of all, Buffett believes strongly in thinking like a rich person in order to become rich, believing that success is possible. Second on the list really isn’t about money but people. Buffett has said, time and again, that without love, all the money in the world won’t make a difference. The third secret seems simple enough – spend less than one earns – but is one that many who find themselves in debt, lured by impulse buys, find hard to practice. Fourth on the list of investing secrets from Buffett involves caution in building up consumer debt spent on too many discretionary items. This kind of debt adds interest to the amount owed, but no savings.
The fifth tip? It really boils down to finding mentors, those who are more experienced in financial matters. These people can share information about making money. A sixth point focuses on avoiding money gambles or the quick or easy high stakes investment. Buffett isn’t a gambler, not when it comes to investing. The seventh and eighth tips are related. Buffett believes in giving back to worthwhile charities, backing up his words with millions donated to the Bill and Melinda Gates Foundation, helping needy children to get vaccines, food and protection against malaria. His final tip? Remember those who were generous enough to provide help along the way and give back to them or others, generously passing along wisdom or other assets to help others recognize their dreams.
About the Author: Brett Combs is a staff writer for www.shermantx.info the leading online resource for local information for the Sherman, TX and the Texoma area.
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