Investing time and resources with Warren Buffet
The most famous and successful investor of the modern age WB is such an inspiring person. This bright man has become successful owing to his wealthy mindset. He never doubted his abilities and believed he is strong enough to persist on his way to gaining the wealth. He is not only rich in terms of commodity possession, but he is also wealthy in terms of mentality and education. He managed to read every day for about three hours at least for decades. He is the human guide to the ones who are willing to grow mentally and get wealthy as he did. Let’s take a look at his life philosophy to gain some unbelievable power from his words!
“It’s better to hang out with people better than you. Pick out associates whose behaviour is better than yours and you’ll drift in that direction.”
According to the great motivator Jim Rohn, you are the average of the 5 closest people to you. The average of the people you spend the most time with. The people you surround yourself with are the most important ones to your growth. If you don’t have any inspirational people to meet on a regular basis, you should better look for them. You need to inspire and learn from them. This is essential!
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.”
Just think before you act. Every time when you make some decision try to give yourself a particular time to come up with the best one. Obviously, the best one isn’t possible to get from your brain every time, but at least you can try it with giving yourself some extra time to think.
However, don’t be constantly overthinking. Overthinking is the number one killer of success and a positivity for the vast majority of people indeed.
“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”
The right set attitude and the powerful thinking combined with an application of the law of attraction can lead to massive success. Just imagine yourself being rich, healthy and happy. You will sooner or later begin to feel like that and the power of your thoughts and deeds will help you to make a great stride towards your financial or any other independence.
“Our favourite holding period is forever.”
When you pick up something, it doesn’t have to be the area of stocks, you should be able to look at the mirror and tell yourself that this is actually the thing you want and that you are willing to keep it for a lifetime. This rule could be applied anywhere in your life. What it basically says is the fact that you should consider whether you’ll be happy with your choice for a lifelong time. It should make you more aware of the power of investment when it’s done right or wrong. The both has its own consequences and it’s completely up to you. You’ve got the power in your hands, it’s upon you how you’ll grab it.
“If you buy things you do not need, soon you will have to sell things you need.”
Setting the right priorities is a very important process in order to get yourself to the top. If you spend on the things that you don’t need at all you can be sure that it won’t let you to buy the stuff you actually need. Try to think first before regreting it. You do need a lot less things than you actually think.
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
Understanding the principle of time coumpouding is crucial to investing your time and resources. If you don’t understand what it takes then try to learn it before investing anything. If you are not patient enough you better not start at all and prepare yourself for a long journey. Always remember that the Rome wasn’t built in a day and so the success works.
“The difference between successful people and really successful people is that really successful people say no to almost everything.”
If you want to be geuinely successfull whether it means to become wealthy or just extremely happy, you need to understand the value of saying no to the people or activities. Being ascetic from time to time is extremely beneficial to your wellbeing. You should develop a minimalistic mindset in terms of the things you actually need to posses and the activities you actually need to do. Don’t ever try to do anything you can. Instead, do what you have to do.
“The most important investment you can make is in yourself. The more you learn, the more you earn.”
This is huge! I cannot even stress out the importance of that. The point of the whole education is that if you are not willing to learn, you will not learn anything at all. The easiest investment is to you as well. The best thing you can do is to invest your time, energy and resources into your own growth. If you want to help the others, be loved and feel satisfied, you have to begin with yourself first. Every time you want to change something, try changing yourself and don’t ever complain. There is always some way to respond better.
“If you don’t find the way to make money while you sleep, you will work until you die.”
The power of passive income is massive! If you don’t try to find another alternative ways of generating some additional income than from your job, you may never become truly rich. It’s all about the right investing what you have and not just letting your money being cut by inflation. You need to invest your seeds to grow your tree of wealth right now.
“Be fearful when others are greedy and be greedy when others are fearful.”
Do not ever follow the others just because everyone does it. Try to adapt the principles of critical thinking. If you are sceptical about the information you will definitely be able to decipher way better the truth from the lie and so on. Just try to develop a minority mindset rather than to follow the majority and wait for miracle. Be proactive and don’t let the mainstream make you broke. If there’s something popular, then it’s supposed to attract the average, because the mediocre ones represent the biggest social layer.
If you’re intrested in one of the books on investing recommended by Warren Buffet himself, these should be the first ones you take a look at! You only need to click on the pictures to begin!
Which quote is your favourite one? Did we miss any? Feel free to let us know in the comment section below!
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