Warren Buffet, the billionaire investor known as the “Oracle of Omaha,” knows a lot about building wealth. He’s not into get-rich-quick schemes, though — he’s more into down-to-earth wisdom and advice.
Develop a Smart Spending Foundation Buffett says that before you do anything else, you’ve got to get your spending under control.
For example, despite being one of the richest people on Earth, Buffett still lives in the same modest house he bought almost 70 years ago. Why? Because he knows the value of a dollar.
Make Your Money Work for You Once you have your spending under control, it’s time to put your money to work!
Buffett says you don’t need to be a genius to invest. You just need to be smart about it. Don’t let your savings sit idle. If you do, inflation will make sure it’s worth way less when it’s time to retire.
Have a Good Circle He thinks you should surround yourself with people who are better than you. Take his partnership with Charlie Munger, for example
Invest in Yourself Here’s where Buffett drops some real wisdom: “By far the best investment you can make is in yourself.”
Think Value & Think Long-Term Last but definitely not least, Buffett’s all about value investing. Find undervalued companies, invest in them, and wait.