“The most important investment that you can make is in yourself”
-Warren Buffet.
Today’s post is for the people who want to be successful and rich in their life. If you want to become something in your life, keep reading. If not, then it’s your wish...
Warren Buffett is considered to be one of the most successful investors in the world. He became a millionaire in 1960 at the age of 30. He is also a business tycoon, philanthropist, and also the Chairman and CEO of Berkshire Hathaway and has a net worth of over US $78.9 billion as of August 2020, making him the world’s fourth wealthiest person. Which makes him the perfect man to give advice to us about finance, inspiration, wisdom, and more.
Over the years, he has given so many great advice to people who want to be rich and successful. So, today in this post we will be discussing the 10 advice that he has given to teenagers which are also useful for others. I've been using these advice ever since I was 14 years old, and they are quite helpful. (not all but most of them)
And I also know some of you don’t want to know all the stuff mentioned above, so let’s get to the point ASAP.
So, here we go…
Be fearful when others are greedy. Be greedy when others are fearful.
The simple explanation for this would be, Be different. You heard it right, I mean read it right, you have to do what others aren’t doing. But why?
The main reason is other people aren’t thinking. Yes, that’s true. Most people find it hard to think and also use their brains. Most of the things they do are determined by social proof which usually makes their decisions wrong.
For example, most people buy the stocks when the prices are increasing, whereas the smart investors would be selling their stocks making them the most profits possible.
In simple words, if you're normal, you can’t succeed. So, find out what everyone is doing and do the opposite, don’t be a sheep and follow the flock.
No matter how great the talent or efforts, some things just take time.
The main reason why most of the people won’t be successful is they won’t wait.
There are sometimes when you have to be patient and understand that some things take time. You can’t go crazy and make crazy decisions to create wealth.
We have to patiently endure the tough times or else we won’t be able to travel through the rough roads which lead to success.
Great things take time. We can’t build a home in a day, no matter what the number of laborers are working, it’ll take time, right?
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.
The biggest problem with young people is, they hang out a lot. I’m not saying that hanging out is a problem, the problem is they are not conscious about who they are hanging out with.
Show me your friends and I will show you your future. There are so many quotes similar to this. Because this practically makes sense, if you hang out with gangsters you will end up becoming one.
If your friends are not ambitious about living a positive life or achieving great things in their lives, how could you? Even if you are, that won’t last for a long time.
You might have observed the toppers of your class will always be near teachers or with other toppers, ‘cause they want to learn more.
If your friends don’t know more than you, what can they teach you? You can never grow and become what you want.
I mostly spend my time reading or with my father, brother, and tutor, ‘cause they help me develop my knowledge.
So, what can you do? I prefer you better surround yourself with positive people or people with knowledge and stop being with negative people, if it’s not possible then don’t let the negative people influence you. Phycological, this will be hard, to not allow the negativity affect you, you must have strong self-esteem and confidence and most importantly a very-very positive mindset. Hardest thing ever. You decide what you should do.
You won't keep control of your time unless you can say ‘no’. You can’t let other people set your agenda in life.
We are all surrounded by distractions even if we don’t want to. Like Social media, TV, parties, movies, and more.
These things are very interesting but have very little to no value to who you are or can be. And along with this we also have so many people around us who just want to take advantage of us.
If they tell you something or work to do, you will do it. And that's the right thing to do but in a limit. You can’t be doing other people’s stuff all along your life. You have your own chaos to deal with, your own goals to achieve.
So, the earlier you learn to say no to these kind of people and distractions, the faster you can be successful in life and be more productive and achieve more things.
You don’t have to be smarter than the rest. You have to be more disciplined than the rest.
Knowledge and talent are of no use if you don't have discipline. Most of the people with 200 IQ scores are broke, and are unsuccessful just because they don’t have discipline.
Discipline is the fuel to success. You will end up nowhere in life without discipline.
Talents in this world are as common as table salt, everyone is talented but the people who have discipline, persistence, and determination and are willing to work hard can be successful and rich.
Risk comes from not knowing what you’re doing.
If you want to do anything, it will look risky if you don’t have enough knowledge. The more you know about the field that you want to step in, the less risky it looks to you.
Most people don't spend much time grabbing knowledge, they just want to start earning as soon as possible. If you don’t learn, you can’t earn.
Learning doesn’t mean just by reading books, there are so many sources to grab great knowledge. So, to reduce risk, seek more knowledge, keep on upgrading your knowledge.
The chains of habit are too light to be felt until they are too heavy to be broken.
Have you ever seen a drug addict and an alcoholic looking helpless and wishing to rescue himself from the addiction?
Experimenting with bad habits is like playing with fire because when your bad habits grow, you unknowingly become their slaves.
You need to keep an eye on your habits, whether it's good or bad. If it's bad you have to stop continuing it and replace it with a good one.
Enjoy your work and work for whom you admire.
Choose the job or career which you love to do, it may be hard but it’s important as you're going to spend more than 50% of your life doing it.
According to a Gallup Poll study, more than 85% of people in the entire world hate their jobs. So don’t think what your parents will say or your friends or teachers or neighbors or president or the aliens will think, just think about ‘will you enjoy doing that shit or not’ if yes then continue, if no just forget that and think of something else.
And please don’t think about the income first. It’s important but still don't do the job just to earn money.
You can’t buy what is popular and do well.
This is similar to the first one. If it’s popular, then the game is over. Be it an investment or a startup idea or a business strategy.
When you hear about it through news or social media, it’s already late to say it is an opportunity.
The biggest power move is leaving the rat race for your own path. So, don’t live by the noise. The real opportunity is in the secret. And to find this secret you need to read what others aren't and do what others aren’t to achieve what others aren’t.
If you know what others don’t, you’ll see opportunities long before they see them and achieve things before them.
Never invest in a business you can’t understand.
Try to be a specialist, not a generalist. It’s okay if you can’t do everything or the things that others are doing but you can’t understand it.
For example, everyone is investing in the stock market, it’s okay if you can’t understand it. Don’t invest in it just because everyone else is investing.
If you can't take the time to understand any business, just leave it. But don’t invest just because everyone else is.
Spend your money only where the knowledge lies. Like books or other online sources.
Summary or Conclusion:
To conclude everything,
if you want to be rich and successful, do the opposite of what everyone else is doing, stop following the sheep herd, don’t allow yourself to be a slave of mean people and social media, keep an eye on your habits and replace the bad ones with good ones, surround yourself with people more wiser or knowledgable than you, be disciplined and have patience ‘cause it will take time to achieve great things and anything worth it.
If you know any such advice, do let us know in the comment as sharing is caring.
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Eager to read what you have to tell me!