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  • Writer's pictureAbdulgafar Asimi

Warren Buffet's Advice For Young People Who Wants to Be Rich


The book was published on August 31, 2018.

Warren Buffet is one of the richest investor to ever live. He became a millionaire in 1960 at the age of 30 and ever since then, Buffet has been one of the richest people in the world.

Warren Buffet other the year has given various advice to young people about how they can be rich and successful.

In his book.. ' If you are normal, you can't be rich'  he gave 10 principal advice to follow life if one wants to be rich. They are summarised as follow:

Advice number 1: 

"I will tell you how to become rich. Close the doors, be fearful when other are greedy. Be greedy when others are fearful."

Most people are influenced by the social prove of which they are mostly proved wrong. 

Do the opposit of what people are doing. Most people invest in the Real Estate when its cracyly high . When that is the period that smart investors are selling. If yoy are normal you can't  succeed. So Don't be normal! Do the opposit of what people are doing.

Advice number 2. 

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

Only cracy dedication and unusual persistent to create wealth and success. Endour the tough times or you won't be able to go through the rough road that leads to success. Great things takes time. You can not produce a baby tomorrow by impregnating nine women today.

Advice number 3

"It is better to hang out with people better than you. Pick out associates whose behaviours is better than yours and you drift in that direction."

Most people are not conscious of whom they hang out with. Do a little exercise; list the top five people you spend most of your time with. Close your eyes and imaging where these people are likely to be in the next five years. And that's is exerctly where you are going to...smiles

It is simple, if your friends and associates are not ambitious or positive about life, you can't be. If your friends do not know more than you, you can never grow. 

Cut yourself from negative and unwanted people and become a better person. Chose your friends very carefully because you can't be better than who you associate with.

Advice number 4

" You won't keep control of your time unless you say NO, you can't Let other people swtbyout agenda in life."

Look around you, there are lots of distractions, social media, TV, movies, parties and these are interested stuffs that brings no value to who we are.

The more NO we say to distractions, the more time we have to be productive to things that rely maters.

Advice number 5

"You don't have to be smatter than the rest. You have to be more disciplined than the rest."

Forget everything you have being told about talent and IQ. 100s of people with 200 IQ scores are broke. Discipline, dedication, practice and persistence are what you need to be successful.

Advice number 6.

"Risk comes from not knowing what you are doing."

More than 90% of people trying to start their own business  or new job will never take time to read 10 books about business not to talk of 100 books. Yet we all believe that business and investment are risky. Whybwont they?

The real risk is your ignorance, the more you know about your field  the less risky it becomes. Seek knowledge!

Advice number 7

" The chains of habit are too light to be felt until they are heavy to be broken"

The best thing you can do with your life is to avoid bad habit all together.

Advice number 8.

"Enjoy your work and work for whom you admire"

85% of people all over the world hate their jobs. Since you are going to use 50% of your entire life working and planning, you better do all what you can, to do what you enjoy.

Create for yourself the kind of job or business you enjoy

Advice number 9

"You can't buy what is popular and do well"

Whenever anything becomes popular, the game is over, be it a business idea or an investment opportunity. When you read about it in the news , its late to call it an opportunity. Don't buy the noise , the real thing is in the secrete.

How do you get the hidden things no one is seeing? Read books no one is reading. Search for knowledge when other search for entertainment. If you know things other people don't know, you will see the opportunities people don't see.

Advice number 10

"Never invest in a business you do not understand"

Don't be a generosity, be a specialist. Choose one of few field you are interested in. Study everything to know what nobody know about that field .

If you can't take time to study any business, don't ever invest in it, because everyone is doing so. Send your money to only where your knowledge lies.

Summary 


If you want to be rich, do the opposit of what everyone else is doing. 


Say No to unproductive activities


Avoid bad habit


Select your friends carefully 


Be disciplined and patient because it take time achieve anything worthwhile.

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