10 golden rules of being rich скачать в хорошем качестве

10 golden rules of being rich

Warren Buffett is the richest man in the world with over $75 million wealth. When he started buying shares in Berkshire Hathaway in 1962, a fund was worth $7.50. Warren Buffett, 78, is now chairman and CEO of Berkshire, with over 250,000 shares in the company. She explains her success with a few key strategies she shares with author Alice Shoeder ("Snowball" / "Snowball"). These are the following: 1. Reinvest with your proceeds. When you earn money from the stock market, you may want to spend it. Instead, reinvest with your proceeds. Warren Buffett learned this at a young age. In middle school, he and a friend had bought a pinball machine to put in a barber shop. Later, thanks to their income, they bought eight more machines to put in different stores. After these two friends sold the devices, Buffett started a small business with the money he earned. But by the time he was 26, he now had a net worth of $1.4 million. As you can see, even small amounts can turn into wealth. 2. Be enthusiastic about being different. Don't make decisions based on what other people say or do. When Warren Buffett began managing the money in 1956, he raised $100,000 from friends and relatives. He started his business in Omaha, not Wall Street. Buffett did not tell his family and friends what his job was. They thought he would fail. However, Buffett made $100 million when he sold his first company. According to Buffett, most people's investment-related activities are nearly identical. But in fact, it is not necessary to follow the majority. 3. Make quick decisions and don't waste your time. Gather all the information you need to make a decision, and if there is no further information available on this topic, make a decision soon. Warren Buffett prides himself on his ability to make quick decisions and get up and running quickly. He thinks that unnecessary / long decision making process means losing many opportunities. 4. Clarify the contract before starting any work. You have more bargaining opportunities before starting any activity. That's why you have to offer what the other party wants. Buffett learned this at a young age, too. Buffett's grandfather, Ernest, hired him and his friend to clean up the shop under the snow avalanche. However, after 5 hours of grueling and freezing work, he only gave them 90 cents. Horrified by this deal, Buffett understood that the terms of any deal must be made clear in advance. This does not depend on whether the other person is a stranger or your family member. 5. Track your small expenses. Warren Buffett often invests in companies that focus on small expenses. Being prudent in every expense closely affects your profit and monthly performance. 6. Limit your debts. Living on credit cards and debt won't make you rich. Warren Buffett has never borrowed a large amount of money for an investment or a home loan. He received countless distressing letters from many who thought debt was manageable but were overwhelmed with debt. Buffett suggests meeting with debt holders to pay your mandatory payments. When you're not in debt, set aside some money from your investment. 7. Insist. With hard work and skill, you can defeat even your strongest opponents. For example, Buffett bought the Nebraska Furniture Store in 1983 because he liked the business model. Owner Rose Blumkin had made the store the most powerful and largest furniture store in North America. His basic strategy was to increase market share by making product sales cheaper. According to Warren Buffett, Rose showed courage by choosing to be a winner rather than a victim. 8. Know when to leave. Warren Buffett went to see a racing car once when he was younger. He bet on a race and lost. He then bet again to win the money he lost, but this time he lost. After returning home, he found his weekly earnings lost and never participated in such games again. When you experience a loss, know when to get away from that job and don't repeat your mistake. 9. Measure risk. In 1995, Warren Buffett's son, Howie, was accused by the FBI of fixing stock prices. Buffett asked his son to think about the best and worst things that could happen if he continued working for the company. His son realized that staying with the company would hurt him more and resigned from his job the next day. Ask yourself, "And then?" ask the question. This will assist you in the decision-making process and guide you to the right choices.