If you want to be rich like Warren Buffett, you don’t have to wait to get started. This is the advice shared by investors at Berkshire Hathaway’s Annual Shareholders’ Meeting in 1999. Asked how to make $ 30 billion, It was about the same as his net worth at the time.
Buffett, then 68 years old — that property was then Over $ 100 Billion — Compound interest is an investor’s best friend and said that building wealth through interest was compared to rolling a snowball on a hill.
“Get started early,” Buffett said. “I started making this little snowball on the top of a very long hill. The secret to making a very long hill is to start very young or live very old.”
Oracle of Omaha said he graduated from college in 1999 and would strategically choose where to put his money if he had an investment of $ 10,000. “Because I work for a small company, something is likely to be overlooked in that area, so I’ll probably focus on small businesses,” Buffett said. , Said to proceed from there.
Buffett explained that investors need to protect themselves and rely on their knowledge and intuition when looking for a promising company to invest in. “Very energetic” when they see something they consider to be a good opportunity.
“I can’t find people agreeing with you,” Buffett said of putting money into the investment. “You can’t look around to even know what you’re talking about.”
That said, Buffett is also a strong supporter of index funds, which keep all stocks in the index and automatically diversify.To build wealth, investors “consistently S & P 500 Low-cost index fund ” Buffett said in 2017. “Keep buying from thick to thin, especially thin.”
Still, Buffett said he didn’t have to aspire to make $ 30 billion, and recently his wealth has been “can not understand.. “
“Even after a medium level, money makes little difference,” he said. He said..
He continued: “May you do a very significant percentage of my net worth for the extra years of my life, or during those years. If you ask me to replace it, I’ll do it right away. “”
Advice from 1999 on how Warren Buffett invests $ 10,000
Source link Advice from 1999 on how Warren Buffett invests $ 10,000