Wisdoms of Warren Buffet

      Well who haven’t heard the name. A great billionaire of America.
Wikipedia describes him as
Warren Edward Buffett ,born in August 30, 1930, is an American business magnate,investor and philanthropist. He is the most successful investor of the 20th century. Buffett is the chairman, CEO and largest shareholder of Berkshire Hathaway, and consistently ranked among the world’s wealthiest people. He was ranked as the world’s wealthiest person in 2008 and as the third wealthiest in 2015. In 2012 Time named Buffett one of the world’s most influential people.”
        I too have heard the name. Thought he was another billionaire of America. But this WhatsApp message created a respect in my heart for him and his philosophy

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Sayings of Warren Buffet
On earnings : Never depend on a single income . Make investment to create a second source.
     Even if you save much and put out in a bank, you cannot besolution  protection of your hard earned money. The world is dynamic in nature. How can be so sure the bank will remain in future as well. The solution is create a second source. And what is better then investment. Invest in real state, jewellery, bonds, stocks etc. That is the mantra of Warren Buffet also.

On Spending: “If you buy things you do not need, soon you will have to sell things you need
  Said very nicely. The aim should be spending for living and not other way rthingsDo a simple exercise. Think and make a list of things in your house today you not need. You will be surprised. Think hope much money you have wasted on this.
    It is not necessary that you have to own the latest phone or car etc. These are material things. You may want to purchase them now. But what about when you lose that momentary interest.
    Instead save money for times of need. Because at that time only this money will be your best friend. Not your car or phone
    

On Savings: “Do not save what is left after spending, but spend what is left after saving”.
        This must be strictly followed. First ensure the future, then, only you can enjoy the present worry free. Am average earning person should save atleast 50% of his income. Believe me that is only possible if you set aside that amount at the 1st of every month (the day you get paid). After that you will be surprised where your salary is gone.
       This practice is enough** to make you a billionaire before you retire. (Who won’t want that).

On Taking risk: “Never test the depth of the river with both feet”
    It is true that higher returns means higher risks. But it doesn’t mean that you should put all your money in most risky investment in greed of higher returns.
    Do not take just risk take ‘calculated risk’ . You must judge well the resource in which you are investing in. If you yourself cannot, consult a good financial advisor.
     But never go throwing your money anywhere meeting on your luck.
    Check with one feet first what is the depth on the risk.

On investment: “Do not put all eggs
in one basket”
       Imagine you have purchased 4 eggs. You put them in a basket which you trust can carry them. And the basket from your hand. All your 4 eggs will break
    But consider of you had put only 2 eggs in basket, 1 in your pocket and 1 in your other hand. Atleast 2 eggs will survive the accident and you have something for breakfast.
     The money follows the same rules. You need to diversify where you put your money. Never put your savings in just one type of investment. Use different resources (like save in bank, stocks, bonds, precious metals etc.). So that failure on one does not mean your savings resulting in null.

On Expectations: “Honesty is very
expensive gift. Do not expect it from
cheap people”
      Very important. With growth of human race, their greed, lust for power, selfishness have also grown.
     Never trust anyone with your savings. Honest people (in Hindi we will say like raja Harishchander) are more rare then diamonds on this planet at the present.
      If you are investing your hard earned money in something judge the resource yourself. Not trust just anyone.

    Wow! Now I feel like I can be the next Warren Buffet.
    He is a genius with great ideas.
He had earned billions of dollars with these ideas.
    Now you know them also. Decide yourself what you will do with them. Thanks for reading. Hope you like this article.
Gold luck for life

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