Warren Buffett’s 10 Ways to Get Rich

Reprin­ted from Parade Magazine: War­ren Buf­fett’s ’10 Ways to Get Rich’, writ­ten by Alice Schroeder; the author of Buf­fett’s author­ised bio­graphy, The Snow­ball.

  1. Rein­vest Your Profits
  2. Be Will­ing To Be Dif­fer­ent
  3. Nev­er ‘Suck Your Thumb’
  4. Spell Out The Deal Before You Start
  5. Watch Small Expenses
  6. Lim­it What You Bor­row
  7. Be Per­sist­ent
  8. Know When To Quit
  9. Assess The Risk
  10. Know What Suc­cess Really Means

This from No. 10:

Des­pite his wealth, War­ren Buf­fett does not meas­ure suc­cess by dol­lars. In 2006, he pledged to give away almost his entire for­tune to char­it­ies, primar­ily the Bill and Melinda Gates Found­a­tion. He’s adam­ant about not fund­ing monu­ments to him­self – no War­ren Buf­fett build­ings or halls. “I know people who have a lot of money,” he says, “and they get testi­mo­ni­al din­ners and hos­pit­al wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you’ll meas­ure your suc­cess in life by how many of the people you want to have love you actu­ally do love you. That’s the ulti­mate test of how you’ve lived your life.”