I received an e-mail newsletter from iBillionaire on “Six Life Lessons from Warren Buffett”. I would like to share it to remind us of the fundamentals in life and investing. Happy Labour Day!
Here are six lessons gleaned from Buffett quotes that are worth taking to heart:
1. Good Things Come to Those Who Wait
Someone’s sitting in the shade today because someone planted a tree a long time ago.
No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.
2. Good People are Important
You can’t make a good deal with a bad person.
Honesty is a very expensive gift, Don’t expect it from cheap people.
3. Take Care of Yourself
When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.
Money will not change how healthy you are or how many people love you.
4. Things Can Change Fast
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.
You only find out who is swimming naked when the tide goes out.
5. Sometimes, It’s Just Not That Complicated
You only have to do a very few things right in your life so long as you don’t do too many things wrong.
The most important thing to do if you find yourself in a hole is to stop digging.
6. You Can’t Take It With You
It’s nice to have a lot of money, but you know, you don’t want to keep it around forever. I prefer buying things. Otherwise, it’s a little like saving sex for your old age.
There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don’t like because you think it will look good on your resume.