you want to be rich?? the Warren Buffet tips...

Do you all want to be rich?? Did you ever dream of to be rich or to be a millionaire?? So for this time I am goint to share with some tips on how can you be rich. Tips from non other well known millionaire and the brilliant investor that is Warren Buffet.

 We all know who is Warren Buffet right? But, for those who are still blur and do not have any idea about who is this Warren Buffet, well he is a brilliant investor and he has been invest in many sectors and so far, he's doing good. Warren Buffet has becoming an entrepreneur since he was child when he was first selling his Juicy fruit at 1930s. 

As he said, through all this years he always remember all these things :

1) Reinvest what you gain

It is does not count how small or how big your gain or profit that you obtain, reinvest it rather than use it for something else unless for any emergency but if you can avoid from using it. that is better. Reinvest your cash can can make your cash compound for many times when gain more profit.

2) Dare to be different

Don't just make decision because of your thought, encouragement or because of some one else or follow the trend just because people done it. Be rational. Think about your own self first before think about others.

3) Don't just sit and do nothing

What does he means is that don't just think to be rich, but you have to act and do something, work on in order to be rich. Sit and think won't take you anywhere. Do research and don't be lazy to do homework on any investment or business that you want to get involve with.

4) Master on your investment

Make sure that you know what have being done with your money and where it is being invested in, Do not just simply invest into something that can not make profit. Invest in something that stable and have a bright and long lasting investment in the future because if your investment just for a short period, that it is just a waste because you will loose the compounding effect.

5) Beware of your expenses

Take care of your expenses because this might be effect your investment in term of backup cash for your own. You msut have backup cash for emergency or for rolling your capital.

6) Limit your loan

try to limit your loan in order to make investment. It is meaningless if you make a huge loan and invest because even you gain the profit or dividend through your investment but you still have to pay for your loan. Try to minimize your loan and make sure it is a good debt and not a bad debt.

7) Know when to stop

People always make mistake and greed is always take control of our self. Control your emotion when investing. Bad history should been make as an example for future investment strategy.

8) Money is not everything

You must know one thing that money is not everything. Even though that we need it, but money is not everything that we need in this world. For him, time is the best asset that human ever have. From time you start to buy everything in your life.

There are no short cut in life to be rich and successful. Its take time and efforts. We need to try harder and harder and NEVER GIVE UP ON ANYTHING!!! That is the most important thing that we need to have in our self.

Follow me on next article, WHAT IS THE LIFE OF A MILLIONAIRE.