Warren Buffett is one of the world’s most famous billionaires, but he didn’t stumble into that position by luck or chance (well, not entirely). Buffett is regarded as one of the smartest investors of all time, so it’s no wonder we tend to pay attention when he dispenses advice. Of course, most of us will never become billionaires, but applying these lessons to our own lives can certainly help us reach our full potential.
“Someone’s sitting in the shade today because someone planted a tree a long time ago.”
When it comes to financial planning, look at the long term. Trying to get rich overnight will often backfire, but planting healthy seeds today can help you “sit in the shade” in years to come. Plan early, and meet with us regularly, to build a secure retirement.
“Price is what you pay; value is what you get.”
Only purchase something if you believe the price is less than the value you will receive. You can apply this lesson to investing, of course, but also to everyday purchases.
“Cash… is to a business as oxygen is to an individual; never thought about when it is present, the only thing in mind when it is absent.”
Buffett’s company, Berkshire Hathaway, is revered for its ability to not only survive recessions and market crashes, but to actually come out of them stronger than before the event. Buffett accomplishes these feats because he understands the value of an emergency fund. Make sure you have access to liquid assets in case of an emergency. This will prevent the needs for desperate, high-interest loans, and gives you the resources you need to survive rough times.
“Risk comes from not knowing what you’re doing.”
Buffett believes that building your own knowledge is the best investment you can make. Those who are educated on a particular topic will be better equipped to make wise decisions and financial planning is all about making consistent, well-informed decisions! Schedule regular appointments with us to stay on top of your retirement plan, and together we can make the decisions that help you build a secure future.