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Strategy 5 habits you should pick from American billionaire, Warren Buffet

Buffet personally welcomes visiting business guests himself and often takes them to McDonalds for a meal, where his daily breakfast only costs between $2 -$3.

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  • Warren Buffet has continued to share tips of how to become great using his own success story.

  • Arguably the world's greatest investor with an estimated worth of $95.1 billion, Buffet ensures he sleeps at least eight hours daily.


Warren Buffet, the billion-dollar Chairman and CEO of Berkshire Hathaway Inc., has shared tips of his success story to encourage and inspire youths all over the world.

And if you are aiming at charting that same cause, you might want to pick up some of the habits that one of the world’s most successful investors indulge in.

Rated as the third richest billionaire in the world, here are a few habits that are not only important to Buffet but describes what an average day look like this World billionaire:

1. Stay humble

Many of the successful individuals around the world have come to agree that humility is one of the keys to success. Perhaps this is a more important lesson that has so much to do with Buffett’s personality and being and less of his investments or ability to invest wisely.

Buffet has remained humble, approachable and respected despite his amazing success and immense wealth that is valued at over $84 billion.

Do you know that Buffet has no office on Wall street or any of the world's financial centres, yet he's net worth, according to Forbes billionaires list of 2018, is $84 billion.

This man of simple ways lives in the same modest house he bought over 40 years ago and works at the same office he bought around that time, in Omaha, Nebraska.

His 'prized' automobile is valued at $30,000 and interestingly, he personally welcomes visiting business guests himself and often takes them to McDonalds for a meal, where his daily breakfast only costs him roughly between $2 -$3.

According to a report by CNBC, Buffet once bought his friend Bill Gates a meal at the fast food giant using coupons.

warren buffett coke play Warren Buffet (Business Insider)

 

2. Pay attention to your health

Buffet is of the belief that the mind and body have got just one opportunity to be treated right and if anyone values his/her existence like a prized car, the body should be better taken care of.

The 87-year-old serial investor exercises every day after his doctor informed him a decade ago that he needed to either change his diet or start to exercise.

Buffett once gave an analogy to a group of school students on the need to take good care of one's body saying, “Imagine you’re going to be given a new car. Any car that you want is yours. It will be at the front of your house with a bow on it when you get home. There’s one catch. That’s the only car you’re ever going to have in your life. So, you better take care of it. Exactly the same goes for your mind and body."

Meaning if you only had one car for the rest of your life, you would have to just take care of it. So why not do the same with your mind and body by exercising and giving needed attention to your health.

ALSO READ: Warren Buffett's eating habits can teach you a lot about his investing strategy

3. Read to learn, to be informed and improve on your abilities or capabilities

In the inspiring HBO documentary chronicling the life and philanthropy of the billionaire tagged Becoming Warren Buffett, this 87-year-old investor gets up in the morning by 6.45 am and reads at least half a dozen newspapers.

Buffett was once asked how to get smarter and his response was considered epic. He held up a stack of papers and said, “Read five hundred pages like this every day. That’s how knowledge builds up, like compound interest.

The serial investor will read financial statements, newspapers, journals and reports at the office, and switches to books and more papers in the evening. In total Buffet spends about 80 percent of his day reading.

Three books, according to Buffett shaped his investment philosophy, hence you can find them and read them too. The books are : The Wealth of Nations, by Adam Smith, and Security Analysis and The Intelligent Investor, both by Benjamin Graham.

play Bill Gates and Warren Buffett (Forbes)

 

4. Always be in control of your time

If more than three billionaires insist on a particular key to success, then that should be a habit to be picked up without hesitation.

As wealthy as Bill Gates - standing on number 2 in the Forbes list of world billionaires with an estimated $90 billion to his name - he once acknowledged that being jealously protective of his time was an important lesson he'd learned from Buffett.

"There are only twenty-four hours in everyone's day. Warren has a keen sense of this. He doesn't let his calendar get filled up with useless meetings," Gates once disclosed.

Confirming Gate's words, Buffett, in an interview with Levo League, said: “Keep control of your time. You won’t keep control of your time unless you can say no — you can’t let other people set your agenda in life.”

Are you still the one who doesn't value your time? Do you appear late at work or even business meetings? Are you the type, who feels coming a little late helps the admiration you get when you enter your appointment venue? You should have a rethink and understand that your time isn't just the most valuable resource but must be guarded carefully and know exactly when to say no.

5. Sleep well

A bad sleeper might get so much knocks for sleeping for the better part of the needed time to create wealth and be successful but even at that you need all the rest you can get.

For Buffett, it's better to be in the bed early enough to grab some shut eye.

The billionaire likes to be in bed by 10:45 p.m. and gets an eight hours straight sleep.

He said: "I get quite a bit of sleep. I like to sleep. So, I will usually sleep eight hours a night."

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