Warren Buffett Says This Sets Really Successful People Apart

Warren Buffett's closing.

Image source: The Motley Fool

Should You Heed This Warren Buffett Advice?


Important point

  • Warren Buffett is one of the best investors of all time.
  • He believes that highly successful people distinguish themselves by saying no to everything (like a hot new investment) and staying within their circle of expertise.

If you hope to succeed professionally or financially, it can help to heed the advice of others who have achieved that dream.

Warren Buffett is one of those people whose advice you might want to listen to. The billionaire is one of the greatest investors of all time, and has managed to build a huge business empire that has given him untold wealth.

Buffett gave a simple explanation of what distinguishes “real” successful people from others, and this advice is especially worth considering when choosing your own life.

Could this be the key to true success?

So, what does Buffett think makes successful people different from others?

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“The difference between successful people and really successful people is that really successful people say no to everything,” Buffett said.

Buffett laid out this strategy himself, choosing certain hot investment types even as others jumped. An example is cryptocurrency, in which the famous investor has shown that he is not interested in investing, although more and more Americans have adopted this asset class.

Buffett was also slow to jump into tech stocks in the early 1990s and 2000s, but years later he said he had no regrets about staying out even when there were unexpected opportunities.

“I don’t worry about the things I’m missing that are outside the circle of my ability to estimate,” Buffett said. “It’s not a mistake because I miss Netscape or anything like that.”

Should you take this advice?

Buffett’s advice can help you as you make decisions about what to do with the money in your brokerage account. There are tons of people out there who will try to convince you to invest in something either because they get a fee or commission for doing it, or because they really believe the action is right (although they don’t have to be). he even knows it.FINE for you).

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You don’t have to jump at many or most of these ideas, but you should develop your own solid investment plan and stick to it while saying no to anything outside of your comfort zone.

But, Buffett’s advice can go far beyond saying no to investments that don’t fit your well-planned plans. This can also apply to other financial and life decisions you make. For example, you don’t want to commit too much to activities you don’t like, and you don’t want to say yes to spending money on things you don’t value just to keep up with the Joneses or because you feel like it. normal things are done.

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If you define how you want to view your personal and financial life, you can set clear boundaries and say no to anything that doesn’t align with them. It may feel uncomfortable to not do what other people say or ask of you, but you are in the best position to stand for the future you want. You should not say yes to anything that might lead you off that path.

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