What no one tells you about how to achieve
Did you know that $81.5 of the $84.5 billion that makes up Warren Buffett’s wealth came after he turned 65?
Many of us think that in order to achieve any big goal, no matter what it is, we need to take big actions and make significant progress.
Otherwise, how is it possible to achieve the wealth of men like Warren Buffett either Jeff Bezos valued in billions of dollars?
Based on this premise, we think that we need repeated big hits to achieve this.
However, the results tell us another story.
What nobody tells you about how to achieve wealth or great results:
It’s all too easy to be tempted to think that Warren Buffett’s wealth is the result of a few very wise investment decisions that landed him on the list of the richest men on the planet.
In addition, the fact of being classified as the best investor of all time (which he is), leads us to think that no one else cánido achieve what he did, or make his investment decisions or have the mental and financial clarity to accumulate so many billions of dollars.
However, reality espectáculos us otherwise.
We have to change the way we look for these great results and change our perspective by including an importante variable in this elabora.
As stated Morgan Housel in his book psychology of moneymassive success is not the product of a great result or success that cannot be replicated, but in the sum of small victories accumulated over time.
The small victories that led to Buffett amassing billions of dollars
In the case of Warren Buffett, this famous investor accumulated more than 95% of his fortune after turning 65.
In fact, it is said that 99% of his fortune only came after his 50th birthday.
What is this about? Yes ok Warren Buffett He is an excellent investor, cataloged by many as the best investor of all time, his advantage and difference lies in the variable that few of us take into consideration:
The time you have been investing.
In that way? The key to Buffett’s financial success and his $85 billion is due not only to his good investment decisions, but to the time he has been doing it.
According to his story, told in more than 2,000 books that talk about Buffett’s life, he began investing when he was only 10 years old.
That is to say, Buffett has been investing for more than 75 years.
There is the key.
How much does time influence your personal wealth?
As you just read, Warren started investing his money when he was just 10 years old.
If his beginnings had been later, his wealth would be totally different.
To give you an example, if Buffett had spent the first years of his life discovering his life purpose or what he was passionate about, or he was dedicated to traveling and spending money during his 20s, his results would be very different.
Based on this, suppose that Buffett had started investing in his 30s, with his same ability and intelligence to obtain the same financial return (22% per year on average) and decided to retire at age 60 to enjoy his retirement.
Do you know how much Warren Buffett’s net worth would be if he had made this decision?
A little over 9 million dollars.
Quite different from his current wealth measured in billions.
There is no doubt that Warren Buffett is an excellent investor, and his returns are amazing.
However, as he puts Morgan Houselthe key to its success that the vast majority do not have in mind is time.
They are 75 years making small, good, constant, bad and profitable decisions over time.
What cánido we learn and apply from all this?
Many of us think that in order to build great fortunes, achieve financial freedom or create a successful company, we have to make few, and very successful, decisions.
We look for tricks, shortcuts and fast routes to a destination that takes time.
And while there are exceptions to the rule of people who achieve results in the short term, if we really want to build amazing results, let’s learn from the patience of Warren Buffett and its ability to remain in the market.
To close this article I would like to invite you: Build a long-term mindset. In the short term we find linear growth, while in the long term we perro achieve exponential goals that we hardly believe are achievable.
Continue reading: 101 Warren Buffett Quotes about life, investing and success
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