Almost everyone who has ever managed to profit from his or her own money has the secrets of successful investing. But one successful transaction does not make a person a successful investor.
It is much more interesting when reputable and well-respected people share their experience, who have “made” their fortune not through one-time investments, but through a well-thought-out investment strategy.
These are the most important investment rules of millionaire investors, which are the quintessence of years of financial experience
Warren Buffett: “Invest today for more money tomorrow”
There is no need to introduce this man: he is one of the greatest investors of our time and one of the richest men in the world. His fortune is estimated at $66 billion, and he made most of it on the stock exchange by investing in stocks. After retiring from business, Buffett began writing books in which he enjoys sharing his experiences. He has many secrets, but the most important are 3 major rules of investment by millionaire investors.
- Buy shares of companies whose products you like. This is the only way to assess the quality of your company’s products, and therefore you have an objective opinion about the future prospects of the business.
- Invest in international companies with a network of offices around the world. This will greatly reduce regional and industry risks and make the results of your investment more stable.
- Use good judgement. Only investment decisions based on careful market research, analysis of market trends and planning your actions have a chance of success. Chaotic and ill-considered investments are often doomed to failure.
Donald John Trump: “Stick with the winners”
This billionaire, known for his eccentricity, was able to earn over $3 billion from real estate transactions. In his book, the tycoon gives some useful advice to those who are determined to become rich. Here are the most famous of his rules of investment of millionaire investors, which helped to become successful for a number of famous businessmen.
- Become a financial advisor for yourself. Hired advisers often lead their clients to ruin, so they should be avoided. If you do take advice from an outside financier, always check their advice against your own judgement. Don’t forget to read respected financial publications on a regular basis. You’re sure to learn something useful from them, get a feel for what’s going on in the market, and know which advisors are best.
- Follow your own instincts as investing is a very individual process. You may have several academic degrees, but none of them can replace the inner voice that tells you whether to make that deal or enter into a business relationship with certain people.
- Remain optimistic, but always be prepared for failure. Being able to expect and anticipate problems will save you from an unwise waste of energy, unpleasant surprises and will definitely help you get through tough times.
John Rockefeller “Work only for yourself”.
The name of this American entrepreneur, the richest man in the world, has long been a symbol of wealth. His books on how to achieve success have amassed hundreds of millions of copies. There’s nothing unusual in them, but not everyone can follow the advice they give. Here are some of the brightest investment rules of a millionaire investor proven by thousands of wealthy individuals.
The road to real wealth is only through passive income. It is the only way to consistently make real money and live at your own pleasure. The more sources of passive income you create, the stronger your financial situation will be.
Communicate more. Real money will come to you through your participation in other people’s businesses. You will also learn a lot of useful information that you can use to make a profit. Remember that uncommunicative people rarely become rich.
Take responsibility for everything that happens in your life. You create your own way of life and shape your environment (rich or poor). Never make excuses to yourself why you can’t get started on your goal right now. Just get to work.
Of course, the list of smart investing rules is not limited to these tips.
For example, Oleg Zhelezko, the manager of Da Vinci Capital, believes he got his success by going against the market, and Ilya Scherbovich, president of United Capital Partners, links his success with buying cheap assets and waiting for them to appreciate. The main thing is that among the investment rules of millionaire investors there is not a single one that cannot be fulfilled, and each of them really works.