There are a few key habits and mindset pieces that separate those who succeed from those who fail. I’m a big proponent of taking advice from those who have proven success, and that’s why I want to talk about Warren Buffett today.
On this episode of Investing in Real Estate, we’re looking at Warren Buffett’s three rules to success, and why they’re so powerful for real estate investors. You’ll learn about investing in yourself, setting personalized goals, and the best way to measure your success.
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Invest in yourself. Buffet said, “By far the best investment you can make is in yourself.” This means never stop learning, never stop growing. This is a step you can take no matter where you are on your investing journey, and no matter how much money you have. Buffett says that one of the keys to success is to go to bed a little smarter every day.
Measure your success by your own inner score card. Buffett’s concept of the inner score card is something he learned from his father. This means aligning your actions and goals with your values and beliefs, not someone else’s. A couple weeks ago when we talked about setting goals, we talked about the importance of creating goals that are customized for you—because if you’re measuring your success by someone else’s ruler, you’ll never be satisfied. This is why my Freedom Cheat Sheet is so powerful, it allows you to create an end point that is based on your personal expenses, goals, and aspirations. There is no point in setting arbitrary goals or chasing success without an end point in mind. I love this concept of the inner score card because it means being authentic and aligning your goals with your why.
Your life’s success should be measured by love. At the end of the day, what’s really important are the people in your life. Building wealth is important, but the biggest legacy you can leave behind is the values and love you instill in the people around you, whether that’s your children, friends, or other family members.
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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