American investor Warren Buffett, founder of the Berkshire Hathaway empire, which includes under its umbrella more than 60 companies, is one of the most famous global investors in the current era, with his huge investment experience that spans decades.
Warren Buffett is 91 years old, and his fortune exceeds 100 billion dollars, and he started building it at a very young age when he was 11 years old, when he bought his first stock in his life, then applied to pay taxes at the age of 13.
Buffett's fortune has doubled in just the past 15 months to $101.1 billion, despite the impact of the COVID-19 pandemic on most investments.
The class B share price of Berkshire Hathaway jumped 41.6 percent in one year to $278.1 and the Class A stock price also increased by more than 40 percent, reaching $418,800.
Buffett has a special style in his life and investments, which he adopted over many years, as he still lives in the same house in Omaha, Nebraska, which he bought for $ 31,500 in 1958.
The Ascent website published a report on Warren Buffett's 5 most important investment tips, and they came as follows:
Save before you spend
Saving money is your ticket to growing wealth.
Buffett is a firm believer in the power of investing, but in order to invest you must first put money aside.
And if you're spending all of your paycheck, you can't do that.
Always be prepared for the unexpected
You never know when an unplanned bill might land on your hands, and if you don't have the money to cover it, you may have to pile up debt and pay expensive interest.
For this reason, Buffett is a huge fan of emergency funds.
A good rule of thumb is to keep enough money in your savings account, to cover 3 to 6 months of basic living expenses.
Don't buy a stock that you won't want to own in the next 20 years
Buffett believes that you can make a lot of money by investing in the stock market, but it is important to take a long-term approach to buying stocks, the ideal holding period for any given stock is "forever".
But in general, it advocates buying stocks that you plan to hold for a very long time.
Invest in your success
Just as you can invest by buying the right stocks for your portfolio, investing in yourself can be your ticket to increasing your wealth.
Don't be afraid to go back to school for an advanced degree, attend an online course, or do whatever is necessary to set yourself on the path to career development.
Take advantage of a long-term mortgage
Buffett is a big fan of home mortgage financing for 30 years, especially when rates are low (which they are today).
When you take out a long-term loan, you buy yourself flexibility by not limiting yourself to the higher payments that come with a short-term loan.