New year, 2024, is already here with us, and people are working hard to achieve their set goals. Investing is undoubtedly one of the top plans many people are looking to achieve.
Here are some quotes that will guide your journey
Never depend on a single income. Make an investment to create a second source- Warren Buffet
Irrespective of the position you hold or how much you are earning, it’s always good to have another source of income.
This income can come from various investment vehicles, such as stocks, bonds, real estate, or businesses.
Having multiple sources of income not only helps you build wealth but also grants you financial security in case one sector is affected by economic downturns, personal emergencies, or job loss.
We don’t have to be smarter than the rest. We have to be more disciplined than the rest- Warren Buffet
This highlights the importance of persistence. Warren Buffet believes one can master any skill by practicing it regularly, and therefore making regular investments is more important than investing all at once.
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Investing regularly in an asset will reduce the average cost and help in accumulating more units.
Never invest in a business you cannot understand- Warren Buffet
According to Buffett, risk comes from not knowing what you are doing. His advice is to only put your money into things you fully understand and can explain.
If you study an investment but still don’t understand how it works or what it’s supposed to do, don’t soak your money in it; walk away.
Your mindset matters. It affects everything- Peter Diamandis
This highlights the importance of positivity. From the business and investment decisions you make, Peter advises one to believe they will make it no matter the challenges.
Someone is sitting in the shade of a tree today because someone planted a tree a long time ago –Warren Buffet.
In this quote, Buffet emphasizes the need for patience. Once you invest in the right business, be patient enough to let it grow. Â Also, long-term investing will help you reap significant benefits.