Warren Buffett's Advice For 2009

Warren Buffett is an American investor, businessman and philanthropist. He became one of the wealthiest people in the world by making predictions and putting money behind those predictions. Every time he buys a stock or a business or some other investment, he's forecasting the future. Here is the US investment guru’s advice for 2009:

“We begin this New Year with dampened enthusiasm and dented optimism. Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health. They expect the financial experts to provide them with remedies, forgetting the fact that it is these experts who created this financial mess.

Every new year, I adopt a couple of old maxims as my beacons to guide my future. This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older. This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.

* Hard work: All hard work bring a profit, but mere talk leads only to poverty.
* Laziness: A sleeping lobster is carried away by the water current.
* Earnings: Never depend on a single source of income. [At least make your Investments get you second earning]
* Spending: If you buy things you don't need, you'll soon sell things you need.
* Savings: Don't save what is left after spending; spend what is left after saving.
* Borrowings: The borrower becomes the lender's slave.
* Accounting: It's no use carrying an umbrella, if your shoes are leaking.
* Auditing: Beware of little expenses; A small leak can sink a large ship.
* Risk-taking: Never test the depth of the river with both feet. [Have an alternate plan ready]
* Investment: Don't put all your eggs in one basket.

I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health.

Let us become wiser and lead a happy, healthy, prosperous and peaceful life.”

Warren Buffett is a very generous man and has given away billions of dollars. His current net worth is over $60 billion. Isn’t it amazing?

Warren Buffett can teach us a lot about getting rich and staying rich! He is certainly worth studying. He keeps on analyzing, refusing to panic and ignoring the fears of the masses, continues making money. He is the best example of the metaphysics of money, that it is all about how we feel about money. If you fear poverty, you will create that. If you know you will be okay, you will be. It just goes to show that it is about your attitude. You do not need to be in fear. We can all be okay during these times if you can understand and accepts his 3 timeless predictions:

1. Recessions can’t be avoided forever.
2. We'll survive current and future recessions, just as we've survived past problems.
3. Recessions will create opportunities.

He said: “I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”

Enough said. If we want to learn how to be rich, let's listen to Warren Buffett. We can be the Warren Buffett(s) of the world!