Warren buffet investment tips. 7 rules of warren buffet to be rich in life.

 Warren buffet, one of the most richest person on the earth. Do you know the investing rules of warren buffet. Today we will discuss 7 rules and business ideas of warren buffet. Yes you need some luck to be rich but without any smart work you never going to be rich. 

• Follow your passion:- we always run after our monthly salary. We never think what is our passion. Suppose if you have lot of money after your retirement what will you want to do. Just think what drives you in your life. If you want to be rich just follow one rule, find your passion and work on yourself. Just think, billion of people are doing their 9-5 job and after finishing their job they waste their time on entertainment and they remain middle class in entire life. 
• Reading habit:- if you see the most successful people on the earth like warren buffet, bill gates, steve jobs, elon musk, CEO of giant companies then you will find one common thing that is reading habit. They read atleast 5 hours a day. And we think we will be successful one day without any knowledge. We do not have enough time to experience lot of things so we must learn from their mistakes. Studies prove that there is a huge difference of reading habit between successful and unsuccessful person.
• Wait for your right time:- Investing is like test match you have to wait for the perfect time. Time doesnot wait for any one . It rules on it own. So, in the same way investing is like a test match , you have to wait for your that perfect time when it rules. Fir example,  this year because of the Covid-19 pandemic the market crashed, the economy went down , this is the correct time for an investor to invest in the market.
• Waiting for your pitch:- during the conversation between bill gates and Warren buffet. Bill gates told Warren buffet that he should invest in tech companies. But warren buffet replied that If tech revolution comes and take place will people leave and stop having  chewing gum and Coca-Cola, so why will i leave chewing gum and coca cola and invest in some other tech company. So before starting your any business you must ask this question to yourself.
• Invest in yourself:- Vivek Bindra sir always say one line "invest in your brain gives you the highest gain"
• we always buy expensive cloths, gadgets but never invest in ourselves to increase our knowledge and skills. If you see successful persons they always read books to gain knowledge.
• Invest in productive asset:- if you are wasting your money on gadgets, car's EMI and you think that you are buying assets then this is your biggest misconception. Assets means which give you income like real estate, gold, equity etc. Invest your hard earn money on appreciating assets.
•  Circle of competence:- defining your circle of competence is one of the most important aspect of investing. Knowing your circle of competence is the best things you can ever do with your life. You do not have to be expert on everything. But knowing what you know and don't know is circle of competence, and you must stay inside of it is all important.

Tom Watson, who started IBM said I'm not genius, I'm smart on spots and I stay around the sports.

So these are the basic rules and investing principles of warren buffet.

If you are also looking forward for investing and are confused about it then these are the only basic rules which are followed and given by Warren buffet himself. Yes, you can say rules are made to be broken then for this you've to make your own rule which will help you to grow in investing sector . For more updates click this link http://mudrainvest.com