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There is no easy template to follow. If there were, so many people would be following it that the wealth would be diluted down to nothing. However, if you'd like to lose whatever money you've got right now, there are wealth gurus who will take all your money in exchange for teaching you the "secrets" of wealth accumulation.
In order to be successful, you need knowledge. That knowledge is available to anyone who desires to learn it. The easiest way to accumulate that knowledge is at a highly rated college. Study business, economics, and accounting. Some computer classes wouldn't hurt. Maybe a useful foreign language like Chinese or Vietnamese.
Actually there is a secret that I am willing to share with you. A very wealthy cousin of mine told me he tried to figure out why some people were wealthy and some trudging along working for salaries. His conclusion was that the facts are exactly the same for everyone. It is what you make of the facts that determine your lot in life.
So there you go: information is readily available and it is available to anyone who makes the effort to learn it. Then whether or not you are a success depends upon how clever you are in using that information. Also, probably a lot depends upon how much effort you are willing to put into it. (and sorry, but I don't know any fast and easy ways to teach you how to be clever or industrious)
You should learn how to spell Mr. Buffett's name. Otherwise, I agree with everything in your post.
Buffett purchased entire companies and what he bought was safe and virtually guaranteed to continue to be successful. Look at what he owns. Products that the public has a long history of loving.
As a private investor just starting out, it is going to be difficult for you to purchase entire companies, especially major, well established companies. So following Warren Buffett's path to success is going to be a tough program for you.
You can improve your quality of life by living at home to cut down on expenses.
Huh??
Adult children living in their parents houses may save money but I would not consider that to be an improvement in quality of life. Adults with ambition, self confidence and drive are not likely to be living with their parents. In this regard, Warren Buffett set an example. He left home to go to college at age 16.
Huh??
Adult children living in their parents houses may save money but I would not consider that to be an improvement in quality of life. Adults with ambition, self confidence and drive are not likely to be living with their parents. In this regard, Warren Buffett set an example. He left home to go to college at age 16.
Moving out is a racket. Why pay rent? Nothing comes from paying rent. It would be the same as throwing your money in a fire. If you buy your own house or multi-family property however...
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