From wall street to anywhere else in the world, we all know the name, Warren Buffett. He is without a doubt, one of the biggest and the greatest investors of all time. And he is currently 90 years old.
So how does this 90-year-old investor become one of the greatest investors of all time? Let us find the right out.
To everyone’s surprise. Warren Buffett was born in the starting days of the Great depression. And this raised his passion and interest in the field of investing in the early days. His father started his firm on stock brokerage during this depression. And this is where Warren Buffett got his early lesson on investments.
Warren Buffett started his financial journey at the early age of 11. At the age of 11, he already started investing in stocks. And at the time he was 12 years old, he was already running his own pinball machine business and was successfully filing taxes.
This is the time when he slowly began to understand the magic of compound interest. he believes that compound interest is without a doubt the eighth wonder of the world.
By the time he was 30 years old, he already had a net worth of 1,000,000 U.S. dollars. And from his journey to that 1 million to the almost 90 billion today, is the result of the financial base he made for himself at an early age.
Unlike regular teenagers who spend their time finding their passion, wasting money on exploration traveling, or other necessities, invested in stocks. And this is why his momentum towards his net worth is massively different than a regular person.
Warren Buffett understood that good investment are not always about getting the highest returns. He is the master in the art of patience. Instead of looking at the great returns, he looked at the long-term growth of the investment.
In addition to the long-term investment, keeping compound interest in mind, here are some of the other not what they habit that created such a huge net worth.
First of all, according to Make it he does not have any real interest in real estate. He lives in the same old house he bought back in 1958.
He only spent on a Sedan in 2014 because his daughter was embarrassed to be driving one.
Almost 90% of the fortune of Warren Buffett comes from his Berkshire holdings. In addition to that, he also has a massive number of personal stock holdings. He is the pioneer of modern-day investment who still loves eating McDonald’s for breakfast.
Instead of panicking like newbie investors when the shares take a hit, he was always in it for the long game. And this philosophy and years of experience in investing in the right business, made him reach such a huge net worth today.