Good Lifestyle

When it comes to money, we tend to think that you must be a genius to accumulate massive amounts of wealth.

Cornin a new interview With the editor of Yahoo Finance,Andy Serwer, Legendary investor and billionaireWarren Buffett says that you should not be particularly intelligent to become rich. You just have to start sparing early.

When asked if, Millennials who are struggling with high rents and student debt, should start investing early, buffet replied:

"I think it's a very good habit of developing early. I think the habits you develop are terribly important. They can be more important than IQ or something. I am a nickel a week allowance when I started. I did not save anything about this nickel, but I do not do a lot of jobs. I started sparing very early. I started saving the cokes I bought six for a quarter ... I did all kinds of things to save money, that's how I arrived my $ 114 as well as the time I was 11 years old I liked to save. I loved investing. I wanted to have something to invest. I continued to read about these guys in the public library and I wanted to be in the game myself ".

Buffet added that cultivating good habits like saying "Please" and "Thank you" or save at least 10 percent of each paycheck-is the key to financial success.

For what is worth it, Buffettdoes not practice what he preaches. The rest of the age of 87, lives in the same five relatively modest beds, the two and half bath house he bought for only $ 31500 in 1958 (about $ 250,000 in today's dollars). Thus, even with a net worth of $ 82.9 billion, the man is still alive (reasonably) frugally.

Buffett's reviews could argue that he has grown in a very different period of time, and often say that millennials that the financial advice they receive from their parents does not apply to the economic reality they live today. . Others argue that the fact that 66 percent of the Millennium Children have absolutely spared nothing for retirement because they spend their money on frivolous pleasures like the toast lawyer, instead of thinking about the future. On the basis of his answer, it seems that Buffett is in this last camp of thought.

"It's no harder to save now that there are or seventy-five years ago," he said. "It's more difficult not to succeed today than twenty or thirty or fifty years ago. »

Buffett,which is often called "assistant" or "wise" for his prediction capacities, Gave an optimistic reading of the country's future.

"America you will see twenty years from now or fifty years is now going to be much more prosperous and the talent will always be rewarded, the work will be rewarded. We have a nice future. »

FORE More advice from the richest men in the world, readingHow 15 World Men Got That Richest WayAnd while you're there, learn the40 ways to stimulate your savings seriously after 40.

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