Principles on Wealth

Warren Buffets principles on Wealth.


Our happiness is diluted and our peace is threatened by the financial
illness that has infected our families, organisations 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. I invite you to tap into the financial
wisdom of our elders along with me, and become financially wiser.

• Hard work: All hard work brings 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.
• 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
• 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.
• Investment: Don't put all your eggs in one basket.

I'm certain that those who have already been practising these principles remain
financially healthy. I'm equally confident that those who resolve to start practising
these principles will quickly regain their financial health. Let us become wiser and
lead a happy, healthy,prosperous and peaceful life.

Warren Buffet