Warren Buffett is considered to be one of the greatest investors that has ever lived and is consistently ranked among the wealthiest people in the world with a net-worth north of $72 billion. He is well known for his commitment to value investing, and when he gives recommendations, people listen.
The other day I came across a quote from him where he was advising people to invest as much as possible in something that everyone has access to, something , he says, in which we can never invest too much.
What is this amazing asset he’s so bullish on?
“Invest in as much of yourself as you can, you are your own biggest asset by far.” — Warren Buffett
You will never get a better return on life than when you truly invest in yourself. Here are some ways to help you make the most of your investment.
Stay healthy on all three planes: mind, body, spirit.
“You only get one mind and one body. And it’s got to last a lifetime. Now, it’s very easy to let them ride for many years. But if you don’t take care of that mind and that body, they’ll be a wreck forty years later, just like the car would be.” — Warren Buffett
It all starts here. You need to be firing on all cylinders, or else you won’t be able to get the most of out your life.
This doesn’t have to be difficult or time consuming. Just be mindful about improving yourself. Here are some simple ways to do it:
- Mind: read a book (even if it’s just one page a day), journal, come up with ideas.
- Body: exercise (even if it’s just for 7 minutes), eat good food, drink plenty of water, get a good night’s sleep.
- Spirit: pray (it doesn’t matter if you’re religious or not) or just says ‘thanks’, be kind to people, write a gratitude list.
Cultivate positive habits and stick to them with a daily routine.
How much better do you feel on the days that you do something good for yourself? Perhaps it’s the days that you exercise or maybe when you arereally focused at work. Your days just seem to go smoother, don’t they?
You can have that every day. It’s just a matter of deciding what you want to do and following through with it.
Start small. Decide on one positive habit that you can start doing today, and then do it. Then do it again tomorrow. Once you’ve mastered one habit, you can put that momentum toward building a way to have the best day ever (every single day).
Never stop learning.
One of the greatest secrets to Warren Buffett’s success is that he is continuously learning. Charlie Munger, the vice chairman of Buffett’s Berkshire Hathaway Corporation, once said this about his legendary colleague:
“Warren Buffett has become one hell of a lot better investor since the day I met him, and so have I. If we had been frozen at any given stage, with the knowledge we had, the record would have been much worse than it is. So the game is to keep learning, and I don’t think people are going to keep learning who don’t like the learning process.”
Most people think that real learning ends when school is over but they are selling themselves way short. Life should be about continuous learning, and there are many ways for you to do this:
- Attend conferences, seminars, and meet-ups.
- Take a free online course.
- Talk to people and ask them questions (listen more than you talk).
- Research something you are interested in.
Surround yourself with excellence.
“It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.” — Warren Buffett
Take a look at the people in your life right now and ask yourself these questions:
- Are they making you better or are they bringing you down?
- Are they mostly positive or are they typically quite negative?
- Do you feel better when you are around them or do you feel worse?
If someone is a negative influence on you, then you have to kick them to the curb (or severely limit your time spent with them). This can be very hard when it’s a family member or co-worker, but if you want to become the best version of you, you are going to have to take action.
Spend time getting to know yourself.
“I insist on a lot of time being spent, almost every day, to just sit and think. That is very uncommon in American business. I read and think. so I do more reading and thinking, and make less impulse decisions than most people in business. I do it because I like this kind of life.” — Warren Buffett
Your time is extremely valuable and precious. Spend some of it getting to know yourself better. These practices can help you find out who you truly are:
- Meditate (even if you think you can’t meditate).
- Do yoga.
- Write morning pages or journal.
- Find hobbies that you enjoy (and actually do them).
Do what you love to do.
“There comes a time when you ought to start doing what you want. Take a job that you love. You will jump out of bed in the morning. I think you are out of your mind if you keep taking jobs that you don’t like because you think it will look good on your resume. Isn’t that a little like saving up sex for your old age?” — Warren Buffett
You only have one life to live, why not live it to the fullest?
Invest as much as you can in yourself starting right now, and you will see returns beyond anything you could dream of.