Warren Buffett shares advice on becoming successful

Berkshire Hathaway CEO Warren Buffett sat down with Yahoo Finance Editor-In-Chief Andy Serwer to discuss key elements for success.

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[FelineAirstrip]

In my 50s, I'm focused on investments for retirement. I've heard of people generating substantial passive income, like someone who earned $650K in under a year on a podcast. What's the strategy for such returns?

[jameswood]

Successful investing/trading is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[RickWatson-xugw]

I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?

[chris-pjrk]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[johnlennon]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[allensagalla]

He didn't say it in the interview (maybe because it wasn't asked), "Don't save what is left after spending; spend what is left after saving" - another, "The more you learn, the more you'll earn" - thanks for uploading :-)

[rinnovatoin]

1.invest youself
2.take care of your body
3.have right heros

[DIY_]

'if you invest in yourself no one cam take it away from you.', so much wisdom between those ears.

[Dannyholt]

Munger and Buffett have both achieved an incredible feat with Berkshire. They've turned thousands to billions, and have made a lot of people wealthy in the process. I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.

[bobbymainz]

Warren Buffett invent the strategy of buying/investing when the market is low and also buying/investing when the market is high? As Warren Buffet said, he has seen this happen many times in his life. Not an investor. My husband and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock...

[M.R]

Have a wealth of over $80, 000, 000, 000.00+ and if you're this humble, I salute you.

[RusuSilva]

I am an active duty service member and I have been investing for a few years. I have reached a point where I could benefit from financial advice to improve my $160k portfolio which seems to be stagnant and maximize return on my investment.

[Fate]

Warren is the wise grandfather that I never had. Blessed to have known and learnt from him through his books, videos and interviews.

[robithevampire]

When you become successful, anything you say will become a life lesson.

[BateserJoanne]

Taking early inspiration from Warren Buffett on the significance of solid asset diversification and risk management—it cannot be emphasized enough. I've been working on growing my $300K portfolio for some time now and would greatly appreciate any additional suggestions

[jamesclay]

Warren frequently makes good arguments. But hearing from someone with his level of experience is also beneficial. Given that the majority of my holdings ($650K) consist of Nasdaq, Apple, and Tesla companies, his opinion or any other professional recommendations on what to do would be greatly appreciated. I entered the market early, but I'm not sure if I should sell or buy back at a bargain considering the status of the market.

[franksmart]

Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time.

[jameswallace]

Warren is such a down to earth, truly good person. He understands business but he understands life even better.

[RyanContreras]

I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity

[stevensmiddlemass]

Buffett is extremely right about finding your passion. And also, nobody can become financially successful overnight. They put in background work, but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. I was able to increase my portfolio by $189k in months. You just have to seek for help in the right places. Nice video.