Warren Buffett is well known for his prowess as an investor. Known as the “Oracle of Omaha,” Buffett has racked up a net worth of over $110 billion, Forbes reported. But Buffett has also dispensed a wealth of advice over the years about ways to invest that don’t actually require any money.
Invest In Yourself
“Invest in as much of yourself as you can,” Buffett has said. “You are your own biggest asset by far.”
This means taking the time to take care of both your body and mind.
“You only get one mind and one body and it’s got to last a lifetime,” Buffett said. “But if you don’t take care of that mind and that body, they’ll be a wreck 40 years later, just like a car would be.”
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Invest In Cultivating Good Habits
Going along with the idea of investing in yourself is the idea of breaking bad habits and creating productive ones.
“Chains of habit are too light to be felt until they are too heavy to be broken,” Buffett said.
Invest In Your Network
Buffett said to be mindful of whom you surround yourself with in your professional life. Ideally, you should aim to work with people you can learn and grow from.
“It’s better to hang out with people better than you,” Buffett said. “Pick out associates whose behavior is better than yours and you will drift in that direction.”
Invest In Learning
There are many free books and other learning resources available that will help to expand your mind and make you a more critical thinker — something Buffett has said is essential to his success.
“I insist on a lot of time being spent . . .to just sit and think,” he said. “I read and think. By doing so, I make less impulse decisions than most people in business.”
Invest In Your Career
Buffett believes that it’s important to take the time to find a career you are passionate about.
“Take a job that you love,” he said. “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?”
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