Buffett once told young people:
"I haven't done hundreds of major things in my life. What truly determined the course of my life were no more than ten things.
Too many people waste their time on 'trivial matters' and thus miss out on what's truly important."
Avoid his investment strategies. Here are "10 things" that, although not related to the amount of wealth, can help you avoid anxiety, avoid detours, and live your life the way you want it to be.
01、Just focus on "things that you can understand" and avoid "temptations outside your area of competence"
Buffett never invests in industries he doesn't understand. Even if the tech stocks are soaring, he always sticks to familiar areas such as "consumer goods" and "finance".
He said: "Money that exceeds your ability circle, no matter how quickly you earn it, will eventually be lost through luck."
For ordinary people, this is not "conservative", but rather a state of clarity: Instead of following the crowd and making mistakes in unfamiliar fields, it's better to focus your energy on what you are good at - for example, doing your job to the best of your ability and turning your hobbies into a side business.
This way, you are more likely to achieve results.
02、Spending time on "things with compound interest" and rejecting "short-term consumption"
"Compound interest" is the core investment philosophy of Warren Buffett, but he applies this thinking to his life as well: "Reading, exercising, building reliable connections - these things may not show results today, but 10 years later they will completely transform you;
while watching short videos, attending meaningless gatherings, complaining and getting entangled, will only make you increasingly mediocre by consuming yourself."
Don't always ask "Is doing this thing useful?", instead think "Can this thing help me 'accumulate energy'?"
Spending 1 hour reading every day, that's 365 hours a year, and 10 years is 3,650 hours - you will find that the gap in life is actually the gap of "compound interest".
03、Stop immediately when faced with "bad people and bad things" to avoid being overwhelmed by the negative impacts.
Munger, Buffett's partner, once said: "Throughout my life, my greatest achievement has been learning to 'stop losses' - when encountering the wrong people or unpleasant situations, I immediately withdraw and never get involved."
But Buffett told us: "Life is limited in duration. Allocating your energy to those who are worthy and to the right things is the greatest responsibility you can have for yourself."
04、Every year, "deeply reflect at least once" on what exactly I want?
Every year, Buffett spends two weeks in his small office in Omaha, "closing himself off" - not checking his phone or answering calls, but solely focusing on one thing: reviewing his decisions from the past year and contemplating the direction for the future.
He says, "Too many people are so busy that they don't have time to think about 'why they are so busy', and end up living their lives in a 'habitual' manner."
Don't let "keeping on moving every day" turn into "forgetting the destination".
At the end of each year, spend one day answering these three questions:
①What did I get right this year?
② What did I do wrong?
③ What is the one goal that I most want to achieve next year? Once you think it through, you won't stray from the right path.
05、 Respect "common sense" and don't blindly believe in "shortcuts".
Buffett never believes in "overnight wealth".
His investment logic is all based on "common sense":
- "A good company is one that can consistently make profits and has competitive products;
- a good person is someone who keeps their word and does things reliably."
In life, some people always think of "finding connections" or "taking shortcuts", but they forget the most basic common sense:
- in the workplace, ability is the hard currency;
- in relationships, sincerity is the must-have skill;
- in life, taking one step at a time is the most stable path.
06、Take the time to "be with the people you care about", don't wait until it's "too late"
Buffett once said: "The thing I'm most proud of in my life is not how much money I've made, but being able to go home every night and have dinner with my family."
We always think things like "I'll spend time with my family when I have money" or "I'll care about my friends when I'm not busy".
But time doesn't wait for us. A meal, a phone call, a meeting - these "small things" accumulate over time and become the most precious wealth in life. Don't let "being busy" become an excuse for regret.
07、Admit "that one is not perfect", and accept "that there are certain things one cannot do"
In the early days, he invested in Berkshire Hathaway but suffered losses due to misjudgment. However, he never got bogged down by it: "I'm not a god and can't always be right.
Accepting my imperfections allows me to focus on the 'things I can do well'."
Too many people are afraid to start because they are afraid of failure, and they are afraid to admit their shortcomings because they are afraid of being ridiculed.
But true strength lies in knowing that one has flaws, yet still being willing to move forward - after all, an imperfect life is the true life.
08、 Persist in the concept of "lifelong learning", even if you only study for 10 minutes every day.
At the age of over 90, Buffett still spends 5-6 hours reading every day.
He said, "All my wisdom is gained through reading. The day I stop learning is the day my life comes to a standstill."
Learning is not "the business of students", but rather everyone's "essential course in life":
- Acquiring a new skill can provide you with an additional way out;
- reading a good book can help you solve a confusion;
- even reading a valuable article can give you another perspective to view the world.
Don't let "I have no time" become the reason for giving up on growth.
09、 Don't compare your life with others'. Instead, only compare your progress with yourself.
Buffett never cared about how much money others made or how big their houses were. He said, "I only compare myself with my past - today's me is better informed than yesterday's me, and more mature than last year's me. That's enough."
On social media, there are always people sharing their "perfect lives". But what you don't know is that everyone has their own problems.
Focus on your own growth: earn 100 more dollars today than yesterday, and acquire one more skill tomorrow. Take it slowly, and eventually you will live the way you want.
10、Always "remain kind", but kindness should have a limit.
Throughout his life, Buffett has been engaged in charity work, but he never compromises with "bottomless" demands.
He said, "Kindness is a virtue, but without a limit, kindness will only make others take your kindness for granted."
Be more tolerant towards strangers, be more sincere towards friends, and be more patient towards family members - this is kindness; but to refuse those who are selfish, and to fight back against those who hurt you - this is the bottom line.
Kindness has a limit, and gentleness has a degree. This is the best protection for yourself.
Buffett's "10 Things" contain the most simple yet profound wisdom about life: Life is not about "doing as many things as possible", but about "doing the important things well".
Change begins today. Just do one thing - for instance, read for 10 minutes every day, have a meal with your family once a week, or cut your losses when dealing with bad people or bad situations - and you will find that your life is gradually improving.