Wealth building is a long and arduous process. But those who survived the process proved that becoming a billionaire is possible. As they’re now enjoying the benefits of a consistent passive income, newbie investors look forward to do what they’re doing. This is the reason financial service providers, such as Truebell Capital, consider it their mission to help first time investors get started and stay on the right track.
Based on interviews and portfolio analysis, the following insights are the secrets top investors use to build their wealth.
Warren Buffett on Long-Term Options
It’s easy to think that Warren Buffet is an avid and voracious investor, considering his portfolio. But it’s not really the case. Buffet managed to build his wealth through conservtive investment strategies. He advocates long-term options. And he prefers to invest in companies that can prove their long-term sustainability. He suggests, “If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes.” For newbies, don’t hesitate to seek help from experts, such as Truebell and other firms.
Bill Gates and the Importance of Having Mentors
Bill Gates has been the world’s wealthiest person for many years in a row. But did you know that he’s also the second most generous philanthropist? Gates believed that no matter how good you are, a good mentor can always bring out a better version of you. His mentor is nothing less than the famous Oracle of Omaha, Warren Buffett.
Chris Sacca on Mastering the Art of Delayed Gratification
Yes, it’s good to enjoy your hard-earned paycheck. But if you’re looking forward to an early retirement as early as 30 years old, it would be wise to hold your horses a little bit. As the early venture capitalist of some of today’s tech companies (e.g., Instagram, Uber, Twitter, and Kickstarter), Chris Sacca stands by the importance of delayed gratification. The young ones can benefit a lot by saving their money and investing it with experts, such as Truebell Capital. The movies and long road trips can wait.
Joe Greenblatt on Transparency
It’s always the knowledge and skills that will help you build your wealth. It’s not the too-good-to-be-true investment promises. So as a young investor, always aim to understand. Be an independent thinker. Read a lot. And seek guidance from experts, be it from real-life people from Truebell Capital or from other online sources.
George Soros and Being Frugal
When you’re young, it’s easy to fall into the trap of spending your recent investment returns on travel and the latest gadgets. After all, what’s money for, right? But if you’re serious about growing your financial portfolio, George Soros advocates the importance of frugality.
Bernard Baruch on Conquering Greed
As an American stock investor and financial adviser to US Presidents, Baruch have seen a lot of investors fall due to greed. Allow your profit to sit for a little while just in time for it to gain more. Remember the long-standing saying in stock investing, “Bulls make money and bears make money, but pigs never do.” Or better yet, work closely with an investing firm, such as Truebell Capital, to know when to withdraw your money.
As a new investor, the wisdom of the billionaires are always music to the ears. So be sure to get some more, every day, if you’re really serious, by doing your own research. It’s also good to learn from tenured financial consultants from Truebell and other firms. For more details, visit at https://truebellcapital.com/.