{"id":5448,"date":"2015-06-02T00:29:58","date_gmt":"2015-06-02T04:29:58","guid":{"rendered":"https:\/\/aspire-canada.com\/?p=5448"},"modified":"2017-05-26T15:10:17","modified_gmt":"2017-05-26T19:10:17","slug":"warren-buffetts-14-best-tips-for-the-class-of-2015","status":"publish","type":"post","link":"https:\/\/aspire-canada.com\/?p=5448","title":{"rendered":"Warren Buffett\u2019s 14 Best Tips for the Class of 2015"},"content":{"rendered":"<h2 id=\"post-332684\">Warren Buffett\u2019s 14 Best Tips for the Class of 2015<\/h2>\n<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" title=\"warren buffett advice college grads\" src=\"http:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2015\/05\/warren_buffett_advice_college_graduates.jpg\" alt=\"warren buffett advice college grads\" width=\"800\" height=\"533\" \/><\/p>\n<p>As a self-made billionaire, Warren Buffett has plenty of firsthand knowledge about what it takes to achieve success. So when\u00a0Buffett gives advice, people listen. But for those about to leave college to start <a id=\"PXLINK_4_0_3\" class=\"pxInta\" href=\"https:\/\/aspire-canada.com\/the-best-careers-for-your-personality-type\/\">careers<\/a>, this advice could prove particularly valuable and help the graduates get a sense of where they should be going and how fast they can get there. Below are the 14 best pieces of advice he has given to students and young people.<\/p>\n<h2>1. Invest in Yourself First<\/h2>\n<p>As a star investor, Buffett knows where to find true value, and the first place he tells students to look for it is within. \u201cInvesting in yourself is the best thing you can do \u2014 anything that improves your own talents,\u201d Buffett said in a 2009 interview on \u201cGood Morning America.\u201d<\/p>\n<p>Investing in yourself is one of the only investments over which you can have total control and can never lose. \u201cIf you have true talent yourself, and you have maximized your talent, you have a terrific asset,\u201d he said.<\/p>\n<h2>2. Develop Integrity<\/h2>\n<p>At a 1998 lecture at the University of Florida <a id=\"PXLINK_2_0_1\" class=\"pxInta\" href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-14-best-tips-class-2015\/#\">School of Business<\/a>, he asked the students in the audience to think of someone in their class who had the makings of success, such that the audience members would want to get 10 percent of that person\u2019s earnings for the rest of their lives. \u201cYou would probably pick the one you responded the best to, the one who has the leadership qualities, the one who is able to get other people to carry out their interests,\u201d said Buffett. \u201cThat would be the person who is generous, honest and who gave credit to other people for their own ideas,\u201d \u2014 in short, the person who exhibited integrity.<\/p>\n<h2>3. Break Bad Habits While You\u2019re Young<\/h2>\n<p>Buffett said bad habits often hold people back: \u201cI see people with these self-destructive behavior patterns at my age or even 20 years younger, and they really are entrapped by them.\u201d<\/p>\n<p>For those who are young, however, it is still relatively easy to identify those poor qualities and work to improve them, Buffett told the students at University of Florida: \u201cYou can get rid of it a lot easier at your age than at my age, because most behaviors are habitual. The chains of habit are too light to be felt until they are too heavy to be broken.\u201d\u00a0Everyday habits can help successful people\u00a0push harder and get further than others.<\/p>\n<h2>4. Know Your Strengths and Capitalize on Them<\/h2>\n<p>Buffett told Georgia State students in 2001 that it\u2019s important to know your limits and not stray too far from them. In fact,<a title=\"buffett's investment philosophy\" href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-investment-secretstick\/\">Buffett\u2019s investment philosophy<\/a> is centered on putting his money where his knowledge is.<\/p>\n<p>\u201cYou don\u2019t have to be an expert on everything, but knowing where the perimeter of that circle of what you know and what you don\u2019t know is, and staying inside of it is all important,\u201d he said. \u201cTom Watson Sr., who started IBM, said in his book, he said, \u2018I\u2019m no genius. But I\u2019m smart in spots, and I stay around those spots.\u2019\u00a0And, you know that is the key. So if I understand a few things and stick in that arena, I\u2019ll do OK.\u201d<\/p>\n<h2>5. Don\u2019t Risk What You Have and Need for What You Don\u2019t<\/h2>\n<p>Buffett told University of Florida students that in his decades as an investor he has sometimes seen businesses put themselves at risk to chase after bigger and bigger profits, and has seen people do that at the individual level as well. \u201cIf you risk something that is important to you for something that is unimportant to you, it just doesn\u2019t make sense,\u201d he said. \u201cI don\u2019t care if the odds you succeed are 99 to 1 or 1,000 to 1 that you succeed.\u201d<\/p>\n<h2>6. Work at a Job You Love<\/h2>\n<p>\u201cI get to work in a job that I love, but I have always worked at a job that I loved,\u201d Buffett said of his investing career. It isn\u2019t just about the money for him, either: \u00a0\u201cI loved it just as much when I thought it was a big deal to make $1,000.\u201d<\/p>\n<p>\u201cYou really should take a job that if you were independently wealthy that would be the job you would take,\u201d Buffett told University of Florida students. \u201cYou will learn something, you will be excited about, and you will jump out of bed. You can\u2019t miss. \u2026 When you get out of here take a job you love, not a job you think will look good on <a id=\"PXLINK_5_0_4\" class=\"pxInta\" href=\"https:\/\/aspire-canada.com\/proof-of-demonstrable-experience-how-to-quantify-your-resume-bullets\/\">your resume<\/a>. You ought to find something you like.\u201d<\/p>\n<h2>7. Be a Nice Person<\/h2>\n<p>\u201cBe a nice person,\u201d Buffett once advised a young MBA student.\u00a0\u201cIt\u2019s so simple that it\u2019s almost too obvious to notice. Look around at the people you like. Isn\u2019t it a logical assumption that if you like traits in other people, then other people would like you if you developed those same traits?\u201d<\/p>\n<h2>8. Take Care of Your Body and Mind<\/h2>\n<p>Buffett often shared this fable, as quoted in his biography, \u201cThe Snowball: Warren Buffett and the Business of Life,\u201d asking students to imagine if a genie came to him at 16 and offered him the car of his dreams, but the catch was that it would also be the last car Buffett could ever own. The car would have to last a lifetime, and to make sure that happened, he said, \u201cI would read the manual about five times. I would always keep it garaged. If there was the least little dent or scratch, I\u2019d have it fixed right away because I wouldn\u2019t want it rusting. I would baby that car, because it would have to last a lifetime.\u201d<\/p>\n<p>Then Buffett related the fable back to the students: \u201cThat\u2019s exactly the position you are in concerning your mind and body. You only get one mind and one body. And it\u2019s got to last a lifetime. Now, it\u2019s very easy to let them ride for many years. But if you don\u2019t take care of that mind and that body, they\u2019ll be a wreck 40 years later, just like the car would be.<\/p>\n<p>\u201cIt\u2019s what you do right now, today, that determines how your mind and body will operate 10, 20, and 30 years from now,\u201d he said.<\/p>\n<h2>9. Find a <a href=\"https:\/\/aspire-canada.com\/mentors\/\">Mentor<\/a><\/h2>\n<p>Buffett\u2019s success is due in large part to his own particular set of talents, drives and knowledge. But it was the help of a mentor, Benjamin Graham, that set Buffett on <a id=\"PXLINK_3_0_2\" class=\"pxInta\" href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-14-best-tips-class-2015\/#\">the investment<\/a> philosophy that he grew upon to build a multibillion-dollar empire. Buffett read Graham\u2019s book and applied to <a id=\"PXLINK_1_0_0\" class=\"pxInta\" href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-14-best-tips-class-2015\/#\">Columbia University<\/a>, where Graham taught.\u00a0<span class=\"thread\">He developed a relationship that led to Buffett getting a job offer from Graham after graduation.<\/span><\/p>\n<p>\u201cI really had a quarter of a century of experience with a marvelous man,\u201d Buffett said of the years spent working with his mentor. Not only did Graham guide Buffett\u2019s career, \u201cbut the human side was just as impressive. He was a generous man,\u201d Buffett said.<\/p>\n<h2>10. Work for and Surround Yourself With People You Admire<\/h2>\n<p>In addition to Graham, Buffett has always sought to work with talented and hard-working people. \u201cYou know, people always say, \u2018Well who should I go to work for when I get out then?\u2019 \u2026 The real thing to do is to get going for some institution or individual that you admire,\u201d Buffett advised Georgia State students in a 2001 speech.<\/p>\n<p>\u201cIt\u2019s better to hang out with people better than you,\u201d Buffett said on another occasion in response to a high school student\u2019s request for advice on how to be successful. \u201cPick out associates whose behavior is better than yours and you\u2019ll drift in that direction.\u201d<\/p>\n<h2>11. Face Your Fears<\/h2>\n<p>\u201cI used to be afraid of public speaking, and I realized that I\u2019d have to do that someday,\u201d Buffett told a group of MBA students, according to Business Insider. Knowing he couldn\u2019t avoid this task forever, no matter how unsavory it might seem to him, Buffett was proactive: \u201cI do have one diploma I display from Dale Carnegie\u2019s public speaking course, and it only <a id=\"PXLINK_6_0_5\" class=\"pxInta\" href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-14-best-tips-class-2015\/#\">cost<\/a> me $100.\u201d Choosing to face what he was afraid of led Buffett to make a huge change, and today his speeches are listened to and quoted by millions.<\/p>\n<h2>12. Jealously Guard Your Time<\/h2>\n<p>Bill Gates said that one of the biggest lessons he\u2019s learned from Buffett is to be careful with his time. \u201cThere are only 24 hours in everyone\u2019s day. Warren has a keen sense of this. He doesn\u2019t let his calendar get filled up with useless meetings,\u201d Gates once wrote. The best part of time is that even the poorest new college graduate has as much of this resource as the world\u2019s richest men, and how it\u2019s used can help push you to success.<\/p>\n<h2>13. Avoid Credit Cards<\/h2>\n<p>\u201cThe biggest suggestion I have is to avoid credit cards,\u201d Buffett said, according to CNBC. \u201cInterest rates are very high on credit cards. Sometimes they are 18 percent. Sometimes they are 20 percent. If I borrowed money at 18 or 20 percent, I\u2019d be broke. \u2026 So if I had one piece of advice for young people generally it would be to just avoid credit cards.\u201d<\/p>\n<h2>14. Seize Opportunities While You Can<\/h2>\n<p>\u201cBig opportunities in life have to be seized,\u201d Buffett said in that Georgia State address. \u201cWe don\u2019t do very many things, but when we get the chance to do something that\u2019s right and big, we\u2019ve got to do it. And even to do it in a small scale is just as big a mistake almost as not doing it at all.<\/p>\n<p>\u201cYou\u2019ve really got to grab them when they come, because you\u2019re not going to get 500 great opportunities.\u201d<\/p>\n<p><small><span class=\"lighten\">Photo credit:<\/span> <a class=\"secondary\" href=\"http:\/\/www.shutterstock.com\/gallery-2499775p1.html\">GongTo<\/a> \/ <a class=\"secondary\" href=\"http:\/\/www.shutterstock.com\/editorial\">Shutterstock.com<\/a><\/small><\/p>\n<p>This article originally appeared on GOBankingRates.com: <a href=\"http:\/\/www.gobankingrates.com\/personal-finance\/warren-buffetts-14-best-tips-class-2015\/\">Warren Buffett\u2019s 14 Best Tips for the Class of 2015<\/a>. This article by Elyssa Kirkham first appeared on GoBankingRates.com and was distributed by the <a href=\"http:\/\/pfsyn.com\/918\/warren-buffetts-14-best-tips-for-the-class-of-2015\">Personal Finance Syndication Network<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Warren Buffett\u2019s 14 Best Tips for the Class of 2015 As a self-made billionaire, Warren Buffett has plenty of firsthand knowledge about what it takes to achieve success. So when\u00a0Buffett gives advice, people listen. But for those about to leave college to start careers, this advice could prove particularly valuable and help the graduates get&#8230;<\/p>\n<div class=\"btnReadMore\"><a href=\"https:\/\/aspire-canada.com\/?p=5448\">READ MORE<\/a><\/div>\n","protected":false},"author":3301,"featured_media":5449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","pmpro_default_level":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-5448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Warren Buffett\u2019s 14 Best Tips for the Class of 2015<\/title>\n<meta name=\"description\" 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