There is plenty of money to be made through investing, but some may not know where or how to start. The famous American business magnate and investor provided advice for those trying to make their fortune in the world of investing.
“The temptation when you see bad headlines in newspapers is to say, well, maybe I should skip a year or something. Just keep buying.
“The trick is not to pick the right company.
“The trick is to essentially buy all the big companies through the S&P 500, do it consistently and do it in a very, very low-cost way.”
The current net worth of Buffet is believed to be north of $100 billion (£72 billion), with the man himself describing his fortune as “incomprehensible.”
These donations included $4.1 billion (£3 billion) worth of Buffet’s shares in Berkshire Hathaway, which he donated to five charitable foundations.
Buffet estimates that he is “half way” to achieving his goal.
He also commented: “If you asked me to trade away a very significant percentage of my net worth either for some extra years on my life or being able to do during those years what I want to do, I’d do it in a second.”
However, the chairman and CEO of Berkshire Hathaway is not planning on sharing his fortune with his children, wanting them to make their own way.
He said: “After much observation of super-wealthy families, here’s my recommendation: Leave the children enough so that they can do anything, but not enough that they can do nothing.”