Eps 37: What You Can Learn From Bill Gates About FINANCIAL ADVICE
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Host
Everett Pena
Podcast Content
It is important to learn from the failures so as not to repeat the same mistakes and to use success as the driving force for further success. Failure may be your favorite, but failure is the failure that teaches you the most and gives you the best opportunity for growth. In addition to the happiness that success brings, you pay more attention to the lessons of failure.
When you are successful, you can learn lessons, you are happy, people will praise you and everyone will be ready to help you. Failure is more important than success because failure becomes success. Bill Gates once said that celebrating success is OK but listening to the lessons of failure is more important than success. In his 1995 book The Way Forward, Gates wrote that failure often teaches more success than success.
Gates understands that you can only be optimistic in the long term if you are pessimistic enough to survive in the short term. For most people, the best way to apply is to save like a pessimist and invest like an optimist. It is important to avoid short-sighted decisions when investing, and this is a lesson we can learn from the first quote from Bill Gates.
If you want to know what it takes to be successful, learn from the motivating lessons Bill Gates has shared with the world. With a career spanning 40 years we can learn many business lessons from Bill Gates, from business making to business processes. I searched the net and compiled a list of 10 successful lessons from Bill Gates; what he gave to people at one point or another in his life to show them what it takes to become rich and successful.
Bill Gates did not come to his current financial position by a long and continuous line of success after success - like anyone else - how to be successful and make the right investments - he spent hours learning to program and he had a talent for it.
He was pleased with this because it opened up new opportunities and potential for him to learn from other successful entrepreneurs who could teach him a thing or two. If you adapt to his own approach to continuous learning and continuous improvement, you will become a seasoned investor.
Technology is his way and reducing inequality in the world is his game. According to Bill Gates, a wise investment in a diversified portfolio of financial assets, real estate and collectibles helps to ensure that his wealth continues to grow. But beyond that, his charitable mission - to donate the most of his wealth to a cause to better help the world - could be his most important investment and certainly his enduring legacy.
Bill Gates invests his money in clean energy, education, healthcare and poverty reduction initiatives through his private office, Gates Ventures, a company that funds his investments, but also in buying real estate including a large estate and a private island. While owning unique real estate and rare cars is certainly a success, ownership of valuable and irreplaceable collectibles is a different matter - and Bill Gates certainly has a good collection of them.
Gates is not minimizing the importance of having money but suggests that you do it - this is the advice that Gates received from Warren Buffett and is extremely helpful to everyone - whether you are rich and successful or not.
If you start investing at an early age you will have the opportunity to make money every day, so as you get older you will have enough money. People who buy stocks to make a quick buck are usually burned, but if you load quality stocks and leave your portfolio intact, your patience will likely pay off in profits over time.
Forget all the cheap schemes and false investment advice you hear and instead focus on hard work and long-term investing. If you have a business or just want to improve yourself, look for programs to help you set and track goals. Even a simple paper list can help you get started achieving your goals.
Undoubtedly it is easy for one of the richest people in the world to overlook the value of excess wealth as he knows a thing or two about money. Whether you are a new investor or have invested for years in the stock market, here are some key takeaways from one of the most innovative public figures of our time.