Warren Buffett's 7 Secrets for Living a Happy and Simple Life

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Each secret is followed by a quote from Warren Buffett.

1. Happiness comes from within.
In my adult business life I have never had to make a choice of trading between professional and personal. I tap-dance to work, and when I get there it’s tremendous fun.

2. Find happiness in simple pleasures.
I have simple pleasures. I play bridge online for 12 hours a week. Bill and I play, he’s “chalengr” and I’m “tbone”.

3. Live a simple life.
I just naturally want to do things that make sense. In my personal life too, I don’t care what other rich people are doing. I don’t want a 405 foot boat just because someone else has a 400 foot boat.

4. Think Simply.
“I want to be able to explain my mistakes. This means I do only the things I completely understand.”

5. Invest Simply.
The best way to own common stocks is through an index fund.

6. Have a mentor in life.
I was lucky to have the right heroes. Tell me who your heroes are and I’ll tell you how you’ll turn out to be. The qualities of the one you admire are the traits that you, with a little practice, can make your own, and that, if practiced, will become habit-forming.

7. Making money isn’t the backbone of our guiding purpose; making money is the by-product of our guiding purpose.
If you’re doing something you love, you’re more likely to put your all into it, and that generally equates to making money.