The Simple Secrets to Warren Buffett's Incredible Wealth
Here are the basics on how Buffett achieved success -- and you can, too.Krista Kennell / Shutterstock
But if it's so easy, you ask, why aren't more people as freaking rich as Buffett is? Because his approach takes the kind of discipline, patience and instinct that many either don't have or are unwilling to develop.
Here are 10 secrets to finding and sustaining success, from the "Oracle of Omaha."
1. It starts with good communication
Buffett's first key to prosperity has little to do with picking stocks. He says you need to become a strong communicator: Wield words as your most important tools.
"Without good communication skills, you won’t be able to convince people to follow you even though you see over the mountain and they don't," Buffett once told a Stanford MBA student.
While this is sage advice for financial planners, it's good for helping anyone develop leadership skills and the ability to think in stressful situations.
2. Live frugally
Buffett famously lives well below his means. He has been known to drive an older, modest car. He still resides in the house he bought in Omaha, Nebraska, for $31,500 in 1958, and he picks up breakfast at a McDonald's drive-thru almost every day.
Think of wealth as security, not a license to spend foolishly. Live modestly, and you'll be able to weather dips in the financial markets. If you invest to feed a lavish lifestyle, you'll soon find yourself making rash decisions based on greed.
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