While I am still putting together my plan for this blog, I thought I’d put out this little ditty about being financially successful. You can get a deeper perspective about rich people by reading “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko. The main concepts apply to Warren Buffet, although he has taken his money level 1000-fold (i.e., a thousand million equals a billion) to billionaire status. I really got a kick out of the advice that I am about to convey from Mr. Buffet. It hits home at SO MANY levels, and it has done so every tiime I’ve heard it.

These are the rules that Warren Buffet gives to the CEOs of his companies:

Rule No. 1: Do not lose any of your shareholder’s money.
Rule No. 2: Do not forget rule number 1.

Okay…so the message is, do not lose money. Wouldn’t our economic lives, personally, nationally and globally, be a lot different if we and all the folks in charge had followed these rules?

If this advice seems simple-minded, then at least consider its source. Warren Buffet has done pretty well with it. You can, too.

All the best,

Dr. D