5 Personal Finance Tips From Billionaires Michael Bloomberg, Warren Buffett and Ray Dalio
Source | LinkedIn | John Boitnott | Writer at Entrepreneur Media, Inc.com and Readwrite.com
They’re titans of industry and finance. But these billionaires have advice that anyone can follow for finding personal financial success.
One of the most beneficial aspects of the information age is the unprecedented accessibility it provides to our era’s most successful people. A hundred years ago, to get insight from an extremely successful person, you would have needed a personal introduction. Even then, you had no guarantee of learning what you really wanted to know.
Today, though, you can talk to them on Twitter, listen to their podcasts and read their blog posts — essentially putting the thoughts and experiences of the world’s most accomplished people at the your fingertips.
When it comes to personal finance, this means you can learn how to make and save money from billionaires. Here are five practical tips from some of the richest people in the world that will help improve your finances.
1. Ray Dalio says make sure you have a big enough safety net.
Billionaire author and founder of Bridgewater Associates, Ray Dalio, always advocates for a safety net. It’s advice that I and millions of others have taken to heart.
“Ask yourself, ‘How long can I get by on my savings without having any income? How many months or how many years of freedom and safety do I need?’ And make sure that you have more than that,” he told CNBC.