Warren Buffett, the world's most successful investor, has offered us plenty of sage advice in the past. Today's lesson on money mistakes is as simple as it gets, but bears repeating.
In answer to the question "What's the biggest mistake we make when it comes to money?" Buffett told the Dan Patrick Show:
Well, I think the biggest mistake is not learning the habits of saving properly early. Because saving is a habit. And then, trying to get rich quick. It's pretty easy to get well-to-do slowly. But it's not easy to get rich quick.
We've talked about this foundation rule and the concept of "paying yourself first" before, but the article in the Motley Fool where Buffett's advice appears emphasizes the huge difference starting early—no matter how little you have to save—will make on your lifetime savings. At the very least, young grasshoppers, get your employer's 401(k) match if you can, because time is on your side.
You'll find more financial wisdom from Warren Buffett at The Motley Fool below.
Warren Buffett Reveals the Biggest Mistake We Make When It Comes to Money | The Motley Fool
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