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

Source: Success Soul July 15, 2008

Warren Buffett never flies in a private jet -- even though he owns the largest private jet company. He also lives in a small three-bedroom house he bought 50 years ago, and keeps himself occupied by playing online bridge.

It is refreshing, and inspiring, to hear of a man with all the wealth in the world who still believes that happiness lies not with riches but within yourself.

You, too, may  become immensely happier by integrating some of the following wisdom into your own life.

Secret #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.” -- Warren Buffett

If you do what you love and love what you do, you’ll naturally be productive.

Secret #2: Find happiness in simple pleasures.

“I have simple pleasures. I play bridge online for 12 hours a week.” -- Warren Buffett

You can also learn to be happy with the simple pleasures of playing cards with friends, playing with your children or taking a walk in the wilderness.

Secret #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.” -- Warren Buffett

Keeping up with the Joneses is the worst epidemic among those who should never contemplate that notion in the first place. Less is more.

Secret #4: Think Simply.

“I want to be able to explain my mistakes. This means I do only the things I completely understand.” -- Warren Buffett

If you apply this rule in your life, you can develop clarity and sanity in your thoughts. Life is about simple yet profound choices.

Secret #5: Invest Simply.

“The best way to own common stocks is through an index fund.” -- Warren Buffett

Often, the simplest route will bring you the most riches, and the most happiness.

Secret #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.” -- Warren Buffett

Having a mentor is as important as having a purpose in your life, but having a wrong mentor is as devastating as having a wrong purpose in your life. The mentor has to be someone you can trust. You’ll find that person in your inner circle if you think hard enough.

Secret #7: Making money isn’t the backbone of your guiding purpose; making money is the by-product of your 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.” -- Warren Buffett

Money should never become the object and end all of your motivation.