5 Retirement Tips From Warren Buffett For Aspiring Investors

Legendary investor Warren Buffett has a treasure trove of tips and advice for people who want to not only save money, but also become good investors and retire comfortably. The Oracle of Omaha has shared pearls of wisdom with investors, many of which he follows himself in his life.

Buffett is known for his investing acumen, but he is also known for living a frugal life. A combination of both would be what you need to retire comfortably.

Here are five Warren Buffet tips to retire from a lifetime of investing.

1. Never Lose Money

One of the most cited pieces of Buffett's wisdom is "never lose money." While it's not always possible to understand if you'll lose money on a given investment, it's prudent to still determine if you'll make a loss on something or not.

It's easier to bounce back from a fall in profit than it is to recover from a loss.

2. Start Investing Early

When Buffett was asked how he accumulated wealth, this is what he said: "Start early. I started building this little snowball at the top of a very long hill. The trick to have a very long hill is either starting very young or living to be very old."

Start investing as early as you can.

3. Buffett's Favorite Holding Period: Forever

Another one of Buffett's famous quotes is this: "Our favorite holding period is forever."

While Berkshire Hathaway does not really hold its investments forever when facts change, so would the investment rationale.

4. Fear Greed

When the markets get greedy, be fearful, since there could be a looming correction and stock prices may fall.

Buffett advises investors "to be fearful when others are greedy and to be greedy only when others are fearful."

5. Spend Less Than You Earn

Living within your means is one of the best ways to make sure you don't fall into a debt trap. Buffett's famously frugal lifestyle has saved him millions, and when a billionaire tries to be careful with his spending, there's no reason for commoners to spend more than they earn.

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