When it comes to investing, few names carry as much weight as Warren Buffett. Known as the “Oracle of Omaha,” Buffett has built one of the greatest fortunes in history through a mix of disciplined investing, patience, and wisdom. But what’s more valuable than his wealth is the knowledge he has shared with others on how to approach investing.

If you’re serious about building long-term wealth, you need to listen to Buffett’s advice. Here, we break down his ten golden rules for investing, which could help guide your financial journey to success.

1. Reinvest Your Profits

One of Buffett’s earliest lessons was to reinvest profits rather than spending them. Early in his life, Buffett used profits from a pinball machine business to buy more machines, multiplying his earnings. This reinvestment strategy laid the foundation for his business empire.

Takeaway: When your investments start to pay off, don’t be tempted to cash out too early. Reinvest those profits for compounded growth over time.

2. Be Willing to Be Different

Buffett advises you to think independently and not base decisions on what everyone else is doing. When he started his partnership in 1956, he was labeled an oddball for not working on Wall Street. Yet, 14 years later, his company was worth over $100 million.

Takeaway: Don’t follow the herd. Trust your research and instincts, even if your approach seems unconventional.

3. Never Suck Your Thumb

In Buffett’s words, “thumb-sucking” is delaying decisions unnecessarily. Gather the information you need to make a decision, and then act. Hesitation can be costly.

Takeaway: Swift and informed decisions are better than endless overthinking. Learn to act decisively based on facts.

4. Spell Out the Deal Before You Start

Always clarify the terms of any agreement upfront. This ensures everyone is on the same page and minimizes the risk of disputes later. Buffett’s grandfather taught him this lesson when he made him negotiate the price for shoveling snow before starting the job.

Takeaway: Clear communication and transparency in financial agreements can protect you from future headaches.

5. Watch Small Expenses

Buffett is known for his frugality and his focus on the tiny details. Even in large companies, small expenses can add up. He once bought a business simply because of how tightly its owner controlled minor costs.

Takeaway: Keep a close eye on your expenditures, no matter how small. Over time, these small savings can significantly boost your bottom line.

6. Limit What You Borrow

Buffett has always advised against taking on too much debt. He never borrowed heavily, even when purchasing large companies. Borrowing might seem tempting, but it can quickly lead to financial stress if not managed carefully.

Takeaway: Keep debt levels low. Invest money you actually have, and avoid over-leveraging.

7. Be Persistent

Success doesn’t come overnight. Buffett advises sticking to your goals and being persistent, even when the going gets tough. He fought hard to acquire Nebraska Furniture Mart from a tough negotiator, showing the value of persistence.

Takeaway: Stay the course and keep fighting for your vision. Persistence in the face of competition and challenges pays off.

8. Know When to Quit

Not every investment or decision will turn out right. Buffett learned this the hard way through some bad gambling experiences in his youth. His lesson? Know when to walk away from a bad investment to avoid further losses.

Takeaway: Cut your losses when necessary. Don’t hang on to a losing investment out of stubbornness.

9. Assess the Risks

Buffett never shies away from tough decisions, but he always weighs the risks involved. Whether it’s potential legal trouble or a financial downturn, it’s essential to consider the best- and worst-case scenarios.

Takeaway: Always evaluate risks before making any decision, especially in volatile markets.

10. Know What Success Really Means

For Buffett, success isn’t just about accumulating wealth. In 2006, he pledged to give away most of his fortune, showing that true success lies in how you use your resources for the greater good.

Takeaway: Don’t measure success solely by how much money you make. True success is about the impact you leave behind, both financially and personally.

Final Thoughts

Warren Buffett’s rules for investing have withstood the test of time. By reinvesting your profits, making informed decisions, and keeping a cool head in risky situations, you can set yourself up for long-term financial success. These principles aren’t just for professional investors — they can be applied by anyone looking to grow their wealth.

Buffett’s final lesson might be the most important: success isn’t just about the numbers. It’s about what you do with the wealth you accumulate and how you measure fulfillment.

So, take these rules to heart and start building a future where your investments — and your life — thrive.