Warren Buffett is one of the most sought after trader and investing guru. Let us count the reason. The business magnate’s net profit (as of February 2016) is $59.4 billion. Forbes ranked him as one of the world’s most powerful people last year. And all types of investors ascribe to his trading philosophy.

Speaking of philosophy, the Berkshire Hathaway CEO wants all of the retirees to learn the following principles useful for retirement.

Do Due Diligence

You have heard this saying from many financial advisors and so is Buffett. Just like the other successful investors, he did his own research carefully before making a huge decision. That helped him avoid unnecessary failures or losses. Case in point: his Burlington Northern Santa Fe acquisition during a major recession in 2009. That gamble resulted in a revenue of $23.2 billion in 2014 from $18 billion several years ago.

Keep Emotions at Bay

The philanthropist resists the temptation to follow the market’s general mood. For example, if traders are greedy, he is frightened, and vice versa. Follow that investing tip and you will find yourself maximizing profits the right way - buying low and selling high.

Seek Good Value

Buffett is a value investor and known for purchasing undervalued stocks with a substantial margin of safety. For instance, if a stock trades at $20 per share, he will wait until it drops to $17 per share. How to find a good value? Be patient and let things unfold naturally. Figure out the price you are willing to pay for an instrument. And most importantly, integrate a margin of safety especially for people who are already in their golden years.

Think Long-Term

Make your retirement fund last for a lifetime. Allocate a portion of your portfolio in equities. Here’s why: the seasoned investor said one should remain in the market but concentrate on stable firms which look like a good catch over the long run. Case in point: his purchase of Coca-Cola shares for over $1 billion, stipulating its strong brand would protect the company from its rivals. And he is right, its stock price increased by almost 16-fold over the next 27 years.