Warren Buffett looks for undervalued companies with a wide economic moat. He shuns get-rich-quick investments and focuses on picking businesses rather than stocks.

The Oracle of Omaha's magic touch has made scores of investors rich. Had you bought Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) shares at the start of Buffett's tenure, you'd have gotten returns of 3,787,464% over a 58-year holding period.

But how can a regular person apply Buffett's strategy to basic financial goals, like saving for retirement? What if you don't have the time or energy to sift through balance sheets and income statements? Fortunately, Buffett has plenty of advice for us mere mortals on how to get rich by the time we retire.

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Source Fool.com