When you picture a successful investor, it's hard not to conjure up an image of Warren Buffett, who's a billionaire many times over.

Buffett has made some smart choices in his life to get to where he is today. For example, he spent modestly on a home and never upgraded despite easily being able to afford to. And he's talked up his generally frugal lifestyle on numerous occasions.

But one of the smartest things Buffett did was buying his first stock at age 11. Another wise choice Buffett made? Sticking with the stock market for many years.

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Source Fool.com