Life Lessons From Warren Buffett
Berkshire Hathaway’s annual shareholders meeting is always closely watched by investors and economic pundits. But this year’s edition was truly historic.
For the first time in 60 years, the company has a new CEO, Greg Abel, following the retirement of Warren Buffett in 2025.
In his legendary tenure, Buffett built Berkshire Hathaway into one of the biggest companies in the world. “The Oracle of Omaha’s” annual remarks to shareholders had the power to move markets. But, as he grew older, Buffett’s observations on how to live a truly wealthy life became just as noteworthy.
No matter how big your nest egg is, these three lessons from Buffett can help you get more from life with the money you have.
- Pursue Your Passion.
Warren Buffett liked to say that he “tap danced to work” every day. To him, investing wasn’t just a way to make money. It was his passion.
If you can align your daily work routine with people, places, and activities that you genuinely enjoy, then your “job” won’t feel like “work.” Instead, you’ll spend your day moving between modes of interest, expression, and passion with real freedom. Rather than “balancing” your life and work, you’ll be able to integrate and move freely between the two.
Of course, “following your passion” isn’t always practical, especially when you’re raising a family and trying to progress towards long-term financial goals. It might take years and a career pivot or two to find the ideal alignment.
Or, you might need to approach the job you already have from a different perspective. For example, maybe you can’t afford to transition into teaching. But if you enjoy sharing your professional knowledge with others, find more opportunities at your current employer for mentorship and training.
- Practice Gratitude.
Warren Buffett does not live within his means.
He lives within the means of a young man starting a business while raising three children.
Buffett lives in the same house he bought in 1958. He enjoys McDonald’s breakfast and a few Cokes throughout the day. He spends most of his time reading. He likes playing the ukulele.
Part of the reason for Buffett’s famous frugality is his enormous sense of gratitude. In his letters and speeches, he often talks about being visited by “Lady Luck.” And he attributes much of his success to a steadfast belief in “the American tailwind” and investing in “wonderful companies” (like Coca-Cola).
Those of us who aren’t billionaires might have a harder time practicing gratitude. But many studies have linked daily gratitude practices to higher feelings of happiness and lower stress. You can always earn more money. It’s how you use that money to support the things that truly matter – the people you love, the things you love doing, and your physical and mental wellbeing – that will ultimately define how successful you are.
- Give Generously.
Just like practicing gratitude, charitable giving has a strong link to personal happiness.
Which might be a big reason that Buffett always seems so cheerful. As a co-founder of the Giving Pledge, Buffett promised to give more than 99% of his wealth to philanthropy during his lifetime, with the remainder set aside for his family.
For those of us with more modest means, it’s worth remembering that money isn’t the only way to give back. Taking a weekly volunteer position can make giving a part of your routine. Pitching in at neighborhood collection drives can make giving a family activity.
If you do want to support causes financially, we can talk about integrating sustainable giving strategies in your Life-Centered Financial Plan.
Make an appointment and let’s talk about how our process can help you redefine what “wealthy” means to you.
Investment advisory services are offered through Kingsview Wealth Management, LLC (“KWM”), an SEC Registered Investment Adviser. Insurance products and services are offered and sold through Kingsview Insurance Services, LLC (“KIS”), by individually licensed and appointed insurance agents. KWM and KIS are subsidiaries of Kingsview Partners.
