Warren Buffett, known for his investment acumen and philosophical wisdom, offers valuable advice for those approaching retirement. Key insights include the importance of lifelong learning, the power of saying no to protect personal time, viewing market fluctuations as opportunities, and valuing personal satisfaction over external validation. Buffett’s life, marked by continuous curiosity and intellectual growth, serves as an inspiring example of how to lead a fulfilling and vibrant life well into later years.

Transcript:

Warren Buffett, he’s more than just one of the best investors on earth.

He’s a little bit of a philosopher and he brings wonderful clarity to situations with not just wisdom, but also witticisms.

So for people approaching retirement, Austin, I’m wondering what are some of the indispensable pieces of wisdom he shared that you believe will help guide people into their retirement years?

Yeah, you know, you said it best.

Buffett is equal parts investor and philosopher.

And, you know, for anyone who thinks that his quotes on investing during retirement don’t apply to them, I mean, let’s be clear, he is one of the wealthiest individuals on earth after all and is not retired.

He’s in a different situation than the Let’s also remember that Buffett made 99% of his wealth after age 50.

So he really does understand how to invest well during, you know, the back nine in those later years, if you will.

So here are a couple of Warren Buffett quotes, not just to help you, you know, guide into retirement, but also your investments and your lifestyle in retirement as well.

So number one is the more you learn, the more you earn.

I love this one.

Buffett has always been a curious individual, and he’s here is preaching lifelong curiosity and intellectual growth, and they’re vital in keeping every facet of you healthy.

So learning new skills not only helps you get up at work today if you’re not yet retired, but it can also keep your mind healthy and sharp in retirement, which is really important.

We all want to be our best selves when we’re enjoying those best, most relaxing years of our lives.

And number two, the difference between successful people and really successful people is that really successful people say no to almost everything.

I love this one as well.

So now that you’re approaching or in retirement, look, you found success.

So preserve what you’ve earned by practicing saying no.

Don’t let other people’s demands crowd out your time for how you enjoy your retirement.

This time is yours. Learn to say no.

Number three, look at market fluctuations as your friend rather than your enemy and profit from folly rather than participating in it.

This one’s a little bit more investing centric, of course.

And hey, you may be in retirement, but market volatility sure isn’t.

And if you’re staying invested, you’ll see some wild swings and you need to not only expect them, but ride them out.

And if at all possible, and you have any capital available, invest through them and make those volatile moments your ally in retirement by earning you a greater return over the long run.

And number four, this is again back to philosopher and life question.

The big question about how people behave is whether they’ve got an inner scorecard or an outer scorecard.

And it helps if you can be satisfied with that inner scorecard.

This one, again, is it’s much more about life than investing.

But going back to quote number two, this is your retirement.

Measure it according to your own joy, hobbies, and happiness, not on the external validation of others and what they think you should be doing with your time.

Everyone has an expectation for what retirement should look like, but your retirement is yours.

And if you have that inner scorecard, you’re going to stand a much better chance of enjoying it on your own terms.

Yeah, and Austin, I think there’s some wonderful wisdom here.

You know, Buffett, he’s rich in total wealth, but he’s also lived an extremely rich life.

One thing to keep in mind, he’s 93 years old.

And to the first quote you said, still fascinated with curiosity.

His partner, Charlie Munger, just passed away at 99.

He’s a testament to us all about how you can live a very vibrant life, as you said, well into your back nine.

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