Warren Buffet is a living inspiration on both worlds of wealth and true wealth.

Warren Buffett always makes headlines during Berkshire Hathaway's Annual Shareholder Meeting. But the 2025 edition wasn't just noteworthy for Buffett's views on the markets. The 94-year-old "Oracle of Omaha" announced that he was asking the Berkshire board to vote for his successor by the end of the year. While Buffett will retain his role as chairman, he's ending his six-decade run as CEO of one of the most valuable companies in the world.

Despite his enormous wealth, Buffett famously lives a frugal life and followed common-sense principles as an investor and as a leader. These three quotes should remind us all that success in life is much bigger than our bank balances.

1. "We enjoy the process far more than the proceeds." (Steady Investment & Long‑Term Improvement)

Buffett and his longtime business partner, Charlie Munger, were never in a hurry. They believed in steady investment in "wonderful" companies, such as Apple and Coca-Cola. They also made time for self-improvement, reading for several hours every day.

In your own career, it can be very easy to get caught up in ends: a promotion, a higher salary, a bigger house, a "retirement number" that you need to hit. But if you're not enjoying yourself along the way, it's likely those ends won't fulfill you either. Whether you need to make a career change or set short-term goals that can lead to long-term improvement or experimenting with mini-retirement, focus on the habits and rhythms that bring meaning along the way.

2. "It's better to hang out with people better than you. Pick out associates whose behavior is better than yours and you'll drift in that direction." (Support and Accountability)

This was Buffett’s answer to a teenager who asked for life advice at the 2004 Berkshire Hathaway Shareholder Meeting.

Added Charlie Munger, “If this gives you a little temporary unpopularity with your peer group, the hell with 'em.”

Many successful business leaders echo Buffett’s sentiment by saying they never want to be the smartest person in the room. They hire the best people and consult with experienced coaches or mentors so that there’s always someone pushing them – and their organizations – forward.

We can create similar circles of support and accountability in our personal lives as well. Share your goals with someone you can count on to give you the daily nudges you’ll need to make progress, like your spouse or a close friend. Invest more of your time in relationships that are lifting you up, and try to be that source of positivity for struggling friends and family who might need a hand. 

Successful leaders hire upward and stay coached. Similarly, personal growth often requires a circle of accountability.

Whether you're reaching out to peers, hiring a coach, or working with a financial advisor, building a network of support and accountability accelerates progress. That aligns with how we help clients set daily action steps, from better budgeting to designing lifestyle transitions, wherein every detail counts.

3. "If you get to my age in life and nobody thinks well of you, I don't care how big your bank account is, your life is a disaster." (Legacy You Want to Leave Behind)

In 2001, Buffett told a group of students that he knows too many people “who have a lot of money, and they get testimonial dinners, and they get hospital wings named after them. But the truth is that nobody in the world loves them.”

That human deficit can feel especially painful in retirement. Once you stop working, and as you age into your golden years, your connections to people are going to become more and more important. If you haven’t invested as much in your relationships as you have in your career or finances, you could find yourself facing a whole lot of free time and no one to spend it with.

Based on these and other thoughts he’s shared over the years, Warren Buffett’s success has helped him to appreciate what true wealth really means. No matter what size your nest egg is, Life-Centered Financial Planning can help you achieve that same clarity around what your money is for and what kind of legacy you want to leave behind.

Buffett’s words highlight that a legacy is about character—not just cash. Especially during retirement, relationships and purpose matter more than assets.

That’s why we emphasize blending financial planning with meaning. It’s about funding your life, not just funding a nest egg. When shaping the legacy you want to leave behind, consider how community involvement, mentoring or even starting your own consulting firm become part of your impact story.

A Life Lesson About True Wealth

Warren Buffett’s wealth may be legendary, but his wisdom reminds us that true wealth is built over decades, measured in relationships, impact, and integrity—not just money.

No matter the size of your net worth, a Life-Centered Financial Plan can help you define purpose-driven goals, build long-term stability, and clarify what you want your legacy to look like—aligned with insights we’ve shared in on investment strategy and on balancing life goals. Also consider this: True wealth management includes both asset growth and protection.

If this blog sparked a desire in you to rethink how you're spending your time and planning your future, you're not alone. At LI Wealth Management, we're here to help you align your financial decisions with what matters most to you. Visit our website to learn more about how we guide individuals toward a life of purpose and balance — and when you're ready, book a call to take the first step.