At the beginning of 2026, Warren Buffett – arguably one of this century’s greatest investors – officially stepped down as the CEO of his company Berkshire Hathaway. Then, in September, he made headlines again when he decided to turn over the reigns as chairman of the board to his son, Howard.
Throughout Warren Buffett’s legendary career, he was famous for regularly writing letters to the Berkshire Hathaway shareholders offering insight and encouragement against whatever might lie ahead. So for Buffett’s farewell letter, it was both heartfelt and enduring for the 96-year-old to sign-off by writing, “Father Time always wins.”
As a man who’s frequently made “Forbes Richest People in the World” list with an estimated net worth between $143 to $145 billion, this is a sobering line. Yet, itās one that nearly everyone from all economic walks of life can identify with. No matter how much money you have in the bank, we are all bound by the same limiting constraints: health, love, and time.
With those thoughts in mind, here are four takeaways inspired by Mr. Buffett’s farewell letter.
Time Is the Greatest Asset
In life, it’s easy to get caught up with the Joneses: a more expensive house, nicer car, fancier clothes, etc. Sometimes we lead ourselves astray chasing after the next bigger and better thing. However, physical possessions rarely ever bring us long-term satisfaction.
Instead, we tend to discover (usually later in life) that “time” is what we really wanted. More time with our friends, loved ones, and ourselves.
Obviously, no one can go backwards and get back time that’s already lost. However, what you can do is put systems in place to make better use of the time you have going forward.
How? One way is to focus on achieving your own financial independence. Buying assets that put money in your pocket instead of taking money out is a lesson that was popularized in the classic book “Rich Dad, Poor Dad.”
For example, consider dividend stocks. Warren Buffett famously loved them because he knew as a shareholder they provided virtually guaranteed income. Even while the markets would go up and down, Berkshire received millions of dollars in quarterly payments.
This isn’t a strategy that’s exclusive to only billionaire investors. Many brokerage accounts have $0 minimum account balances enabling you to start building your down dividend portfolio with whatever funds you have available. You could get started by going through your budget, cutting out wasteful spending, and re-routing that money into income producing funds.
With some time and discipline, those investments could snowball so large that the dividend payments might eventually replace your employment income altogether. That makes working “optional” and gives you control over what you do with your time.
Focus on Net Fulfillment, Not Net Worth
For too many of us, there is an overwhelming thirst to acquire as much money as possible in our lifetimes. While itās often done with good intentions such as providing your family with security, it may also inadvertently cause you to lose sight of what’s really important: the time you have now in the present to spend with those you care about.
This was the main idea behind the widely popular book “Die with Zero” by entrepreneur Bill Perkins. Whereas most personal finance guides encourage their readers to save and invest for the future, Perkins’ message was somewhat different: Don’t hoard your money! Instead, use that wealth to maximize life fulfillment now.
This can best be described by something Perkins calls “memory dividends.” Memory dividends are the ongoing emotional and mental payouts you receive from looking back on positive experiences. Like an investment, they compound in value the earlier you begin creating them. This is true for both you and the people you share them with.
To say it another way, don’t let money become the goal. Use it as a tool to live the life you want and share it with those you’d like to experience them with.
Health is Also Wealth
Money isn’t the only tool that can help you to make the most of the time you have. As itās often been written throughout history, “The greatest wealth is health.” Afterall, what good is money if you don’t have the ability to use it?
If you have any doubts, visit an elderly relative or friend. Something you may notice is that they often struggle with everyday routines that many younger people often take for granted. Something like walking through a large grocery store or even using the stairs in their own house may be challenging.
Good health isn’t a topic that often comes up in financial planning. However, it certainly deserves more attention than it gets. Too many people work and save their whole lives to one day retire only to find they simply aren’t physically or mentally capable to do the things they want to.
This is why itās just as important to invest in your well-being as it does your finances. Doing so might include:
- Regular physicals at the doctor
- Joining a gym and staying active
- Being mindful of how much or often you move – especially if you have a desk job that involves a lot of sitting
- Conversations with other people to keep your social acuity sharp
- Not ignoring warning signs from your body and taking action if something doesn’t seem right
Just like financial planning, good habits now can compound into future quality years. It starts by making them a priority now and enabling yourself to live the life you were meant to enjoy.
Shape How You’ll Be Remembered
Father time may come for us all. But your legacy doesn’t have to end with you. One way to defy time’s grasp is to live on in a positive light within the minds of those you’ve touched.
Again, think back to Perkins’ concept of memory dividends. Rather than waiting until you’re gone to pass on a windfall, why not be generous with your money now? Not only will it mean more to those you share it with, but you’ll also get the benefit of seeing the joy on the faces of your family and friends as you share the good times together.
However, this step goes beyond just what you do with your money. It also extends to the way you see and treat other people. In turn, this shapes how they perceive you. To better understand this concept, psychologists often recommend an exercise that involves writing your own eulogy.
Start by asking questions such as:
- How would you want others to remember you? How would they describe the way you made them feel?
- What would people say you stood for? What was important in your life?
- Would there be any mechanisms in place to carry on your memory such as a scholarship fund or business you started?
The idea is to take these insights and then translate them into action. For example, if the thought of an annual scholarship sounds like something you’d like to offer, then start taking steps with professionals now to put the legal structure in place.
The Bottom Line
You don’t have to be a billionaire, legendary investor to know that your time on this Earth is limited. Invest in yourself to create income and good health that will allow you to live your best life. Share those experiences with those you care about and let the good memories compound indefinitely.
Featured image: Pexels
