Warren Buffett steps down as Berkshire Hathaway CEO after six decades

Post by throwmeoutplzdo » Thu, Jan 01, 2026, 7:40 AM UTC

pm90 wrote: post #365

_heimdall wrote: post #334

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Avoiding scaling your lifestyle with tour current wealth seems like an extremely important lesson people could learn here. Very few people know what "enough" means to them. Its probably worth noting that I mean "enough" in the context of consumption and physical goods. "Enough" wealth doesn't really matter, its only a number in a database or a piece of paper until you spend it.

To a certain extent this is true. You shouldn’t be going into debt just because your income level allows you to get more loans etc. But once you reach a certain income threshold it doesn’t really matter. So what was the point of him living a frugal, simple lifestyle? I would argue that its just something he was used to and found joy in, and thats ok. Some people like that. Others might want to use their money to unlo…

Post by kamaal » Thu, Jan 01, 2026, 7:46 AM UTC

hn_throwaway_99 wrote: post #360

kamaal wrote: post #286

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>>Here are some things Buffet has done that I admire (notice that phrasing): Perhaps the best thing Buffet has managed to do is to live long. Most of compounding magic begins at ages 60-65, a time where most investors start to die out. Second best thing he did was to start/acquire a insurance firm. The 'float' helps them to run a kind of in house index fund on other peoples money, without having to pay TERs/Fees. Tha…

> Most of compounding magic begins at ages 60-65, a time where most investors start to die out. Percentage-wise, few wealthy investors are dying out at ages of 60-65. In the US, males that make it to age 60 have a life expectancy of 81-82. But that's across all men - life expectancy is strongly correlated with wealth in the US, so a man in the top 1% could very reasonably expect to live to very late 80s/90s. Nevermin…

Post by userbinator » Thu, Jan 01, 2026, 7:55 AM UTC

chihuahua wrote: post #250

wickedsight wrote: post #244

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> - He still lives in the same home he bought when he was 28 years old. Really makes me wonder what drives him. For many people it's the money, but with him it doesn't seem that way. But I haven't read too much about him, so if anyone has insight I'd love to hear about it.

For some people, money is not for buying things, but just for keeping score. That can make it rewarding and addictive to accumulate money, even if you don't buy anything (like a giant house) with it. The score keeping aspect makes it interesting, just like playing tennis while keeping score is more interesting than just hitting a ball back and forth across the net without counting.

Post by globular-toast » Thu, Jan 01, 2026, 7:57 AM UTC

scott_w wrote: post #370

rhubarbtree wrote: post #248

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Disagree. The last one is important. You can buy a bigger and bigger house car tv stereo whatever, but it will not make you happy.

That’s because you haven’t tried buying better bicycles. I assure you that every new bike I buy makes me happier.

Post by satvikpendem » Thu, Jan 01, 2026, 7:58 AM UTC

ip26 wrote: post #312

Cheezmeister wrote: post #51

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This. The work/retirement dichotomy is such a weird and peculiar artifact of the 1950s US middle-class nuclear-family milieu. That's gone. For the rest of us, it's just...live your life, until you don't. (viz. Below the fold: "Buffett remains as chair...")

Peculiar artifact? Are you forgetting all the people who retired from mining coal, building cars, or running plumbing? It's not weird that seventy year olds would prefer to stop doing those things. I don't know that many people who would claim blasting ore underground is their enjoyment.