The Buffett Philosophy

One person who absolutely fascinates me from a philosophical perspective who isn’t known as a philosophical person is Warren Buffett. Mr. Buffett is known for being a legendary investor and the richest man in the world (at times). The abundance that Mr. Buffett has created and the success that he has had in business is something that triggers my great interest in how he thinks and what drives him forward every day. I’ve seen a number of interviews Mr. Buffett has given and it’s clear that he does not think nor is he motivated like the average person.

Regardless of the fact that Mr. Buffett is worth tens of billions of dollars he still lives in the same house in Omaha, Nebraska that he’s lived in for decades. Mr. Buffet drives used cars that his daughter helps him to purchase. He stops at McDonald’s on the way to his company’s (Berkshire Hathaway) office each morning and pays cash (exact change!) for a coffee and a breakfast sandwich. These types of habits boggle the mind given the resources Warren Buffett has access to. He could be living in the finest penthouse in the sky in New York, with chefs cooking all his meals daily and with a chauffeured car to take him wherever he wants to go. But he doesn’t and the reason why makes perfect sense.

Based on the statements I’ve seen Mr. Buffett make the core of his life philosophy is this. Mr. Buffett does what makes him happy. When discussing his house Mr. Buffett has stated that he has no reason to move because his house meets all of his needs. Mr. Buffett has stated that he has been in the homes of other very wealthy people who have large mansions with many staff members and he doesn’t think he’d be any happier with that kind of lifestyle. In fact, Mr. Buffett has stated that such a life would likely add unnecessary problems. Such an outlook on life is incredibly refreshing and offers some valuable lessons for everyone else.

It is clear that Warren Buffett is grateful for what he has and not upset about what he doesn’t have. With his wealth Warren Buffett could have almost anything of material value but sometimes people with great wealth will think up desires that are out of their reach and let the perception of being deprived negatively impact their outlook on life. By focusing on things that he enjoys and that make him happy Mr. Buffett is rejecting the accumulation rat race that most American’s, especially very wealthy ones, are a part of. They say that money can’t buy happiness but people will often turn money into possessions in order to raise their status in the eyes of others in the hopes of becoming happier.

A very wise friend once said to me something like this. It’s not what you have in life that counts. It’s how you feel about what you have that counts. I have found this to be true. At the time in my life when I had the most I was not at my happiest. I do not blame all that I had for that, but rather, I blame my state of mind. In my mind it was all about the things I was still yet to acquire or achieve and I really could not think straight. Hence, I was beginning to learn that accumulating possessions and wealth was not the key to inner peace.

Warren Buffett’s unique philosophy is one worth emulating. Use happiness as the measuring stick for the value of major life changes and decisions around money. Ask yourself, “Will doing this make me any happier?” Give yourself time to think about it too. Ultimately I believe such an approach will help you to lead your best life and not the life that everyone else expects of you.