Billionaire investor Warren Buffett's advice to "hang out with people better than you" is shaping how leaders and professionals approach success in 2025.
Buffett's Advice On Success And Leadership
At the 2004 Berkshire Hathaway Inc. (NYSE:BRK) (NYSE:BRK.B) annual meeting in Omaha, a young attendee asked Buffett for guidance on achieving success, as reported by Inc.
The billionaire investor's response was strikingly simple: “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,” Buffett said.
Charlie Munger On Choosing The Right Associates
His longtime partner, Charlie Munger, added bluntly, "If this gives you a little temporary unpopularity with your peer group, the hell with 'em."
Buffett emphasized that success isn't just about financial gains. Integrity, focus, and continuous learning are essential traits in the people you choose to surround yourself with.
"You're looking for three things in a person: intelligence, energy, and integrity. And if they don't have the last one, don't even bother with the first two," he noted.
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Buffett's Top Financial Tips For The Middle Class And Long-Term Wealth
Buffett once shared his top financial advice for the middle class, focusing on simplicity and long-term stability.
He emphasized "paying yourself first," advising people to set aside money for savings and investments before spending. At a Berkshire Hathaway annual meeting, he said, "Do not save what is left after spending, but spend what is left after saving."
Buffett also recommended cutting unnecessary expenses, living on a lean budget, and investing consistently in a low-cost S&P 500 index fund.
He told investors, "Consistently buy an S&P 500 low-cost index fund. Keep buying it through thick and thin, and especially through thin."
People have long wondered if Buffett's approach could simply be copied. Even Amazon.com Inc. (NASDAQ:AMZN) founder Jeff Bezos asked him that question.
Airbnb Inc. (NASDAQ:ABNB) CEO Brian Chesky shared a story on “The Carlos Watson Show,” recalling a lunch at Sundance with both Buffett and Bezos.
Chesky, then a 31-year-old newcomer to tech, asked Bezos about Buffett's best advice. Bezos recounted asking Buffett why no one copied his simple investment strategy, to which Buffett replied, "Because no one wants to get rich slow."
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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