'Money has no utility to me': Warren Buffett says having more houses or a boat means nothing to him — here's 1 thing he values more than money and how you can use it, too
Warren Buffett, one of the richest men on the planet, once said: “Money has no utility to me. Time has utility to me.”
In a 2016 interview on Bloomberg’s The David Rubenstein Show: Peer-to-Peer Conversations, the Berkshire Hathaway chairman said if there were anything on his bucket list, he would have done it already.
“Money in terms of making trips or owning more houses or having a boat or something — it has no utility to me whatsoever.”
That's quite a statement coming from a man whose net worth, at last check, was sitting at more than $100 billion.
But Buffett insisted that what he truly values is the time he has left.
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Aged 86 and still working hard at the time of the interview, Buffett chuckled at the idea of doing things many people his age do such as relax, play shuffleboard and enjoy retirement.
“They spend all week planning their haircut, usually,” he laughed. “I get to do, everyday, what I love with people that I love. It doesn’t get any better than that.”
The business juggernaut admitted his greatest pleasures in life are running his business, making winning investments and, of course, spending time with his family.
He said he views his life-long enterprise Berkshire Hathaway “like a painter regards a painting — the difference being that the canvas is unlimited. There’s no finish line at Berkshire and it’s a game that you can continue to play.”
Winning at the game of life doesn't necessarily mean you have to earn billions and run a business empire like Buffett. Here are some other ways you can turn time to your advantage.
Money can buy you time
Buffett said “money has no utility” for him, but he understands how it does for the average American who might not want to work until they’re 93 years old like him.
If you save and invest your money wisely during your working life — by making the most of high-interest saving accounts, tax-advantaged investment accounts, like a 401(k) or an individual retirement account (IRA), and diversifying your investment portfolio with traditional stocks and bonds and real estate — you can set yourself up for success in retirement.
Ideally, that means you can enjoy free time in your golden years to do the things you love with the people you love.