SINGAPORE: If you want to be a millionaire by 32, then Uncle Warren has some sage advice, and spoiler alert: It’s not just about being a genius or working 20-hour days. It’s about who you hang around with.
Warren Buffett—the Oracle of Omaha, a man with a net worth that makes Toto jackpots look like loose change—shared with CBS News that the real secret sauce to success isn’t complicated at all: “Figure out what your strengths are and then pick the right people and don’t be afraid of making mistakes,” he said.
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(@cbssundaymorning)The 95-year-old investing legend and retiring CEO of Berkshire Hathaway didn’t hand Gen Z a step-by-step crypto playbook or a viral TikTok hustle. Instead, he offered something rarer: Financial wisdom that’s actually stood the test of time.
Buffett’s journey began humbly, selling Coca-Cola bottles door-to-door. That early hustle eventually turned into a million-dollar net worth by the age of 32—equivalent to about S$13.7 million today. Sure, he used to drink five cans of Coke a day, though he’s cut that down to two now, and we’re certainly not recommending any of this part, but the key takeaway here isn’t about sugar; it’s about strategy.
Pick your crew wisely
Buffett believes the real game-changer in life and business is choosing the right people to be around. So instead of wasting your time and life with some Tom, Dick, and Harry just because they have a LinkedIn profile somewhere, look for those who possess these three key traits: intelligence, energy, and integrity.
“Marrying someone to change them is crazy, and hiring somebody to change them is just as crazy. And becoming partners with them to change them is [also] crazy,” Buffett famously told Fortune.
This isn’t just empty theory. His long-time business partner, the late Charlie Munger, exemplified this principle. Munger wasn’t just Buffett’s vice chairman—he was his thought partner, devil’s advocate, and closest friend for over four decades.
“Every time I’m with Charlie, I’ve got at least some new slant on an idea that causes me to rethink certain things,” Buffett told CNBC. “We’ve had so much fun in the partnership over the years.”
And the result was: Billions! Literally!
Invest in yourself, not just stocks
Buffett may have built Berkshire Hathaway into a global powerhouse, but his biggest advice isn’t about portfolio diversification. It’s personal development.
“Invest in yourself,” he told Fortune, adding that it’s the one investment no one can tax or take away.
In other words, take that SkillsFuture credit seriously. Learn, grow, and build up your unique edge.
Cautionary tales and examples of choosing the wrong people or team
On the flip side, Buffett’s people-first philosophy also serves as a warning. Just look at the meteoric rise—and crash—of crypto poster boy Sam Bankman-Fried. At one point, he was hailed as the future of finance. Today, FTX is bankrupt, and trust has gone MIA.
Right talent (maybe), wrong values (definitely): That’s a financial ticking bomb and landmine!
Your success story may not look like Warren’s—but that’s okay because…
If you’re not so keen on doing door-to-door sales like what Buffett did, it’s really not a problem at all, as the billionaire reminds us that everyone’s path is different.
Bill Gates developed a traffic-monitoring software. Jeff Bezos flipped burgers at McDonald’s. MrBeast (Jimmy Donaldson) uploaded Minecraft and Call of Duty YouTube videos. So you see, the path to wealth isn’t linear—it’s a “choose your own adventure” novel, with detours, dead ends, and comebacks.
Failures will happen. What separates the future millionaires from the rest is the bounce-back mindset.
For Singaporeans, it hits home too
In a society where who you “know” can open more doors than what you “score” in exams, Buffett’s advice resonates. Whether you’re building a startup in JTC LaunchPad, running a side hustle on Carousell, or coding your first app from an HDB flat in Woodlands, your network can be your net worth.
And maybe, your next Charlie Munger is already in your WhatsApp chat group. Who knows, right? You never know…
Moral of the story
Stay curious. Choose partners wisely. Don’t fear mistakes. And above all—invest in yourself.
Because, as Uncle Warren reminds us: “The key to getting rich is the people you keep around you.”
