One rule to happiness is living a life of contentment.
We live in a time where people give more significance to material things like fame, cars, houses, money and social influence.
Sometimes, people with so much can become unhappy, some fall into depression, some commit suicide while others wish to find happiness someday.
So, I ask, what is true happiness? Why is life still complicated despite all the possessions?
Contentment is the ability for one to find joy in what one already has in his or her life, feeling or showing satisfaction with present possessions, status, or situation. It is the state of being happy without trying to find fulfillment in acquiring more material possession.
Contentment is not complacency; it doesn’t mean one shouldn’t want more or strive for more. Contentment is living a minimal life even while everything is available, contentment is being satisfied with what you have while seeking more. Contentment is gratitude, appreciation, acceptance and satisfaction with what you have, who you are and where you are.
Attributes of Contentment
Contentment is a lifestyle, a life of contentment have certain attributes which are:
- Lack of pride – a contented lifestyle comes with living minimally and humbly. Someone who is content will always learn to respect others’ status and achievements.
- Inner satisfaction – contentment brews up inner satisfaction because one’s happiness wouldn’t be tied to any achievement, ambition or possessions. With contentment happiness comes from within hence inner satisfaction is attainable
- Greed and envy free – inner satisfaction detest greed and envy. When you know goals are attainable and everything comes with time, if one is putting in the work, greed and envy would not be an option. Greed and envy is a sign of not being content with life.
Now, Let’s look into the life of WARREN BUFFETT, a man who has shown contentment.
BIOGRAPHY OF WARREN BUFFETT
Buffett was born to Howard and Leila Buffett on August 30, 1930, in Omaha, Nebraska. He was the second of three children. His father was a stockbroker and four-term United States congressman.
Making money was an early interest for Buffett, he sold soft drinks and had a paper route. When he was 14 years old, he invested the earnings from these endeavors in 40 acres of land, which he then rented for a profit.
At his father’s urging, he applied to the University of Pennsylvania and was accepted. Unimpressed, Buffett left after two years, transferring to the University of Nebraska. Upon graduation, his father once again convinced him of the value of education, encouraging him to pursue a graduate degree.
Harvard rejected Buffett, but Columbia accepted him. Buffett studied under Benjamin Graham, the father of value investing.
After graduation, Graham refused to hire Buffett, even suggesting that he avoid a career on Wall Street. Graham had a change of heart and offered Buffett a job in New York.
HOW WARREN BUFFETT MADE FORTUNES
Buffett had the interest to expand on the investment theories he had heard from Graham at Columbia once he arrived in New York. Graham advocated value investing, which meant looking for stocks that were trading at a significant discount to the true worth of the underlying assets.
Buffett internalized the idea but was eager to develop it further. Unlike Graham, he preferred to look beyond the figures and concentrate on the leadership of the business and the competitive advantage of its product in the market.
In 1956, he returned to Omaha, founded Buffett Associates, Ltd., and bought a house. In 1962, at the age of 30, and when he was already wealthy, he partnered with Charlie Munger. He often bought the businesses outright, leaving their management teams in charge of running the day-to-day operations.
Some of the more well-known companies that fall into this category are GEICO Auto Insurance, Dairy Queen, The Pampered Chef, Fruit of the Loom, See’s Candies, and Fruit of the Loom.p until the popularity of technology stocks, Buffett’s aura stayed intact.
Buffett abstained from the spectacular run-up in technology companies in the late 1990s because he is a staunchly anti-technophobe. As a result of sticking to his principles and declining to invest in businesses that didn’t match his criteria, Buffett attracted the ire of Wall Street insiders and was dismissed by many as a man beyond his prime.
Many of those specialists went bankrupt due to the tech disaster that followed the collapse of the dotcom bubble. Profits for Buffett increased by double.
THE CONTENTED LIFESTYLE OF WARREN BUFFETT
Warren Buffett is the eight most richest man in the world with a net-worth of about 125 million dollars. Warren Buffett has been the CEO of Berkshire for over 40 years and his wealth of investment has gained him the nickname “Oracle of Omaha ”.
Despite all his Wealth, influence and global records, Warren Buffett has not moved out of the house he bought since 1958.
Warren’s house in Omaha, Nebraska was purchased at $31,500 in 1958 now worth over $136,000. Unlike the cliche of wealthy people living in luxury and changing apartments, Warren saw housing as a means of investment.
Warren Buffett says that the house he lives in today is the third-best investment of his life. His statement concerning his house is ” I’m happy there. I’d move if I thought I’d be happier someplace else.”
Being a Billionaire, CEO, Investor and Entrepreneur did not deprive him from enjoying the regular hobbies. Warren Buffett still has the time to play instruments, play bridges and have fun. Warren’s hobbies are affordable and simple.
Warren’s global status doesn’t deprive him of valuing relationships. Warren treats his friends with respect and so much love. An example of his friendly lifestyle is with Bill gates. “Warren drives personally to the airport to pick me up” as described by Bill gate. Warren values relationships over material things.
Warren Buffett doesn’t pay high prices for his gourmet or visit the most expensive restaurant in the city to take brunch, so he can prove how rich he is rather he opt in for daily cheap breakfast. Buffett explained his diet in a 2015 interview with Fortune: “I checked the actuarial tables, and the lowest death rate is among 6-year-olds. So I decided to eat like a 6-year-old. It’s the safest course I can take.”
The cars Warren Buffett drives are cheap in price. No luxury cars, no new model cars rather he chose to ride the modest car. Warren told Forbes in 2014 “The truth is, I only drive about 3,500 miles a year so I will buy a new car very infrequently,”
Warren Buffett doesn’t wear designer suits or shoes, his outfits are from his personal tailor; a Chinese Entrepreneur.
Lastly, Warren Buffett is above 90 years, he is still dedicated to philanthropy. He has also announced that he will give out 99% of his wealth posthumously.
LIFE LESSON FROM WARREN BUFFETT
- Seek long term gains rather than short term gratification. Warren Buffett has a long term mentality in his personal finance, he considers what will give him a long term gain.
- Warren Buffett lifestyle shows that lifestyle inflation is not necessary, don’t upgrade possessions unless you have to.
- Don’t attach your happiness and sense of being to material things.
- Give back to the society by prioritizing giving to people.
- Lead a simple life and invest early.
- Go for what you want, don’t live to impress others.
In conclusion, contentment is a virtue and a life skill. When we are content, we are free. We are free of worry and anxiety over material things. We feel a deeper connection with the people around us, seeing them through contented eyes—not judging, but appreciating their uniquely human qualities.