Warren Buffett once told a group of students that they won't measure success by how much money they have

On the flip side, social support and frequent interactions with other people were not the only factors determining life satisfaction. Another study published in the Journal of Advanced Nursing (3) found that poverty had negative mental health impacts on elderly people as they struggled to meet their basic needs.

Simply put, Buffett is correct in that money isn’t everything. However, it’s still a vital ingredient for a long, fulfilling life. For example, being able to retire on your terms is a key part of enjoying your golden years.

With that in mind, investing and building your long-term wealth is actually an important goal — just don’t forget to build friendships and social connections while you do it.

Read more: US car insurance costs have surged 50% from 2020 to 2024 — this simple 2-minute check could put hundreds back in your pocket

Can money buy (some) happiness?

Studies by Nobel Prize-winning economist Daniel Kahneman and happiness researcher Matthew Killingsworth have established a link (4) between wealth and overall life satisfaction. Earning more money, they found, tended to make people happier.

For people seeking more satisfaction in their lives, they could still follow Buffett’s principles on wealth-building. The Oracle of Omaha’s frugal spending habits, focus on long-term investments, diversification, avoidance of debt and value-oriented investment strategies could help many people accumulate sizable fortunes over time — especially if they start young.

But you don’t need to be an investing guru to start amassing capital. For example, Buffett swears by low-cost index funds, such as an S&P 500 index fund.

“In my view, for most people, the best thing to do is own the S&P 500 index fund,” Buffett stated during Berkshire Hathaway’s 2020 annual shareholders meeting.

He also goes on to say that timing the markets isn’t an effective strategy. Instead, what works is consistently investing in an index fund over a 30-year horizon, regardless of the stock market fluctuations.

You don’t need to invest thousands of dollars in an index fund to reap the benefits — you can start with something as small as spare change from everyday purchases. For instance, if you invest just $30 each week for 20 years, you’d end up with a balance of $93,660, assuming it compounds at 10% annually. (5) This isn’t unachievable — the S&P 500 index has generated 10.56% average annual returns since 1957. (6)

If you want to get started investing, working with a robo-advisor tailored to your risk tolerance could be a good place to start. One option is to turn everyday purchases into an investing opportunity with Acorns.

Acorns rounds up your everyday purchases to the nearest dollar and invests the difference into diversified low-cost index ETFs. So, when you buy a coffee for $4.25, Acorns automatically invests the $0.75 difference into a smart investment portfolio.

If you want to double down on your investments, Acorns also lets you set up monthly recurring contributions for your portfolio.

Even better, you can get a $20 bonus investment to kickstart your investing journey when you sign up with Acorns and establish a monthly deposit.

Of course, Buffett’s investments go beyond just index funds. However, his portfolio is concentrated in just 41 stocks (as of the second quarter of 2025) — underscoring the importance of picking your stocks with care. (7)

But for most investors, it can be difficult to identify value stocks with precision. Fortunately, you can get advice from hedge fund analysts, thanks to platforms like Moby.

Moby’s team of former hedge fund analysts and experts spend hundreds of hours each week sifting through financial news and data to provide you with breaking stock recommendations. And if you sign up for Moby Premium you get one free top-stock.

Moby’s success speaks for itself. The platform’s stock picks have outperformed the S&P 500 index by about 11.9% over the past four years.

Even better, Moby offers a 30-day money-back guarantee so you can see if the service is right for you.

If you’re worried about stock market volatility, you could instead look into alternative asset classes, such as real estate.

Over time, real estate values tend to go up, especially in growing cities, and can be relatively resistant to inflation and recession. They can also generate passive income.

“[If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I’ll write you a check, it’s very simple,” Buffett remarked during Berkshire Hathaway’s 2022 annual shareholders meeting.

The reason is simple — “The apartments are going to produce rent.”

But real estate investments are more complicated than you might realize. If you want to be a landlord, you need to think about finding reliable tenants, paying for property taxes and general upkeep, as well as being the go-to person to fix issues like broken light fixtures or burst pipes.

If this seems like too much to take on, you might consider investing in real estate through crowdfunding platforms like Arrived.

Backed by world-class investors like Jeff Bezos, Arrived helps you buy into shares of prime residential real estate and vacation rentals across the country. It’s also easy to build up steam since you can get started with just $100.

Arrived manages everything for you — from property taxes to finding reliable tenants — so you can sit back and relax. And any rental income generated by the property is distributed to shareholders monthly, helping you set up a source of passive income.

Plus, after the investment hold period ends, any capital appreciation of the property will be passed on to you through capital gains distributions.

But the real estate market can fluctuate, too. If you want to capitalize on the growth opportunities while hedging against broader risks, you could tap into the $34.9 trillion U.S. home equity market instead.

Those who have the capital on hand can consider investing in Homeshares U.S. Home Equity Fund.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted target returns ranging from 14% to 17%, this approach can provide an effective, hands-off way to invest in owner-occupied residential properties across regional markets.