Warren Buffett's life advice may be more valuable than his portfolio

In his latest letter, the Oracle of Omaha shares his insight on how to leave behind a strong family and a lasting legacy.

- Beth Kowitt

On Nov 25, Mr. Warren Buffett announced that he was donating more than US$1 billion (S$1.34 billion) in Berkshire Hathaway shares to four family foundations—a continuation of his commitment to give away the vast majority of his wealth to charity rather than pass it on to his family.

With the announcement, Mr. Buffett put out a memo that was less about the nuts and bolts of the donation than the importance of getting your affairs in order at the end of your life. Close readers of Mr. Buffett know that this is his MO. Below the surface, his musings are often steeped with advice about leadership and management.

But at 94, Mr. Buffett is clearly thinking about his mortality and acknowledges that "father time always wins." More than ever, he seems determined to pass on not just lessons about what makes a good investment, but what makes a good life.