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Warren Buffett turns 92 in August. He's been on lists of the richest people in the United States, if not on Earth, for decades and has been among the top 10 in many of those years. Buffett has earned the respect of many investors not only for his long-term performance, but also for his willingness to share investing insights and advice.

Many of the lessons you can learn from Warren Buffett will come from his writings, the lengthy question-and-answer sessions at his annual meetings, and from interviews, but there's another valuable way to learn from him: his example. Here are some takeaways from how he has lived his life, plus a lesson that's arguably the most important.

First off, let's establish just how amazing the guy is, and why you might want to emulate him.

Buffett bought his company, Berkshire Hathaway, in 1965 and he increased its market value by an average annual rate of about 20% over more than 50 years. Considering that the S&P 500 has averaged only around 10% over the same period, Buffett's kind of return is enough to turn a single $100 investment into more than $900,000 over 50 years.

Here are some lessons you can take from Buffett's life and investing behaviors, many of which can help you get wealthier:

Here's one of the most important lessons to learn from Buffett's life: Start investing early.

How early? Well, Buffett was focused on getting rich very early in life, delivering hundreds of thousands of newspapers as a child and making money via other methods as well. He bought his first shares of stock at age 11.

At 91 years of age as of this writing, that means Buffett has been investing in stocks for a whopping 80 years. It would be hard for any of us to not get rich if we invested for 80 years -- even if we fell far short of Buffett's 20% gain.

Indeed, if you invested $1,000 just once some 80 years ago and it grew by 10% annually, it would increase more than 2,000-fold, becoming more than $2 million. Of course, it would total far more if you invested $1,000 every year -- you'd end up with more than $22 million.

The lesson here isn't that you need to invest for 80 years -- it's simply that you need to appreciate the power of time. This table shows how money can grow over time. You'll see that the more time money has to grow, the more powerfully it can grow. It assumes a more conservative 8% average annual growth rate than Buffett's average returns.

At an 8% Annual Growth Rate, $1,000 Will Grow to:

Data source: Calculations by author.

This table only reflects a single $1,000 investment. Make yours bigger, make it regularly, and you may amass millions.

Don't assume it's too late for you to start investing. If you're already 40, you may have 20 to 30 years ahead of you in which you can work, save, and invest. (Consider investing in low-fee, broad-market index funds, too.) Even if you're 60 and approaching retirement, you might still park a chunk of your nest egg that you won't need for at least a decade in stocks.

Buffett's example is a powerful one that can help us start investing in earnest now, with great expectations. The more you learn from Buffett, the better an investor you can be.

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Selena Maranjian has positions in Berkshire Hathaway (B shares). The Motley Fool has positions in and recommends Berkshire Hathaway (B shares). The Motley Fool recommends the following options: long January 2023 $200 calls on Berkshire Hathaway (B shares), short January 2023 $200 puts on Berkshire Hathaway (B shares), and short January 2023 $265 calls on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

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· Jimmy’s Barbershop in Allentown has moved to 822 N. 19th Street

· Air Products and Chemicals Inc.'s chosen warehouse developer, Prologis Inc., will have to wait until July 13 for a final decision by Upper Macungie Township's zoning hearing board on 2.61 million square feet of warehouses. 

· Chubby's of Southside Easton has added Krispy Krunchy Chicken to its offerings and name.

· Curaleaf Holdings Inc., which operates in the U.S. and Europe, will open a medical-marijuana dispensary at 1801 Airport Road, Hanover Township.

· Habitat for Humanity, which has "ReStores" that sell new and lightly used furniture, has leased 30,000 square feet at the South Mall.

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