2. Exercise your brain

There are a variety of ways to work your mental muscles. (Netflix, unfortunately, isn’t one of them.)

Buffett plays bridge — and it keeps him, at 88, as sharp as ever. “I play a lot,” he said in a 2017 interview with The Washington Post. “At least four sessions a week, about two hours a session.”

Munger practices “multidisciplinary thinking,” which essentially means constantly learning new perspectives of the world — and then putting them into practice.

In his speech, he argues that you can’t make smart decisions with just isolated facts. The knowledge you gather from “learning all the big ideas and all the big disciplines” will help you attack problems from different angles.

“I went through life constantly practicing this model of disciplinary approach,” he says. “I can’t tell you what that’s done for me. It’s made life more fun. It’s made me more constructive. It’s made me more helpful to others. It’s made me enormously rich.”

3. Pass on your wisdom

It’s impossible to achieve a legendary status by keeping valuable knowledge all to yourself.

According to a 2009 study published in The Journal of Science Education and Technology, teaching can also increase the motivation to learn, meaning that people who push themselves to learn with the intention to teach others have stronger communication, increased confidence and higher leadership skills. Researchers call this the “protégé effect.”

As Munger says, “the sacrifice, wisdom and value transfer that comes from one generation to the next can never be underrated.”