Jeff Bezos says having a 7-year plan over a 3-year plan can be the key to success. Here’s why billionaires favor long-term plans

"(Buffett) said, 'Jeff, that's easy, my approach is a get-rich slowly scheme. And people don't like those'," Bezos recalled, with a laugh. "But there's a lot of truth in that for everything."

He pointed to a simple example, suggesting that investors who think in terms of seven years rather than three can gain an edge over their contemporaries in the investment game.

What the 'get-rich slowly' mindset means for investors

When Bezos brought up Buffett's line, he wasn't just talking about patience in the abstract. He was highlighting a competitive advantage most investors ignore.

The Blue Origin founder was in Miami in November 2025 discussing his latest project, but his answer to Suarez's question tracked directly back to what made Amazon successful in the first place: customer obsession, an eagerness to invent, taking pride in operational excellence and, above all, long-term thinking.

That last point was where Buffett's patience comes into play. Both men have built fortunes by resisting the urge to chase quick wins. Instead, they focus on decisions that may take years to pay off but compound over time.

Bezos started Amazon in July 1994 in his Bellevue, Washington, home's garage with just $10,000 (2). Buffett has amassed his $150-billion net worth (3) through value investing, which is buying undervalued companies and holding onto them for the long term, and living a frugal lifestyle.

"If you can defer gratification and think long term, that will give you a head start against all of your competitors because most people can't do that," Bezos said.

How to apply Warren Buffett's long-term strategy

Bezos' pivot from thinking in the short-term to the long-term allows investors to extend their own timelines. Instead of thinking within three years, the longer your plan, the less short-term volatility matters. That's the strategy Buffett has employed throughout his career.

"When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever," Buffett once wrote in a letter to shareholders in Berkshire Hathaway's 1988 annual report.