If you've been in the same industry for decades, changing careers might seem daunting. But, for many recovering executives, nonprofits, career coaching or making a clean break are all real options.

Golfing and gardening aren't as enticing as they once were. While baby boomers are increasingly becoming eligible for Social Security benefits, so far it seems that few are actually putting their working lives to bed. According to an AARP survey, 79% of baby boomers plan to work in some capacity into their retirement years.

But not all fiftysomething executives want to stay in the jobs, or industries, they spent most of their careers. Many are opting to step back from the long hours and stress of managerial roles in their golden years in favor of new and less time-consuming jobs.

A decade ago, Arnie Cogan, 64, exchanged a suit and tie, and a pay package that topped $300,000 a year, for a flight attendant uniform and starting salary of about $20,000 a year at Southwest Airlines. He now works as an in-flight supervisor for the company at its Phoenix airport. "It's been the best job that I've ever had," says Mr. Cogan, who previously worked as vice president of a graphic arts supply company. In his vice president role, Mr. Cogan worked 60 hours a week and frequently attended dinner meetings. As a flight attendant he worked 30 hours a week, and in his new role he works 40 hours a week. For seasoned executives like Mr. Cogan, a slower lifestyle and less stress can trump a big

The headline here isn't newsworthy. We know Warren Buffett is a better investor than the rest of us. His incredible long-term track record at Berkshire Hathaway, and his avoidance of both the 2000 tech meltdown and the current subprime crisis, prove that.

The question is: Why?

And, perhaps, "how?"
There's one person in this world well-equipped to answer that question: Buffett's longtime friend and business partner Charlie Munger. Happily for us, Charlie likes to talk -- and he addressed this very question last year.

Munger's remarks at last year's Wesco Financial annual meeting are wide-ranging and worth reading in their entirety. But boiled down, Munger gave seven reasons why Buffett is a better investor than you:

1. He's smart, and he puts his intelligence to good use.

2. He has an unflagging interest in investing.

3. He started learning about investing early, when he was 10.

4. He's a "good learning machine," and he keeps on learning.

5. He has enormous experience in the subject and practices daily.