If investors are worried about their retirement savings after watching 2016's wild market fluctuations, Warren Buffett has some advice.
"I would tell them don't watch the market closely," the Oracle of Omaha said. The billionaire and philanthropist who has amassed a fortune of more than $64 billion tells CNBC's "On The Money" that buy-and-hold is the best strategy.
"The money is made in investments by investing," Buffett said in a recent interview, "and by owning good companies for long periods of time. If they buy good companies, buy them over time, they're going to do fine 10, 20, 30 years from now."
Despite a whipsaw market unnerved by everything from China's economy to the Federal Reserve's interest rate policy warns individual investors against making a lot of stock moves with their portfolio.
"If they're trying to buy and sell stocks, and worry when they go down a little bit … and think they should maybe they should sell them when the go up, they're not going to have very good results," Buffett said.