Stephen Colbert Gives Great Life Advice During Hilarious Commencement Speech

"I hope you find the courage to decide for yourself what is right and what is wrong."

Is this what we can expect from the new Late Show host?

Stephen Colbert -- who will be replacing David Letterman on the CBS late-night talk show in September -- brought a lot of laughs during his Monday commencement address to the graduates of North Carolina's Wake Forest University.

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The Emmy winner left his Comedy Central show, The Colbert Report, this past year, and used his experience to impart wisdom to the student body -- in a joking manner of course.

"I just spent many years learning to do one thing really well. I got so comfortable with that place, that role, those responsibilities, that it came to define how I saw myself; but now part of my life is over," Colbert said. "It's time to say goodbye to the person we've become …and to make some crucial decisions in becoming who we're going to be. For me, I'll have to figure out how to do an hour-long show every night. And you at some point will have to sleep. I am told the Adderall wears off eventually."

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The 51-year-old comedian also proved that he's still in touch with what's trending with the young people by making reference to the social networking controversy #TheDress that occurred in February.

"Congratulations to you, the class of 2015. You did it and you look amazing. Although it's a little embarrassing you all showed up in the same outfit. Really, even all of the accessories are the same," he said in his introduction. "Everyone has a black and gold tassel -- or is it blue and white? Grandparents, just know this was the issue that divided a generation. You had the Vietnam War, your grandchildren had an ambiguously colored Tumblr post."

All jokes aside, Colbert did have some inspiring antidotes for the graduates. "I hope you find the courage to decide for yourself what is right and what is wrong, and then please, expect as much of the world around you," he said. "Try to make the world good according to your standards."

"People my age will sometimes say to you, 'Hey, that work you did, that thing you said, that cause you championed -- it's not good,'" he continued. "Having your own standards will help you weather moments like that ...[and will allow] you to perceive success where others may see failure."