"Hey Mel-Mels, when you look back at your life, do you think you'll have any regrets?" Colbert asked as the two laid side-by-side staring up into the (fake) night sky.
"No," Gibson said after a moment's pause. "No, not one. [Because] they tend to come in clusters."
It's clear that the 60-year-old star, whose working on rebuilding his image with his latest directorial effort Hacksaw Ridge, hasn't lost the comedic timing that made him one of the biggest leading men in Hollywood, years ago.
Colbert also asked Gibson what he would tell his younger self, if he could go back in time. And Gibson had a wealth of good advice.
"Don't be so caught up in the little things. Take advantage of all the gifts the world has to offer. Live every day to the fullest," Gibson shared. "I'd also tell myself -- my younger self -- to shut the f--k up."
The joke elicited a chorus of cheers from the "Late Show" audience.
Recently, Gibson opened up on Variety's Playback podcast about his infamous 2006 drunk driving incident -- during which he was recording making anti-Semitic remarks towards a police officer -- and said how he's trying to put the embarrassing incident behind him.