Charlie Munger’s Simple Yet Solid Philosophy for a Happier Life and A Successful Career
Charlie Munger, the billionaire investor, and business partner of Warren Buffett, passed away on Tuesday at the age of 99. This was shortly after taping an extensive interview with CNBC’s Becky Quick, where he discussed his life philosophy and the reasoning behind choosing to live in the same modest California home for over 70 years.
Making a Conscious Choice for a Modest Lifestyle
According to Charlie Munger, the choice to live in a relatively modest house was a deliberate one and not an accident. In the interview, Munger explained that both he and Buffett deliberately chose not to live in opulent, extravagant homes, despite their wealth.
The Downside of Opulent Living
Munger firmly believed that having a “basic house” with utility was more than enough, and living in a mega-mansion would not make him any happier. He remarked that in nearly every case, watching friends build extravagant homes made them less happy. Having a larger home might help one entertain more people, but it’s also a very expensive thing to do and wouldn’t bring that much benefit, Munger opined.
Remaining Modest for the Children
Despite having a large number of children, Munger deliberately chose not to live a life that looked rich and opulent. He believed that such a lifestyle would not be good for the children as it could spoil them. Warren Buffett shares this philosophy as well, having lived in the same house he bought in 1958.
Embracing a Simple but Successful Life Philosophy
Charlie Munger often advised against envy and overspending, and he believed in avoiding the standard ways of failing. He also firmly advocated for avoiding “crazy” at all costs, as he believed it’s way more common than people think, and it’s easy to slip into it.
In conclusion, Munger’s philosophy was simple: a modest lifestyle can lead to a happier life, and avoiding the pitfalls of envy, overspending, and extravagance is key to a successful and fulfilling life. His advice has resonated with many and serves as a testament to his lasting legacy.
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