Charlie Munger’s Guide to Living a Meaningful Life | Final Interview with CNBC 2023

[Transcript]

BECKY QUICK: Charlie, Warren Buffett told me that a long, long time ago you told him he should live his life — he should write his obituary the way he wants it written and then live his life accordingly.

CHARLIE MUNGER: Yeah. Sure.

BECKY QUICK: I assume you’ve done the same thing for yourself.

CHARLIE MUNGER: No, I’ve written my obituary the way I’ve lived my life and if you want to pay attention to it that’s alright with me. And if they want to ignore it, that’s okay with me, too. I’ll be dead — what difference will it make? But I think it's a good — it's not a bad idea.

Warren and I both lived in the same house for decade after decade after decade. All our friends get rich and built bigger and better houses. And, naturally, we both considered bigger and better houses. And I had a huge number of children, so it was justifiable even. And I still decided not to live a life where I look like the Duke of Worcester or something. And I was going to avoid it. I did it on purpose.

BECKY QUICK: Why?

CHARLIE MUNGER: I didn’t think it would be good for the children.

BECKY QUICK: That it would spoil them?

CHARLIE MUNGER: Yeah. If you’re born into a rich family, you think your duty is to use the wealth and live grandly. That is what everyone is doing with the money. You will learn from the people who are doing it.

BECKY QUICK: Is the plan for your life, the obituary you would write in your thirties, the same you would write today?

CHARLIE MUNGER: Sure. I basically believe in the “soldier on” system. Lots of hardship will come and you’ve got to handle it well by soldiering through. And lots of — a few rare opportunities will come. You’ve got to learn how to recognize them when they come and not to make too minor of a trip to the pie counter when the opportunity is available. And those are the simple lessons.

Source: https://youtu.be/H5Oom5Rjp_Y?si=ZEkkZkAN6WyOWcl9

 

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