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6 Longevity Tips From Charlie Munger

November 28, 2023.

6 Longevity Tips Charlie Munger Believed In for a Long and Happy Life

 

Note: this article was originally published here: Charlie Munger: 6 Tips for Longevity (businessinsider.com)

 

Charlie Munger, vice chairman of Berkshire Hathaway and right-hand man to Warren Buffett died at the age of 99 years old.

Munger was known as a successful investor — his net worth is estimated at $2.6 billion, according to Forbes — and for his pragmatic life advice.

In 2019, Munger shared some of the secrets behind his positive outlook with CNBC. “All these simple rules work so well to make your life better. And they’re so trite,” Munger said.

Here are 6 of Munger’s tips for a long and happy life.

1. Don’t have a lot of envy

Munger has been warning about the dangers of envy for decades.

In a speech he gave to graduates at Harvard in 1986, Munger said that envy “joins chemicals in winning some sort of quantity price for causing misery.”

He’s repeated that refrain in the years since.

At the 2022 annual meeting of the Daily Journal, where Munger was a director, Munger said, “The world is not driven by greed. It’s driven by envy.”

2. Avoid resentment

In his 1986 speech, Munger also warned the graduates about resentment. “I cannot recommend it highly enough to you if you desire misery,” he said.

Munger himself had a difficult life, including divorce, partial blindness, and the death of a son. Still, he strived to avoid resentment.

3. Don’t overspend your income

At Berkshire Hathaway’s annual shareholder meeting last May, Munger dispensed some sage financial advice.

“It’s so simple to spend less than you earn, and invest shrewdly,” he said.

He also noted that it’s important to avoid toxic people and activities, continue learning, and practice deferred gratification.

“If you do all those things, you are almost certain to succeed. If you don’t, you’re going to need a lot of luck,” he said.

4. Stay cheerful in spite of troubles

Munger has certainly faced challenges — but he told CNBC in 2019 that “staying cheerful” is “a wise thing to do.” To remain cheerful, Munger said that it’s key to let go of negative emotions.

“And can you be cheerful when you’re absolutely mired in deep hatred and resentment? Of course you can’t. So why would you take it on?” Munger told CNBC.

5. Deal with reliable people

Munger credits getting close to reliable people — and avoiding toxic people — as part of his success.

One of the most reliable people in Munger’s life was, of course, Warren Buffet. The pair first met in their mutual hometown of Omaha in 1959, and shared a friendship that spanned more than 60 years.

Buffett wrote in his 2014 annual letter to shareholders that “the Omaha doctor who introduced us predicted that we would hit it off — and we did.”

Buffett also credited Munger with the success of Berkshire Hathaway, saying it was “built to Charlie’s blueprint.”

6. Do what you’re supposed to do

Munger also said to “spend each day trying to be a little wiser than you were when you woke up,” as well as that “The best thing a human being can do is to help another human being know more.”

Bonus: Eat a bit of candy

Though he was (probably) joking, Munger once had an unconventional piece of advice: eat candy.

In an interview with CNBC last February, Munger munched on some peanut brittle from See’s Candy, a company that Berkshire Hathaway owns, and said it was the key to a longer life.

“I’m eating this good peanut brittle,” he said. “That’s what you want to do if you want to live to be 99.”

 

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References

Hall, Kate.  “6 longevity tips Charlie Munger believed in for a long and happy life.”  6 longevity tips Charlie Munger believed in for a long and happy life (yahoo.com).  November 28, 2023.

 

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