Charlie Munger, the respected partner of Warren Buffett in the legendary Berkshire Hathaway empire, is approaching a milestone that few achieve —turning 100 years old. With a career spanning over four decades alongside Buffett, Munger has accumulated immense wealth and shared invaluable insights that transcend the realm of finance. As Munger approaches his birthday on New Year’s Day, let’s reflect on some of his wisdom that inspires strivers and investors of all ages.
The Journey to $100,000: In the 1990s, Munger acknowledged the initial struggle of building wealth, stating, “The first $100,00 is a bear, but you gotta do it.” In a world where financial goals seem daunting, Munger’s advice remains relevant — your first significant milestone requires massive action, hard work, and resourcefulness. Whether it means seizing opportunities, outworking your peers, or being frugal, he advocates finding your way to this crucial financial milestone as soon as possible.