Lessons from a 97-Year-Old Legend: Charlie Munger's Wisdom - 2021-02-27

I was incredibly impressed watching Charlie Munger at the Daily Journal's AGM. At 97, he's still sharp as a tack, fielding all sorts of questions with remarkable clarity. Seeing him in his wheelchair, so mentally agile, is truly inspiring. It makes you think: how does someone achieve that kind of longevity and vitality?

I want to learn from him. I want to live a long, healthy life, ideally reaching 97 and beyond with the same spark. His advice is simple yet profound: avoid stupid things that shorten your life. No excessive drinking, no drugs, no speeding. And perhaps most importantly, maintain a good mood and keep low expectations.

This resonates with me, especially when I'm cycling. I use cycling as exercise, a way to extend my life, not shorten it. So, I avoid dangerous routes with heavy traffic. As I get better and more confident, the temptation to push my limits grows. I could theoretically cycle much further, explore more challenging routes. But I need to stay within my "circle of competence," as Munger would say. Avoid stupid risks. Don't let overconfidence lead to a preventable accident.

Munger's core message is one we should all take to heart: Don't do stupid things. It sounds simple, but it's incredibly powerful.

This principle also guides my financial decisions. I'm focused on controlling my spending and building a recurring income stream, a legacy for future generations. I want my kids, and their kids, to have the freedom to pursue their passions and contribute to society in a meaningful way. Some friends think I'm being too frugal, sacrificing enjoyment today for a distant tomorrow. They haven't experienced the same financial hardships I have, so they don't quite understand.

Munger also spoke admiringly of Lee Kuan Yew, praising his ability to identify what needed to be done and then simply doing it. That's a powerful combination: clarity of vision and the will to execute. It's a lesson I try to apply to all areas of my life, from gardening to investing to simply navigating the city streets on my bike. Don't do stupid things, figure out what works, and then do it.

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