Charlie Munger, a key figure in building Berkshire Hathaway with Warren Buffett, reflected in a 2023 interview on how he could have improved his financial success by compounding sooner, longer, and smarter. Despite making billions and living frugally, Munger believes he left money on the table. His simple strategy emphasized avoiding financial and lifestyle pitfalls, protecting sanity, and prioritizing smart decisions over opulence. Munger's philosophy underscores avoiding mistakes and distractions as the true challenge, rather than merely accumulating wealth. He cautions against big houses and lifestyle inflation, asserting they often bring less happiness.
