Charlie Munger Quotes

Good for Warren Buffett that he can afford to do that! Some people, sometimes, need to finance a purchase or rent a car, and a credit card becomes a necessity.

I suppose in the back of my mind I was always one of those guys who had a disdain for money. It had a value if you wanted to buy something, but if you didn't want to buy something, you didn't need it.

When I get a little money I buy books; and if any is left I buy food and clothes.

I almost always recommend investors get fully invested, since it's better to put your money to work than to let it simply track the rate of inflation.

He is a great simpleton who imagines that the chief power of wealth is to supply wants. In ninety-nine cases out of a hundred it creates more wants than it supplies.

Don't identify yourself with labels and brands and have to buy every cute thing you see. Invest in the things that will grow in equity.

People worry that if they buy an annuity and then die before the policy starts to pay off, their heirs will lose out. I tell them, "What you should be more worried about is if you outlive your money, you will have to move in with your kids. Ask your kids which of these outcomes they are more worried about."

Most people put money in their piggy bank. I buy a goose that lays golden eggs over and over again. That's what an asset is.

I can live well with what I have.I'm called 'the poorest president', but I don't feel poor. Poor people are those who only work to try to keep an expensive lifestyle, and always want more and more.

If you ask me what I think people should be getting next season, I’ll tell you what I’d like them to buy—nothing. I’d like people to stop buying and buying and buying.

I realized sometime in the early '80s that if I didn't do something - like planning for the future in a way, a kind of pension or something - that if I didn't do something there and then, I was going to be condemned to forever present my three years as a pop star, condensed, as a stage act for the rest of my life. Because that's normally what happens to people in the pop business.

I don't buy much. Almost buy nothing. I buy what I need, do it the easiest way possible.

So, make a real effort to avoid getting sucked into all the expensive lifestyle habits of typical Americans. Because if you do that, then people with the money will dictate what you do with your life.

Whatever money you may need for the next five years, please take it out of the stock market right now, this week.

With material wealth and in a culture where many of us defines our self-worth by what we have and what we own and what we achieve, it's very hard to comprehend that there are enclaves all over our big country in which people are very purposefully choosing to maintain different values.

People need things. I don't live a monk's existence, I'm a consumer, but I try to do it to the level that doesn't feel like there's an overabundance of something.

Let's say you're all worried about student-loan debt and you need to have steady income. That doesn't have to be your everything.

Few people have any next, they live from hand to mouth without a plan, and are always at the end of their line.

You must have some money if you are going to live simply. It need not be much, but you must have some.

The kibbutz way of life is not for everyone. It is meant for people who are not in the business of working harder than they should be working, in order to make more money than they need, in order to buy things they don't really want, in order to impress people they don't really like.

My plan includes Dependent Care Savings Accounts to encourage savings and help families meet their needs for caring for both children and elders.

I woke up one day and I was like, "I don't have anything to save for myself for the future." That's when I started archiving things. I take four or five things that are really key to each collection, and I restore them or, in some cases, remake parts of them, and archive them.

Many people who say they have financial problems really mean that they want more than they need.

When people ask me what I do for a living, I generally tell them 'I run a hedge fund.' The majority give me a strange look, so I quickly add, 'I am a money manager.' When the strange look persists, as it often does, I correct it to simply, 'I'm an investor.' Everyone knows what that is.

I suppose in a way most of my characters are non-consumers, not terribly interested in all the little baubles and artifacts of contemporary life.