27 Timeless Charlie Munger Quotes That Will Change How You Approach Life

Smart, funny, and wise, Charlie Munger is a hero and mentor of mine.

Obviously, I’ve never met the great man, but Mr. Munger has had a major influence on me such as how I approach learning, reading, investing, and life in general.

Even though Munger is no longer with us passing away at the tender age of 99 (yes, 99!) in late 2023, his wisdom and knowledge will be passed down for many generations.

I could include well over 100 Charlie Munger quotes in this article but for now, we will have to settle for 25. I promise you’ll love them!

1. “All I want to know is where I’m going to die, so I’ll never go there.”

On the surface, this quote is funny, but it carries a deeper meaning. Munger believed that the best way to live life was to think backward, think what could go wrong, and then avoid it at all costs.

2. “Knowing what you don’t know is more useful than being brilliant.”

Having the humility and humbleness to know that you don’t know is how you gain wisdom and lifelong knowledge.

This quote reminds me of Socrates. He said: “All that I know is that I know nothing.”

3. “In my whole life, I have known no wise people who didn’t read all the time–none, zero”.

Read widely a lot and read widely. Reading opens the door to knowledge and wisdom.

4. “Being rational is a moral imperative. You should never be stupider than you need to be.”

Please, try not to be stupid!

5. “You don’t have to be brilliant, only a little bit wiser than the other guys, on average, for a long, long, time.”

If there is anybody who knows the importance of doing good things over the long term, it is Charlie Munger.

Being consistently good, over a long time, will beat being occasionally amazing every day of the week.

6. “There’s no way that you can live an adequate life without making many mistakes.”

Mistakes are a critical part of life. If you’re not making mistakes regularly, you’re not growing and you’re not on the road to becoming your best self.

7. “Acknowledging what you don’t know is the dawning of wisdom.”

The smarter you get, the more you begin to realise how little you do know.

8. “Spend each day trying to be a little wiser than you were when you woke up. Day by day, and at the end of the day, if you live long enough … you will get out of life what you deserve.”

If you spend every day being just a tiny bit better than you were yesterday, and doing something to make you a smidge wiser, over a long period, you’ll achieve great things.

9. “If it is wisdom you’re after, you’re going to spend a lot of time on your ass reading.”

Is there anything better for gaining wisdom and knowledge than reading? Probably not.

10. “Bull markets go to people’s heads. If you’re a duck on a pond, and it’s rising due to a downpour, you start going up in the world. But you think it’s you, not the pond.”

Have some humility, keep your feet on the ground, and don’t be like the many people who get carried away with the slightest bit of success.

11. “Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you’ve won.”

At times, life will be tough. It might not be tough at the minute, but they’ll tough times will rear their ugly head when you least expect it. You just need to be prepared for when that time eventually comes.

12. “I try to get rid of people who always confidently answer questions about which they don’t have any real knowledge.”

Always be wary of the overconfident people. It’s often overconfidence that leads to your and other people’s downfall.

13. “It’s a good habit to trumpet your failures and be quiet about your successes.”

Be loud when you fail and humble when you’re successful. The last thing you want to do is stir up envy in others.

14. “Just avoid things like racing trains to the crossing, doing cocaine, etc. Develop good mental habits.”

Any further explanation needed?! Simple.

15. “It’s dishonorable to stay stupider than you need to be.”

The lesson here is simple: avoid doing stupid, irrational things.

16. “It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.”

Think long-term, think rationally, avoid basic stupidity, and then wait. In the end, you’ll get your rewards.

17. “If you don’t keep learning, other people will pass you by. Temperament alone won’t do it. You need a lot of curiosity.”

Temperament and mindset are important, but nothing is more important than an insatiable appetite to keep learning, no matter how old you are.

18. “The game of life is the game of everlasting learning. At least it is if you want to win.”

Remain curious. Stay humble. Never stop learning. In the end, you’ll come out on top and win.

19. “Avoid working directly under somebody you don’t admire and don’t want to be like.”

You spend such a huge majority of your time at work, so why would you want to surround yourself with people, who you either don’t like, have no respect for, or don’t want to be like? It makes no sense.

20. “It’s been my experience in life, if you just keep thinking and reading, you don’t have to work.”

Think. Learn. Read. It’s as simple as that.

21. “If you rise in life, you have to behave in a certain way. You can go to a strip club if you’re a beer-swilling sand shoveler, but if you’re the bishop of Boston, you shouldn’t go.”

Adjust your behaviour accordingly to the position you find yourself in. Oh, and be responsible!

22. “There is nothing more counterproductive than envy. Someone in the world will always be better than you. Of all the sins, envy is easily the worst, because you can’t even have any fun with it. It’s a total net loss.”

Envy is without a doubt one of the most dangerous and toxic feelings one could feel. Do everything you possibly can to prevent it from stirring up the waters inside yourself and others.

23. “Someone will always be getting richer faster than you. This is not a tragedy.”

Getting rich quickly isn’t always the solution. Sometimes getting rich quickly is a curse. Just be aware of that.

24. “If you get a lot of heavy ideology young — and then you start expressing it — you are really locking your brain into a very unfortunate pattern.”

Once you’re stuck in a certain pattern of thinking, it’s very hard to snap out of it. Always stay open-minded and never lean too heavily into a singular mode of thinking.

25. “How to find a good spouse? The best single way is to deserve a good spouse.”

The best way to deserve something in life is to earn it, even your better half!

26. “There is no better teacher than history in determining the future… There are answers worth billions of dollars in 30$ history book.”

History, if you listen closely enough and pay attention, can teach us a lot about the present moment.

27. “The first rule of a happy life is low expectations.”

As contrary as it might sound: Stop expecting too much from life. Stop expecting too much from others, yourself, and the world around you.

If you set your expectations for life too high you’ll be disappointed when things turn out not as you wanted them to. If you set the bar low enough you’ll never be disappointed.

It doesn’t mean you shouldn’t strive to be better, but instead approach life with a sense of acceptance.

Which is your favourite quote on this list?