Billionaire Charlie Munger used to joke his kids thought he was a “book with two legs sticking out” because that’s what he looked like most of the time.
He loves reading and learning – specifically he likes researching useful ‘systems and models’ to follow that makes people’s lives better, richer, and happier.
And, he’s used his knowledge to amass a great Billion Dollar fortune as an investor – and as Warren Buffett’s business partner.
So let’s go over some of his best quotes that can help you reach your financial goals.
Quote #1 – ‘Spend each day trying to be a little wiser than you were when you woke up.’
As a very prominent investor, Munger knows the value of expanding your knowledge.
Your decision-making skills will improve at a rapid pace if you keep learning continuously. The results that you can expect are better strategies and more money.
Quote #2 – ‘People calculate too much and think too little.’
When it comes to running a business or creating wealth this is an important rule remember.
It’s possible to rely too much on the numbers – the safety of spreadsheets – when it comes to growing their business.
Number crunching is important but you also need to leave room for broader analysis of the situation and creative decisions.
Take time to sit with a notepad and pen and think for 20 minutes a day, and watch your life get better.
Quote #3 – ‘Always take the high road, it’s far less crowded.’
If you’re looking for shortcuts on your way to success, you’re maybe setting yourself up for failure.
Do the things that may not be easy – but are more important to your strategic goals.
And, watch the great things that happen next.
Quote #4 – ‘Simplicity has a way of improving performance by enabling us to better understand what we are doing.’
Many successful people will tell you to keep things simple. However, people often misinterpret this.
The statement doesn’t mean that running a business or creating wealth is an easy thing to do. It just means that many people create unnecessary complications, which hurt their chances of success.
Take a few steps back from your challenges, and get clarity on your end goal, to help you make forward in the best way possible.
Quote #5 – ‘You need patience, discipline, and an agility to take losses and adversity without going crazy.’
These three things are by vital when it comes to creating wealth. You need emotional resilience and a sense of perspective so you can keep moving forwards.
There’s always a next step – everyone makes mistakes the key thing is to learn from them. If you can remember this you’ll be far more likely to reach your goals.
The Real Estate Success Path
Interestingly, Charlie Munger made his start in wealth creation in real estate.
As a partner at a busy law firm he did some property deals on the side- then found he was making more through real estate than in his day job!
If you’re keen to potentially replace your day-job income with real estate income then check out this new webinar.
Here’s what’s possible when you find the right real estate cashflow strategy and take action.
And, the best part?
She built her ‘Air Cashflow’ portfolio within 30 days of discovering this strategy…
Keen to learn more?