Charlie Munger's advice to young people
I am not that young, but Charlie Munger's advice still resonates with me.
Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step-by-step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts. Slug it out one inch at a time, day by day, and at the end of the day – if you live long enough – like most people, you will get out of life what you deserve.
On coping with life's challenges, he prescribes the following:
- Have low expectations.
- Have a sense of humor.
- Surround yourself with the love of friends and family.
- Live with change and adapt to it.