Does Charlie Munger advocate for 'retirement'? What is his advice for later life?

Okay, let's talk about the wise old man Charlie Munger's views on "retirement" and "life in later years."

Did Charlie Munger Advocate "Retirement"? What Were His Suggestions for Later Life?

In one sentence: He strongly did not advocate it.

For Munger, the word "retirement," especially the traditional model of doing nothing and playing golf all day, was almost synonymous with "spiritual death." He himself was the best example: until his death at age 99, he remained Vice Chairman of Berkshire Hathaway, reading, thinking, and working every day.

Why Didn't Munger Advocate "Retirement"?

You can understand his thinking from these perspectives:

The "game" is too fascinating, why stop? Munger viewed investing and running businesses as an incredibly complex and fascinating intellectual game. For him, solving business puzzles and analyzing company value were full of fun and challenge, like a grandmaster playing chess. If you've found something you truly love doing, why would you voluntarily end the game?
The brain is like a muscle; unused, it atrophies. He firmly believed that keeping the brain active was key to longevity and happiness. Continuous learning, thinking, and facing challenges keep your mind sharp. He joked that many people's brains "shut down" after retirement, and their bodies soon followed. He didn't want to be like that.
The compounding effect of knowledge. We all know money compounds; the longer you save, the more it grows. Munger believed knowledge has a powerful compounding effect too. The longer you live and the more you learn, the more the wisdom and insight you accumulate help you make better decisions. "Retiring" early means voluntarily giving up the most valuable period of knowledge compounding in the latter half of life.

So, what were his suggestions for later life (or life in general)?

Munger's advice wasn't just for "later years"; it was a life philosophy. He believed the best way to have a happy later life is to live each day well beforehand. Here are some of his classic and practical suggestions:

Become a "learning machine." This was Munger's core idea. The thing he did most every day was "sit down and read." He emphasized reading widely—not just business and investing, but also history, psychology, biology, physics, etc. He said: "In my whole life, I have known no wise people who didn't read all the time—none, zero."
Build your "multidisciplinary mental models." What does this mean? Don't look at every problem with just one hammer. For example, you can't view the world solely through an economics lens. You need a "toolbox" filled with important concepts (mental models) from various disciplines—like psychology's "incentive theory," biology's "evolution," physics' "critical mass theory," etc. When faced with a problem, analyze it from multiple angles; your conclusions will be closer to the truth.
Invert, always invert. This is a powerful thinking tool. When you ask, "How can I succeed?" try inverting it: "How can I fail?" Munger said if you can list all the factors that lead to failure (like laziness, envy, unreliability, drug addiction, etc.) and then strive to avoid them all your life, your chances of success increase dramatically. Similarly, "How can I have a miserable later life?"—just avoid doing those things, and your later life will likely be happy.
Avoid "poisonous" emotions. Munger repeatedly warned against several emotions: envy, resentment, revenge, and self-pity. He saw these as "poisons" that only cause you pain and offer no benefit. Especially envy: "Driving a Ferrari and feeling bad because someone next to you has a better Ferrari—how stupid is that?"
Delay gratification; enjoy compounding. Don't chase overnight riches, whether in wealth or wisdom. Like rolling a snowball, find a long, wet slope and let your wealth, knowledge, and reputation accumulate and grow slowly over time. This requires immense patience.
Find something you love and are good at. Munger believed that if you can deeply engage in a field where you have both talent and passion, you'll find success and happiness more easily. This blurs the line between "work" and "life," making you naturally disinclined to "retire."

To summarize

So, for Munger, the concept of "retirement" simply didn't exist. His life philosophy was "lifelong learning and lifelong work," but this "work" didn't mean forced labor for sustenance; it meant continually engaging in activities you love that stimulate your intellectual curiosity.

His advice tells us that a happy later life isn't achieved by "finding fun" after retirement; it's the natural result of good habits cultivated over a lifetime, accumulated wisdom, and good relationships. Instead of planning an idle retirement, start now to build yourself into someone who is constantly learning, thinks rationally, is inwardly calm, and is genuinely interesting.