Does Charlie Munger consider wealth to be the core metric of success?

Does Charlie Munger Consider Wealth the Core Measure of Success?

Simply put, no.

For Munger, wealth is more like a byproduct—a natural outcome that follows when you get many other, more important things right. In his philosophy of life, the core of success lies elsewhere.

Here’s how to understand it:

1. Success Means "Deserving" What You Want

This is one of Munger’s central tenets. He famously said:
"The safest way to get what you want is to deserve what you want."

• What does this mean? Instead of obsessing over "making money," focus on becoming a smarter, more reliable, and more capable person. When you become that person, opportunities and wealth will naturally find you.
• An analogy: Imagine wanting the best apple in an orchard. One approach is scheming to sneak in and steal one. The other is learning to plant, fertilize, and nurture trees until you own the entire orchard. Munger champions the latter. He believes pursuing wisdom and moral growth is life’s "main quest."

2. True Success Lies in "Rationality" and "Integrity"

Munger emphasized "Rationality" throughout his life. He argued that the greatest human achievement is overcoming emotional and biased thinking to see the world clearly, objectively, and make sound decisions.

• Avoiding stupidity is more important than pursuing brilliance: He often stated that if he knew where he would die, he’d never go there. This exemplifies his "inversion" thinking. In life, simply avoiding major, foolish mistakes (like deceit, speculation, or envy) already puts you ahead of most people.
• Reliability is a virtue: He deeply valued "responsibility" and "trustworthiness." Becoming someone whom family, friends, and partners view as "dependable" is itself a profound success. Warren Buffett echoed this, stating they only work with people they like and trust.

3. The True Value of Wealth is "Freedom"

So why did Munger amass such wealth? For him, its greatest purpose is to provide freedom and independence.

• The right to say "no": With sufficient wealth, you aren’t forced to do things you dislike or deem unethical just to survive. You gain the freedom to choose your career, partners, and even how to spend your time—learning and thinking included.
• Security: Wealth offers a solid safety net for you and your family, providing confidence and options when facing unexpected challenges.

Thus, wealth isn’t a status symbol, but a tool to buy life’s freedom.

To Summarize

Imagine life as building a house:

• The foundation is your character and rationality—it must be unshakeable.
• The bricks and beams are your continuous learning and effort.
• The house itself is your successful life—secure, comfortable, and protective.
• Wealth? It’s like the beautiful interior and the view outside the window. They enhance your enjoyment, but they aren’t the core structure. If the foundation crumbles, even the grandest décor will eventually collapse.

Therefore, in Munger’s view, someone who is wealthy but lacks integrity and is driven by irrationality is far from successful. True success means becoming a wise, principled, and trustworthy person. Wealth is merely a reward for that kind of success.