‘Didn’t want to spoil the children’: Charlie Munger in his final interview on living in the same house decade after decade

As the world mourns the passing of Charlie Munger, the legendary investor and Warren Buffett’s right-hand man, insights into his final interview shed light on his remarkable life choices. In a conversation with CNBC's Becky Quick, conducted just ahead of what would have been his 100th birthday, Munger shared profound reflections on his life's philosophy.

Living a life in accordance with his self-penned obituary, Munger echoed the sentiment that had governed his existence alongside Buffett. Their shared ethos was reflected in an uncommon decision—to live in the same house for decades while their peers upgraded to grander residences.

"I still decided not to live a life where I looked like the Duke of Westchester or something. And I was going to avoid it. I did it on purpose," Munger confessed to Quick.

The reasoning was simple but profound. Munger, a father of many, held a conviction that dwelling in opulence would spoil his children. "Live in a rich family, your duty is to use the wealth and live grandly. That's what everybody's doing with the money. You learn from the people that are doing it," he explained.

The refusal to succumb to the ostentatious trappings of wealth was a deliberate choice, driven by a desire to instill values of humility and diligence in his children. His dedication to this principle remained unwavering throughout his life. "I didn't think it would be good for the children," he asserted.

When asked about the consistency of his life's plan, Munger affirmed that his beliefs had remained steadfast. "Sure. I basically believe in the soldier on system," he stated, emphasising the importance of perseverance through life’s challenges and seizing rare opportunities with astuteness.

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