Charlie Munger Once Told People To Be Happier, Recalled Living Through The Great Depression: 'Life Was Pretty Brutal'

Thanks to his years of leadership at Berkshire Hathaway Inc (NYSE:BRK-A) (NYSE:BRK-B) and investing, Charlie Munger was a billionaire. The well-known financial figure passed away on Nov. 28, 2023 at the age of 99.

Here’s a look back at advice Munger shared on how people could be happier.

What Happened: As the long-serving vice chairman of Berkshire Hathaway, Munger was known for his decades of friendship with legendary investor Warren Buffett.

Munger was also known for sharing words of wisdom and looking at things through a different lens.

In 2022, Munger shared his thoughts on the current state of the world, noting that people aren't as happy as they should be. Munger drew parallels between life today and life centuries ago to offer a deeper understanding of our present circumstances.

"People are less happy about the state of affairs than they were when things were way tougher," Munger said at the Daily Journal annual meeting.

Munger, who was a director at the Daily Journal, shared that people should be happy with what they have and how much the world has improved.

"It's weird for somebody my age, because I was in the middle of the Great Depression, when the hardship was unbelievable."

Munger recalled growing up in the 1930s and also the previous challenges that people went through in the 1800s.

"Life was pretty brutal, short, limited and what have you. (There was) no printing press, no air conditioning, no modern medicine."

Related Link: Charlie Munger’s 3 Word Piece Of Advice Helped Warren Buffett And Could Help You Too

Why It's Important: The speech at the Daily Journal meeting came as Munger has downplayed the impact of wealth and income inequality.

Munger said that politicians who attribute wealth inequality as a contributing factor to happiness are "idiots," as reported by CNBC.

The Berkshire Hathaway vice chairman previously stated that some degree of wealth and income disparity is requisite for the functioning of a free market economy.

"I can't change the fact that a lot of people are very unhappy and feel very abused after everything's improved by about 600%, because there's still somebody else who has more."

Munger also pointed out that factors such as increased life expectancy and diminished global poverty indicate that the world could be in a better state today than it was hundreds of years ago.

The billionaire underscored that people’s happiness could be increased if they focused on positive aspects, and appreciated how much better life is today compared to what it could have been if they existed in a different era.

As he has done in the past, Munger’s insightful words encouraged a shift in perspective.

Read Next: Billionaire Charlie Munger Reveals Key To Wealth, Health And Happiness 

Some elements of this story were previously reported by Benzinga and it has been updated.

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