Recommended Reading: If you want to understand the mind of Charlie Munger — his wit, his discipline, and his lifelong pursuit of …
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Recommended Reading: If you want to understand the mind of Charlie Munger — his wit, his discipline, and his lifelong pursuit of …
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26 comments
It is good advice but Debt is a leverage. If you don’t have money, you need to pay to use other money. But do it the right way.
I am impressed
He gives terrible, outdated advice because he is a fossil. This is what old people don't understand. Paying interest allows you to leverage time. In other words, the only reason people are willing to pay interest and incur debt is because time allows you to dilute your expenses. If I have a mortgage and 100k available, I would never use my 100k to pay off the mortgage. It would be counterproductive. I would be left with nothing.
If your willing to work 80hrs a week you can payoff debt and invest at the same time.
Housing debt is a little weird tho. Cause the note on the mortgage hits cash flow but a low payment over time seems like a depreciating dollar asset.
yeah, but let be honest mortgage is the only way for many to get a home now days. I hate debt too, you just need to understand how compound works against you in that situation and have plan to get rid of it asap.
The Elite puts a lot of this stuff out to keep you poor. Listen to Robert Kiyosaki
This just rerouted my next 5 year plan and strategy…
蔡英雯被軟禁
wise words glad my algorithm got me here
Will they still give a free month for the people that don't have FSD?
smart man, but wrong about some stuff.
Sorry Charlie, there is some debt that is ok.
Should have bought more cost like Charlie. Goat
I finally understood that the best “investment” I ever made wasn’t a stock—it was killing every consumer debt. The day no one owned my paycheck, my decisions got calmer and my results improved. Markets became opportunities, not emergencies. I tell my grandkids: compounding only works when nobody can force you to sell.
Anyone here notice your investing got better the moment you owed nothing? What changed for you?
Things that apparently are oxygen so far in these videos: Cash, debt, patience. What is the next oxygen?
If your mortgage is only 2.5% and you have enough money in stock market to pay off, would you pay off or keep the money in stock market to keep growing?
When did Charlie actually say this Sounds like an audio book in Charlie’s voice
Im on a journey to pay off my credit cards .after to attack my car loan and my student loan. I have a long journey in front of me but with discipline and determination I will.
Nothing wrong with using debt to make money!
I'm 32. Just bought an apartment, the banker recommended not to pay faster debt,invest in stock. I move into my apartment with 70k €in the bank,next step 100k . Then all savings going into the stock market. No more savings after 100k emergency
Berkshire holds debt…
So much sanity in these videos. I really needed to hear this.
The bank keeps messaging me trying to give me a larger credit line. I just ignore it. I bought 2 single family investment homes this year. Now I'm paying extra payments. 15x my minimum payment this month. I'll buy again next year.
Awesom advice from dear charlie thank you so much
the random french is a nice touch
Dayum. I needed this. A true wake up call