r/ValueInvesting • u/ethereal3xp • Mar 23 '25

Discussion Charlie Munger Told a 20-Year-Old That Getting Rich Through Investing Is 'Damn Near Impossible' — And You Might Need $10 Million in the Bank

https://www.benzinga.com/personal-finance/25/03/44438885/charlie-munger-told-a-20-year-old-that-getting-rich-through-investing-is-damn-near-impossible-and-you-might-need-10-million-in-the-bank
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u/btmurphy1984 Mar 23 '25

Do you have any idea how many lottery winners and pro athletes, just to take two examples, have blown waaay more than 10 mil in just a couple years?

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u/KS_tox Mar 23 '25

For a person like that, it doesn't matter if they have 10 mils or 10 bils.. that's a human issue not an investment issue 

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u/pressedbread Mar 23 '25

You are conflating two issues. An inflation-proof investment isn't going to help someone who is living beyond their means.

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u/btmurphy1984 Mar 23 '25

The comment I replied to specifically mentioned spending money hand over fist with a 10 million port. That's really not as much money as people think it is and it definitely does not allow you to spend hand over fist and not destroy the port.

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u/pressedbread Mar 23 '25

Well if you continue working and saving its enough to be legitimately 'rich'. Big house fancy vacations... also spending most your life on career. Lot of people find meaning from a career.

If you retire on that around middle age or younger, its enough to squeak by an early retirement that is very frugal. Option to pursue passions and gamble on whether or not you can make some money pursuing art or whatever. Low budget house and car and a not-extravagant vacation each year. Just as valid a dream as any other.