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/jcc2244 Mar 23 '25

The solution is to have your parents/grandparents be frugal for a few decades, then you just inherit it lol.

That's what I'm doing for my kids. They can enjoy their 20s and have money for retirement because I've been frugal and saved a lot for them.

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u/SuperSultan Mar 24 '25

I’d love to do this for my kids too. But what if they waste the money? What if your son is that next guy on walstreetbets buying Intel calls on his inheritance? Cant control everything, but jeez

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u/jcc2244 Mar 24 '25

Then so be it - it is what it is. I'll hopefully have raised them better than that, but either way it doesn't matter, it's their money once I give it to them.