Charlie Munger: The Six Stages of Wealth Freedom, 99% of People Fail at Stage 3. The term wealth freedom has been overused by today's youth.
Do you think wealth freedom means lying on the beach sipping coconut juice? Or buying things without looking at the price tag?
Wrong. Completely wrong.
I have lived for 99 years and have seen countless smart people get crushed in their pursuit of "wealth freedom." Because they do not understand that wealth freedom is not a destination, but a tower with six floors. Each floor has a gatekeeper holding a knife.
Today, I will take you to climb this tower. If you bought a luxury car at stage 3 or are already living paycheck to paycheck at stage 1? Listen to what old Charlie has to say.