On a list of 6 things a famous billionaire says are the secrets to a long and happy life, only 1 of them has do with money.
We discussed these 6 secrets to a long and happy life on The BIGG Success Show. Here’s a summary of that discussion.
Charlie Munger is best known as Warren Buffett’s right hand man. He’s the vice chairman of Berkshire Hathaway. He’s very successful and at age 95, is worth $1.7 billion.
When asked recently by CNBC’s Becky Quick what he thinks are the secrets to a long and happy life, he provided the following:
“You don’t have a lot of envy.
“You don’t have a lot of resentment.
“You don’t overspend your income.
“You stay cheerful in spite of your troubles.
“You deal with reliable people.
“And you do what you’re supposed to do.
Here are some ways to put Munger’s secrets to work in your life.
Don’t take what you have for granted. Spend less time thinking about what you don’t have and more time being grateful for what you do have.
Spend time with people who are grateful, not materialistic.
Be generous and give what you can to others – it could be time and/or money
Celebrate the success of others
Don’t have a lot of resentment
Resentment has been described as the simultaneous or overall combined experience of the feelings disappointment, anger and fear. It’s when you have an ongoing anger or disappointment in a person, or a situation.
It’s something you hold on to, but often, resentment takes a hold of you. You must let go of resentment to be freed from its painful weight.
Face the resentment – this may be best done with a professional. Deal with the emotions you feel from the resentment. Then heal.
Don’t overspend your income
We’ve talked about smart ways to manage your money – and we’ve had experts in personal finance on our podcast to share advice. The key across the board – is to live within your means.
Don’t fall into the trap of using high interest credit cards and loans for luxuries you can’t afford.
Consider using our Financial Freedom Tool – which allows you to know your net income, and how much is going out in payments so you can create a budget. It allows you to stress test costs before you spend the money to see what the impact will be. It shows you what the average person in your income bracket is spending on typical expenses, so you’ll know if there are places where you’re overspending. Our tool helps you create a plan to reach financial freedom.
Whether you use our tool or another one, it’s important to look at your numbers to ensure you don’t overspend.
Stay cheerful in spite of your troubles
Our faith really helps us here. We are called to rejoice in each day! Psalm 118:24 says, “This is the day the Lord has made. We will rejoice and be glad in it.”
Focusing on the troubles you face drains precious energy. It puts you in a tailspin and leads you to self-pity. Instead focus your attention on what you can DO to change your situation.
Deal with reliable people
Surround yourself with good and reliable people. And be a good and reliable person.
Life is hard, You can’t be good at everything. We each have strengths and weaknesses. Surround yourself with people who can lift you up, when you need help. And be there for others when they need a lift.
One of our favorite books is Stephen Covey’s 7 Habits of Highly Effective People. In the book, he says we have to move from independence to interdependence in order to achieve maximum effectiveness. You can achieve more, and do it faster, by working with others. Build a network of people you can depend on.
Do what you’re supposed to do
We are all put on this earth for a reason.
BIGG success is about entrepreneuring your life. You may never be an entrepreneur in the traditional sense of the word. But you are the entrepreneur of an incredible important enterprise – your life. You own your life. You need to find your “why.”
Ownership starts with a decision – a decision to take full responsibility for your journey. A decision to live out your destiny.
You are the greatest miracle in the world. You have a distinct point-of-view. Follow these secrets to a long and happy life, so you can show your unique self to change the world and do more good. That’s BIGG Success!
Here’s to your BIGG success!
George “The Professor” & Mary-Lynn
Co-Founders, BIGG Success
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