Charlie Munger, nearing his 100th birthday, emphasized that the true purpose of wealth is independence rather than luxury. In a candid interview, the Berkshire Hathaway legend highlighted his disdain for chasing investors and attending meetings, which he referred to as 'friction.' He walked away from these obligations once he amassed enough wealth. While acknowledging the role of intelligence, hard work, and luck in success, Munger advised betting heavily when opportunities arise. He valued clarity and trust over chaos and trends, and prioritized freedom over fame. Follow Benzinga for more insightful stories.