In the pursuit of happiness, we often seek guidance from people who have achieved success and discovered the true essence of a fulfilling life. Charlie Munger, the esteemed investor and philosopher, has much to share on finding happiness.

Munger’s perspective on happiness goes beyond financial success and material possessions, delving into personal fulfilment and contentment. One of his fundamental rules of happiness serves as a guiding principle for leading a more fulfilling life.

Munger’s first rule of happiness goes beyond the conventional notions of material wealth or external achievements. It delves into the mental model that guides our actions.

When Charlie Munger was asked: “You seem extremely happy and content. What’s your secret to living a happy life?” he replied:

“The first rule of a happy life is low expectations. If you have unrealistic expectations you’re going to be miserable your whole life. You want to have reasonable expectations and take life’s results good and bad as they happen with a certain amount of stoicism.”

In a world that often promotes the pursuit of limitless ambitions and constantly raises the bar of expectations, Charlie Munger’s insight on the first rule of a happy life offers a refreshing and profound perspective.

Munger suggests that harbouring unrealistic expectations can be a source of perpetual misery. When we raise the bar unrealistically high, we subject ourselves to constant disappointment and dissatisfaction.

“I find my life is a lot easier the lower I keep my expectations,” says comic artist Bill Watterson.

Munger suggests that unrealistic or overly high expectations can lead to perpetual dissatisfaction and misery. Instead, he advocates for cultivating reasonable expectations grounded in a realistic assessment of what is attainable and within our control.

It doesn’t mean settling for mediocrity or complacency but rather adopting a mindset that appreciates the value of what we have while striving for continuous improvement.

Unrealistic expectations often lead to disappointment, frustration, and a perpetual feeling of unfulfillment.

However, we set ourselves up for a more balanced and contented existence when we maintain reasonable expectations.

Two ways to be happy

“There are two ways to be happy: improve your reality, or lower your expectations.” — Jodi Picoult

A realistic expectation in life can free us from excessive expectations and the unrelenting pursuit of unattainable ideals.

It encourages a pragmatic approach to life. Setting realistic and attainable goals increases the likelihood of achieving them, leading to a sense of accomplishment and contentment.

On the other hand, unrealistic expectations often set us up for failure, disappointment, and a perpetual feeling of inadequacy.

“My expectations were reduced to zero when I was 21. Everything since then has been a bonus,” Stephen Hawking, theoretical physicist, cosmologist, and author wrote.

When you manage your expectations, you create a healthier mental space for finding joy in small victories and appreciating the journey rather than solely focusing on tour outcomes.

Setting reasonable expectations allows us to maintain a sense of balance and perspective. It prevents us from chasing unattainable dreams and encourages us to find happiness in everyday experiences.

Munger’s philosophy encourages us to find happiness by aligning our expectations with reality, practising acceptance, and embracing a stoic approach to life.

Embracing a certain amount of stoicism complements Munger’s rule of happiness

Stoicism, an ancient philosophy, emphasises the development of inner strength and resilience, accepting life’s outcomes with grace and composure.

Stoics acknowledge that both favourable and adverse events are inherent parts of the human experience.

They use this mindset to free themselves from excessive attachment to specific outcomes and reduce the emotional turbulence caused by unexpected setbacks.

Stoicism teaches us to find tranquillity and resilience in the face of adversity, recognising that we cannot control external circumstances but have control over our response to them.

In essence, the philosophy of low expectations with a touch of stoicism encourages us to be more adaptable, accepting, and content with the ebb and flow of life.

It liberates us from the cycle of perpetual dissatisfaction that can arise from an unrealistic pursuit of unattainable ideals.

Embracing a more grounded perspective means we become better equipped to navigate life’s many challenges, fostering a happier and more fulfilling life journey.

Rather than being overly attached to specific outcomes, Munger suggests that we embrace a mindset that allows us to gracefully accept the outcomes, whether favourable or unfavourable.

In adopting this mindset, we can cultivate a sense of contentment, regardless of the outcomes we encounter along our life’s journey.

Both low expectations and stoicism emphasise an understanding of life’s impermanence. Nothing is static, and change is an inherent part of existence. Accepting this fundamental truth makes us more adaptable and open to embracing life’s fluctuations.

We learn to cherish the joyful moments while acknowledging that hardships are inevitable, eventually giving way to contentment.

This realisation allows us to savour the beauty of each passing moment and appreciate life’s richness in its entirety.

Finally, remember what Michael J. Fox, iconic actor, author and activist, once said, “My happiness grows in direct proportion to my acceptance, and in inverse proportion to my expectations.

Originally published on medium.

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