Charlie Munger lived in the same house for 70 years, and he watched rich friends buy fancy homes and become less happy

Charlie Munger, vice chairman of Berkshire Hathaway Inc., lived in the same house for 70 years. Munger lived modest life, avoiding lavish living standards that often accompany financial success. He watched his friends buy fancy homes and become 'Less Happy, Not Happier'

Billionaire Charlie Munger intentionally lived in the same California home for seven decades — making him "happier" and benefitting his children, he said.