Charlie Munger once advised Warren Buffett to live his life according to how he wanted his obituary written, and 'live backwards'

• Charlie Munger, the investing legend, once advised Warren Buffett to live life backwards.
• Think about what you want your obituary to say, and work towards it, Munger advised Buffett, he told CNBC.
• Munger died peacefully at the age of 99 on Tuesday morning. 

Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, once advised the CEO to think about what he'd want his obituary to say, then live life according to it, CNBC reported Tuesday. 

CNBC's Becky Quick said on "Opening Bell" that Munger offered Buffett, who is five years younger than him, some advice on how to live his life, years ago. 

Munger told Buffett "he should write his obituary the way he wants it written, and then live his life accordingly," Quick said. "Look at things, and live backwards."

In a recent unaired interview with Quick, Munger commented on the advice and said "It's not a bad idea" to start at the end and work backward. 

"I've written my obituary the way I've lived my life, and if you want to pay attention to it, it's alright with me. And if they want to ignore it, that's OK with me too. I'll be dead."

Munger died peacefully at a California hospital on Tuesday morning, his family told Berkshire Hathaway. 

"Berkshire Hathaway could not have been built to its present status without Charlie's inspiration, wisdom, and participation," Buffett said in a statement. 

Buffett and Munger's relationship goes back over 60 years when they were introduced by a mutual contact at a cafe in Omaha in 1959, where they were dining with their wives. 

Buffett told CNBC in 2021 that the two "hit it off," while Munger said that they "got along fine." 

Munger added: "What I like about Warren is the irreverence. We don't have automatic reverence for the pompous heads of all civilization."

The pair also discovered that they had both worked at Buffett's grandfather's grocery store as teenagers but had never crossed paths. 

Munger led Berkshire Hathaway as vice chairman since 1978 and went on to build a fortune worth $2.6 billion over his lifetime.