Keep swapping your mental models
At a 2026 Family Office Club event, Richard opened a session with a challenge. Most people in the room already carry hundreds of strategies. So what will one more day add? He answered with Charlie Munger and Tony Robbins.
800 strategies already
Richard says Tony Robbins often makes this point. Most people have been to conferences, read books and heard podcasts. They may carry 800 strategies in their heads. A new one has to beat all of them, which is a tall order.
Munger's 100 models
Richard cites Munger's idea that we all run on about 100 core mental models. You should keep swapping them out. Richard adds that we need to keep sharpening them and changing their order.
State of mind
Richard then shifts to Robbins' other point. Set the models aside and look at whether you are in a peak state of mind. Your state can change how well all your existing models work.
In Richard's words
"Like, Munger says, we all operate off of 100 core mental models, and you should always be swapping them out." (Richard C. Wilson, 2026 Family Office Club event)
"that could dramatically change the impact of all of your existing mental models." (2026 Family Office Club event)
How to use this
- List the five mental models you lean on most. Ask which one is stale.
- Replace one model a quarter with a better one you have tested.
- Check your state before a big decision, not only your logic.
- At events, look for the one idea that beats what you already know.
Questions and answers
How many mental models does Munger say we use?
Richard cites Munger as saying about 100 core mental models.
Should mental models change?
Yes. Richard quotes Munger as saying you should always be swapping them out.
What does Tony Robbins add?
Richard says Robbins points out most people already carry hundreds of strategies, and stresses state of mind.
Why does state of mind matter?
Richard says a peak state can change the impact of all your existing models.