Charlie Munger emphasizes the importance of accumulating the first $100,000, adjusted for inflation to $200,000 today, as the crucial step toward building wealth. Alongside Warren Buffet, Munger advises that the initial accumulation requires significant effort and sacrifices, but once achieved, compound interest and momentum can significantly enhance wealth growth. He stresses that after reaching this threshold, money works harder than labor, underscoring the importance of strategic financial planning over the concept of overnight success.