Morgan Housel on The Illusion of Wealth and Happiness | #599
Today’s guest is Morgan Housel, the bestselling author of The Psychology of Money and Same As Ever. His books have sold over nine million copies. His new book releasing in October is The Art of Spending Money. Morgan is a partner at The Collaborative Fund and serves on the board of directors at Markel. In today’s episode, Morgan discusses the complexities of wealth, spending, and happiness. He shares insights on the psychological implications of financial identity and the importance of independence and purpose in achieving true happiness. One theme throughout is that investing is more about human behavior than financial principles.
Key Points
- Morgan Housel emphasizes the importance of understanding personal happiness and fulfillment when it comes to spending money, rather than adhering to societal norms or pressures.
- The gap between what you have and what you want is crucial for feeling wealthy, with the latter being more significant in determining true financial contentment.
- The concept of wealth is deeply personal and relative, where true wealth is determined by the gap between what you have and what you want, emphasizing the importance of contentment and managing desires.
Follow Morgan: Website; LinkedIn; X
Resources: The Psychology of Money Same As Ever The Art of Spending Money
Sponsor: AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online.
Chapters
| 0:00 | |
| 1:31 | |
| 2:01 | |
| 3:38 | |
| 7:15 | |
| 11:17 | |
| 16:01 | |
| 22:07 | |
| 27:45 | |
| 37:30 | |
| 50:13 |
Transcript
Loading transcript...