Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffettโs hidden struggles, Elon Muskโs sacrifices, money trauma and financial habits, how to invest wisely, and the psychology behind saving, spending, and success.
Morgan Housel is a partner at Collaborative Fund, former columnist for The Wall Street Journal, and a speaker on investing, saving, spending, and financial independence. He is also the bestselling author of books, such as: โThe Psychology of Moneyโ and โThe Art of Spending Moneyโ.
He explains:
โผ๏ธ Why more money rarely solves unhappiness
โผ๏ธ How envy and social comparison drive overspending
โผ๏ธ Why extreme wealth often comes at the cost of health and relationships
โผ๏ธ How inflated definitions of โwealthโ fuel endless consumerism
โผ๏ธ Why true happiness comes from family, friends, and health - not luxury
00:00 Intro
02:21 The Importance of Spending Money
04:31 Why Will This Podcast Make My Life Better?
07:42 Is There Something Wrong With Chasing Status?
10:14 Whatโs the Evolutionary Basis for This Stuff?
15:31 There's Always a Trade-Off
17:43 Saving Addiction
19:29 Can Money Make You Happy?
24:56 Are We All Stuck in a Status Game?
29:02 Is the "Freedom" Culture Actually Making People Unhappy?
31:00 Your Favorite Form of Saving Is Spending
33:05 Jealousy of Other Peopleโs Wealth
35:04 The Spectrum of Financial Independence
38:45 How Do People Achieve Financial Independence?
41:20 How Does Dopamine Factor Into All of This?
48:55 We're Wired to Want More
54:39 People Retiring Early Tend to Wish They Hadn't
55:40 Passive Income Myths
57:54 Ads
58:55 Do I Need to Know Economics for This?
1:04:49 Whatโs Going On in the World?
1:08:43 How Wealth Inequality Is Dividing People
1:10:38 The Charlie Kirk Shooting
1:18:52 Is There a Way Back From This Divide?
1:23:27 What Should We Be Doing to Help?
1:25:16 Are You Optimistic About the Western Economy?
1:27:11 Favorite Chapter From the Book
1:32:22 Ads
1:34:30 Why You Should Try New Things
1:37:17 Are You Chasing a Lifestyle That's Not Right for You?
1:40:35 Does Jack Think Steven Is Happy?
1:49:25 Should We Feel Guilty About Lacking Contentment?
1:52:37 The Relationship Between Money and Kids
1:55:30 The Exact Formula for Spending
2:01:53 Humble Bubble
2:03:55 Do You Have Major Regrets in Life?
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You can purchase Morganโs book, โThe Art of Spending Moneyโ, here:
https://amzn.to/3VKPajM
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