Morgan Housel breaks down the exact framework he uses to build wealth, minimize financial stress, and buy freedom.
Featured clips
Happiness vs. Satisfaction
Investing: Can You Beat the Market?
Step by Step Investing
What Should You Optimize For?
What Is Success For You?
Available Now: Apple Podcasts | Spotify | Transcript | YouTube | X
While most financial advice focuses on how to get rich, Morgan explains why the skills needed to stay rich are completely different. You will learn why “boring” investing beats complex strategies, how to avoid the social traps that destroy wealth, and the specific equation for finding contentment.
Morgan Housel is a partner at Collaborative Fund and the bestselling author of The Psychology of Money.
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Tiny Lessons
- “Wealth is what you have minus what you want.”
- “Money buys fewer bad days, not more great days.”
- “It’s really good to have people in your life who you don’t want to disappoint.”
- Luxury quickly becomes a necessity.
- Saving money is buying freedom.
- Excellence is the capacity to take pain.
- Optimize for sleeping at night, not maximizing a spreadsheet.
- Contrast drives happiness, not absolute levels.
- Nobody is paying attention to you. Stop trying to impress strangers.
- “If I can be average for 50 years, I’ll end up in the top 3% of investors.”
- “99% of Warren Buffett’s net worth was accumulated after his 65th birthday. That’s just how compounding works.”
- “Every dollar you save is a step toward independence.”
- Remember, there was a time when you wanted what you have now.
- “Nothing is more damaging to your investing psychology than getting rich quick when you’re young.”
- Passive income is largely an illusion.
- Your social network sets your expectations.
- All the time you spend thinking about things you don’t control comes at the expense of things you do control.
- Give your kids money when they need it—in their 30s—not when they’re 75 after you die.
- “Loyalty to people who deserve it is one of the most rewarding things in life.”
- “Independence is a spectrum. Even $100 in the bank beats zero.”
- “Rich-people food looks better than it tastes. Poor-people food tastes better than it looks.”
- “No generation handles their 20s with grace. That’s why every older generation criticizes the young.”
- Simple scales, fancy fails: “The simpler my finances, the higher the odds I can leave them alone for 50 years.”
- “We underestimate the odds of bad things happening. If we didn’t, we couldn’t get out of bed.”
- Very few people can beat the market.
- The biggest financial mistake you’ll make has nothing to do with money.
