1134: The Psychology of Money with Author Morgan Housel

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 1.9K Ratings

🗓️ 14 December 2020

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mastering money has little to do with math. Instead, behavior is the most important side of investing, says today's guest Morgan Housel, author of the top-selling book The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. We discuss many of his insights including the underestimated power of luck and risk, how the only way to stay wealthy is being both frugal and paranoid, and the fallacy of 'earned success' and 'deserved failure.' Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So Money episode 1134 Morgan Housal, author of The Psychology of Money.
0:07.0	You're listening to So Money with Award Winning Money Guru Farnu
0:11.0	Farno Shorabi. Each day get a 30-minute dose of financial
0:15.3	inspiration from the world's top business minds, authors, influencers, and from Farnuosh
0:20.4	herself. Looking for ways to save on gas or double your double coupons?
0:26.0	Sorry, you're in the wrong place.
0:28.0	Seeking profound ways to live a richer, happier life.
0:31.0	Welcome to So Money. Doing well at investing.
0:34.0	Doing well with money is not necessarily about what you know or how smart you are or how
0:38.7	sophisticated you are.
0:40.2	So much of it what matters is your behavior, your psychology.
0:43.6	Welcome to So Money everybody.
0:45.6	I'm your host, Farnush Tarabi.
0:47.6	We've got an incredible guest on the show today.
0:49.7	Morgan Housal, author of the bestseller, The Psychology of Money,
0:54.7	timeless lessons on wealth, greed, and happiness.
0:59.1	It will be refreshing to hear how you don't need a PhD or go to Harvard or have extensive experience with money
1:06.8	to become super wealthy or super rich. Instead, it takes discipline. it takes a certain mindset, certain behaviors.
1:16.4	A lot of the things that we talk about on this show, but this episode and this interview
1:20.4	really ties it all together very very neatly talking about how
1:24.4	behavior is the most important side of investing and managing your money
1:29.4	wisely. You can be the best stock picker in the world, you can have the most sophisticated economic
	...

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