#222 - Morgan Housel - How To Become Wealthy, Stay Wealthy & Be Happy

Modern Wisdom

Chris Williamson

Society & Culture, Health & Fitness

4.6 • 5.9K Ratings

🗓️ 21 September 2020

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Morgan Housel is a writer and investor. It doesn't matter if you earn £10m a year, if you spend £11m then you're not creating any wealth. How can people who are so rich be so stupid with money? Cue Morgan, the no-BS finance guy. Expect to learn Morgan's golden rule of becoming wealthy, why luck & risk are the same thing, why buying a Ferrari is often a terrible idea, what the stock market was thinking in 2020, whether we'll have a mud wrestling match and much more... Sponsor: Get 20% discount on Reebok’s entire range including the amazing Nano X at https://www.reebok.co.uk (use code MW20) Extra Stuff: Buy The Psychology Of Money - https://amzn.to/2xAHWXD Follow Morgan on Twitter - https://twitter.com/morganhousel Get my free Ultimate Life Hacks List to 10x your daily productivity → https://chriswillx.com/lifehacks/ To support me on Patreon (thank you): https://www.patreon.com/modernwisdom - Get in touch. Join the discussion with me and other like minded listeners in the episode comments on the MW YouTube Channel or message me... Instagram: https://www.instagram.com/chriswillx Twitter: https://www.twitter.com/chriswillx YouTube: https://www.youtube.com/ModernWisdomPodcast Email: https://www.chriswillx.com/contact Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Oh, hello friends, welcome back.
0:03.0	My guest today is Morgan Howesle.
0:04.8	You should be familiar with him,
0:06.2	considering he's been on twice already in 2020,
0:09.5	but it's a year of financial instability to say the least.
0:14.3	And Morgan's new book, The Psychology of Money,
0:16.5	is everything you need to know about how to become wealthy,
0:19.4	stay wealthy and be happy.
0:21.4	It doesn't matter if you earn 10 million pounds a year,
0:23.6	if you spend 11, and you're not creating any wealth,
0:26.6	it's a little bit weird that people can be so rich
0:29.0	and yet so stupid at the same time.
0:31.4	But thankfully Morgan is here to help us through
0:33.8	with his no BS finance advice.
0:36.1	So today, expect to learn Morgan's golden rule
0:38.4	of becoming wealthy.
0:39.5	I look and risk the same thing.
0:41.4	I'm buying a Ferrari is often a terrible idea.
0:44.2	What the hell, the stock market was thinking in 2020,
0:47.5	whether he'll mud wrestle me,
0:49.6	and much more, I love having Morgan on the show.
0:52.7	Hopefully there won't be any more global crises
	...

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