Moment 157: The Money Expert's Investment Strategy NO ONE Is Talking About: Morgan Housel

The Diary Of A CEO with Steven Bartlett

FlightStory

Society & Culture, Business, Education

4.6 • 13.2K Ratings

🗓️ 12 April 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this moment, financial expert and bestselling author, Morgan Housel discusses the hidden costs of everything in life. Morgan says that that anything good in life comes with an unseen price tag, and part of achieving success in any area of life requires putting up with unknowns and volatility. In a career this might be long hours away from your family, in a relationship it may be the sacrifices and compromises made for another person. Part of this is being aware of your time horizons in life, and the amount of time between now and your goal, determining whether you are willing to sacrifice precious time to achieve the goal. In the end, Morgan says that the key to success in life is identifying what the cost is for any decision and being willing to pay it. Listen to the full episode here Apple - https://g2ul0.app.link/sXZ3OZpToHb Spotify - https://g2ul0.app.link/nAu4hnmToHb Watch the Episodes On Youtube - https://www.youtube.com/c/%20TheDiaryOfACEO/videos Morgan: https://www.instagram.com/morganhousel/?hl=en https://twitter.com/morganhousel?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Must remember, do not forget.
0:07.4	Remind me to bring photo ID.
0:10.4	Reminder, set.
0:12.1	Babe, can you make sure I don't forget my photo ID when I vote?
0:16.0	All right, love.
0:17.0	However you remember, you'll need photo ID to vote on the 2nd of May.
0:22.0	Don't have ID.
0:23.1	Apply for free voter ID now.
0:25.3	Find out more at Electoral Commission.org.
0:27.7	UK slash voter ID. Confidence, which comes from success often, really does create blind spots and that's something I think about so much, like, how do I stay aware of those blind spots in my life that you know the success
0:46.3	I've had in various areas has undeniably created and honestly a lot of I just
0:50.7	go just save loads of money Steve because the day you're wrong you don't want to go broke.
0:55.0	I also don't think about that like whenever the curtain comes down in my career I want to make sure that I can say like hey
1:00.3	thank you for for letting me have this.
1:04.1	I'm so grateful for it, but I've saved enough
1:06.5	that I'm ready to pass a baton to someone else.
1:09.0	And that's a form of humility, too.
1:11.1	There's a quote from Denzel Washington where he's talking to Will Smith after
1:14.1	Will Smith slapped Chris Rock. Remember that whole debacle? After that show, Denzel
1:18.4	Washington comes up to Will Smith and he says, Will, when you're at your highest moment in your career,
1:23.5	that's when the devil's going to get you.
1:25.6	And it's like when your career is so high
	...

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