Retirement Investing #1: The Psychology of Money with Morgan Housel

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4 • 606 Ratings

🗓️ 8 September 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today I’m kicking off a 4-part series on investing in the stock market. And, I don’t think I could have found a better guest to get us started.

My favorite personal finance writer, Morgan Housel, joins us to talk about three BIG things:

Why the 60/40 portfolio isn’t dead
The history of the 4% rule and how it applies to retirement savers today
How the psychology of money applies to everyone, from boring index fund investors to stock pickers and day traders

This is my favorite interview of 2020. Period.

If you want to learn about investing from one of the smartest thinkers out there, today’s episode is for you.

Transcript

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0:00.0	Hey, everyone, really quick before we start the show, in today's episode, I interview one of the best financial writers of my generation, Morgan Housel.
0:09.0	Morgan has a new book that comes out today, and I have five copies to give away to our listeners.
0:14.5	All you have to do is send me an email at podcast at you staywealthy.com, and I'll send a copy to the first five people that I hear from.
0:22.9	Okay, on to the show.
0:26.6	Welcome to the Stay Wealthy podcast. I'm your host Taylor Schulte and today's interview kicks
0:31.1	off our first ever four-part series on investing in the stock market. And I don't think
0:36.9	we could have found a better
0:37.9	guest to get us started. Today I'm joined by the one and only Morgan Housel, partner at the
0:43.3	Collaborative Fund and winner of the New York Times Sydney Award. Without question, Morgan is my
0:49.1	favorite personal finance writer and he has a new book that comes out today called The
0:54.0	Psychology of Money.
0:55.8	You don't need to read the reviews or add it to your wish list or anything like that.
0:59.4	Just go buy it right now.
1:00.8	Trust me, this is the best finance book of 2020 and every single investor will benefit from
1:06.9	his wisdom.
1:07.9	For all the links and resources mentioned today, including links to three of my
1:12.0	favorite articles that Morgan has written, head over to you staywealthy.com forward slash 81.
1:22.1	So one of the things that I regularly repeat on the show and also with clients is that when
1:28.3	it comes to making financial decisions, there's the textbook answer and then there's your
1:32.6	answer.
1:33.6	So I'd love to kick off this conversation by you sharing your decision to pay off your mortgage,
1:39.0	even though you're a young investor.
	...

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