The Investment Strategy To Build Generational Wealth (ft. Morgan Housel)

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 20 December 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 533: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Morgan Housel about the psychology of building generational wealth and the one strategy that works better than any 20% return. No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd — Show Notes: (0:00) Intro (2:30) Strive for averageness (12:00) Financial anti-goals (14:30) Sam and Morgan argue about money and anxiety (17:30) Biggest psychological trap with money (22:00) The biggest risk no one is talking about (26:00) Worry about what doesn't change (29:00) How to action sameness (32:00) Morgan's history book diet — Links: • Same as Ever - https://tinyurl.com/2zd2u9mt • Psychology of Money - https://tinyurl.com/yc423xct — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com Check Out Shaan's Stuff: • Try Shepherd Out - https://www.supportshepherd.com/ • Shaan's Personal Assistant System - http://shaanpuri.com/remoteassistant • Power Writing Course - https://maven.com/generalist/writing • Small Boy Newsletter - https://smallboy.co/ • Daily Newsletter - https://www.shaanpuri.com/ Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more. — Other episodes you might enjoy: • #224 Rob Dyrdek - How Tracking Every Second of His Life Took Rob Drydek from 0 to $405M in Exits • #209 Gary Vaynerchuk - Why NFTS Are the Future • #178 Balaji Srinivasan - Balaji on How to Fix the Media, Cloud Cities & Crypto • #169 - How One Man Started 5, Billion Dollar Companies, Dan Gilbert's Empire, & Talking With Warren Buffett • #218 - Why You Should Take a Think Week Like Bill Gates • Dave Portnoy vs The World, Extreme Body Monitoring, The Future of Apparel Retail, "How Much is Anthony Pompliano Worth?", and More • How Mr Beast Got 100M Views in Less Than 4 Days, The $25M Chrome Extension, and More

Transcript

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0:00.0	What matters is not necessarily what are the best returns you can earn this year?
0:04.8	That's what everyone chases, but that's not what matters. What matters is what are the best returns that you can sustain
0:09.6	for the longest period of time. I feel like I can rule the world.
0:13.2	I know I could be what I want to.
0:15.4	I put my all in it like no days off on the road.
0:19.4	Let's just get right into it.
0:21.4	Morgan, what's going on man?
0:22.1	I'm happy you're here.
0:23.4	I'm happy to be here.
0:24.0	Thanks for having me, guys.
0:25.2	I read the book, your first big hit Psychology of Money
0:28.8	a while ago, was that four years ago?
0:30.8	About, yep.
0:32.1	Yeah, and then this new one just came out. What's it called
0:33.8	same as ever? That's right. Yeah, man. And people are I, the Goodreads reviews are
0:39.4	higher on the most recent one, I in the first one so congratulations.
0:43.4	No thanks it's always it's always I think with all books and all articles this is
0:47.6	probably true for podcast too you really never know what's going to work
0:50.6	and what's not and even I've been a writer for 17 years and I still really don't know when I
0:55.5	publish something, a blog or a book, how it's going to be received. And maybe you get a little bit better
1:00.5	around the edges, but it's always like you just have to birth
1:02.7	it's going to do whatever it's going to do. All right everyone a quick break. If you're
	...

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