The Psychology of Money w/ Morgan Housel

Published: Aug. 9, 2023, 9 a.m.

#128: Renowned financial columnist, Morgan Housel joins for a deep dive into the psychology of money. We discuss the mindset of winning investors, new ways to deal with risk and strategies to achieve financial independence, including tips to build up cash, the most essential financial hack that everyone needs to know and more. (This episode originally aired in June 2021, but I really enjoyed re-listening to it and thought you would too).\nMorgan Housel (@morganhousel) is the bestselling author of\xa0The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. He's also a partner at\xa0Collaborative Fund\xa0and a former columnist at The Motley Fool and The Wall Street Journal.\nLink to Full Show Notes: https://www.allthehacks.com/psychology-of-money-replay\n\nPartner Deals\nPacaso: Free early access to listings and $2,500+ in closing credits\nDeleteMe: 20% off removing your personal info from the web\nNotion: Try Notion AI free to automate tedious tasks and streamline your work\nVuori: 20% off the most comfortable performance apparel I've ever worn\nLMNT:\xa0Free sample pack of my favorite electrolyte drink mix\nFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals\n\nResources Mentioned\nMorgan Housel:\xa0Twitter\xa0|\xa0Blog | Website\xa0|\xa0LinkedIn\nMorgan\u2019s Book:\xa0The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness\n\nFIRE Movement Documentary: Playing With FIRE\nBenjamin Graham's Books:\xa0The Intelligent Investor\xa0|\xa0Security Analysis\nEric Johnson's Book on Nazi Germany:\xa0What We Knew\nJason Zweig\u2019s Column on WSJ\n\nFull Show Notes\n(03:21) What Drove Morgan to Write \u2018The Psychology of Money\u2019\n(04:28) Finance on Paper vs. Finance in the Real World\n(07:35) The Ultimate Goal of Learning and Mastering Money\n(09:55) Financial Independence as a Spectrum\n(15:07) Building Up Cash: To Save More or to Earn More\n(18:11) Tactics to Stop Wanting More\n(21:56) The Extremities of the FIRE Movement\n(24:07) Why People Become Irrational with Money\n(30:23) The Impact of the 29-Year Recession Gap in Australia\n(33:45) The Best Way to Learn from History for Risk Tolerance\n(43:43) An Analysis of the Best Performing Mutual Funds\n(48:52) How Overconfidence Can Lead to Trouble\n(51:39) Ways to Educate People about the Basics of Finance\n(55:18) The Volatility of Cryptocurrency\n(56:20) The Most Overlooked Aspect of Behavioral Finance\n(57:42) The Only Financial Hack You Need in Your Life\n\nConnect with All the Hacks\nAll the Hacks:\xa0Newsletter\xa0|\xa0Website\xa0|\xa0Membership\xa0|\xa0Email\nChris Hutchins:\xa0Twitter\xa0|\xa0Instagram\xa0|\xa0Website\xa0|\xa0LinkedIn\n\nEditor\u2019s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.