Morgan Housel – The Psychology of Money
One of my favorite financial writers, Morgan Housel, is on the Financial Independence Podcast!
I’m not the one conducting the interview this time though (all is explained in the episode).
Morgan’s insight into how to handle uncertainty, market crashes, and this weird stock boom that we now find ourselves in is invaluable so hope you enjoy it!
Big thanks to Gouri, Morgan, and the Bogleheads for making this happen!
HIGHLIGHTS
* Investing lessons from COVID-19
* Impact of the US presidential election on stocks
* Why you should plan on the world breaking every ~10 years
* The most important financial skill and why it’s important
* How to deal with greed and fear
* What you can do to get better with money
* How to use other fields to learn about investing (and the best historical period to learn from)
SHOW LINK
#Morgan #Housel #Psychology #Money
Been loving some recent podcasts on the Psychology of Money, and yours is no exception! In the FI community we talk about how to achieve FI, but then we also say that our own Behavior is more important that Tactics. Super important topic, thanks MadFientist!
Thank you for sharing this with us Brandon. Listening now again with my husband.
The best thing my wife and I have done in terms of forced frugality was move (countries) three years ago. We were forced to budget on one income though now we have two. We got a cheap rental that we still live in. We got a used car that's almost paid off. Now that we have two incomes this allows us to pay off student loans at an accelerated rate and save around 30% of our income. Once the loans are paid off in a few years that will increase savings to 50%.
Regarding "wealth is what you don't see", I was born and raised in the Netherlands and there you could recognize "old money". They drive 20 year old Land Rovers or Volvos and wear faded pants combined with a jacket with elbow patches. Sort of like your stereotypical college professor, LOL 😋
PS It looks like many in the US behave like "new money" buying big houses and luxury cars while they're not quite able to afford it yet.
Love this. Thank you so much for sharing!
Awesome channel! Keep up the great work. If you have a second go have a browse of my page and follow if you enjoy it ❤️❤️
Thank you for getting permission to share this conversation! Very appreciated