All compounding comes from time, and the young people have the most time in front of them. Warren Buffett's $100 billion net worth came after his 60th birthday when he was qualified for Social Security. The biggest risk is that you're going to fall victim to FOMO and salesmen and your own greed and fear. That's the biggest risk by far.
Morgan Housel, a partner at The Collaborative Fund, and author of “The Psychology of Money,” joins Scott to discuss the behaviors to consider when it comes to building wealth and the importance of earning, saving, and investing. Follow Morgan on Twitter, @morganhousel.
Scott opens with his thoughts on Meta’s move to subscription + our society’s problem with ageism and sexism.
Algebra of Happiness: know how to de-escalate a situation.
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