Morgan Housel on Investing, Wealth, and Financial Freedom for Entrepreneurs | Finance | YAPClassic

Morgan Housel made his first investment at 18, putting $1,000 into a certificate of deposit at his local bank. When he started earning interest on that saving, he was hooked. He dove into books on finance, investing, and wealth building, eventually becoming a financial columnist for The Motley Fool and The Wall Street Journal. In today’s episode, Morgan shares why he thinks personal finance is more like psychology than physics, some of the common emotional pitfalls that can derail your financial planning, and much more.

In this episode, Hala and Morgan will discuss:

(00:00) Introduction

(05:49) Early Financial Experiences

(09:05) The Life-Changing Ski Accident

(16:17) Career at Motley Fool and Transition

(18:07) Writing and Publishing Books

(28:30) The Psychology of Money

(32:09) Personal Financial Philosophy

(36:53) The Purpose of Money

(38:40) Emotional Pitfalls in Personal Finance and Investing

(42:39) The Art of Keeping Wealth

(44:40) Balancing Optimism and Pessimism in Business

(51:21) The Long Tail Strategy in Investing

(54:10) The Importance of Patience in Investing

(01:00:10) Preparing for Unseen Risks

(01:07:08) The Role of Stress and Incentives in Success

(01:12:05) Permanent vs. Expiring Information

Morgan Housel is a partner at The Collaborative Fund. He's the author of the bestselling book The Psychology of Money. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award. In 2022, MarketWatch named him one of the 50 most influential people in markets. He serves on the board of directors at Markel. 

Resources Mentioned: 

Morgan’s Podcast: youngandprofiting.co/3ELHGYl

Morgan’s Book, Same as Ever: youngandprofiting.co/4jZGalU 

Morgan’s Book, The Psychology of Money: youngandprofiting.co/4gIFP3U 

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