TGL030: The Psychology of Money with Morgan Housel (Finance Podcast)

On today’s show, venture capitalist and finance writer, Morgan Housel joins me to talk about his new book, The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.

We talk about the role that emotions like greed and fear play in investing. Morgan explains why people with no formal finance training can have excellent investment records. Why 90% of investing comes down to mastering three things: living below your means, investing for the long-term, and expecting volatility. We discuss the difference between being rich and being wealthy, and what the ultimate purpose of wealth is. Morgan also shares his secret for pulling out lessons from history to make better decisions today. This one is packed full of stories and knowledge.

IN THIS EPISODE, YOU'LL LEARN:

• Why personal finance is more personal than it is finance
• Why people with no formal finance training can have excellent investment records.
• How our emotions like greed and fear impact our investment returns
• Why 90% of investing comes down to mastering three things: living below your means, investing for the long-term and expecting volatility
• Why it’s more important to be reasonable with your finance decisions than to be rational
• How our personal experience shapes our approach to investing
• The difference between being rich and being wealthy
• Why buying nice stuff is by and large a social signal
• How wealth creates options, and options create happiness

BOOKS AND RESOURCES

• The Psychology of Money by Morgan Housel
• The Collaborative Fund
• Get the most competitive rate if you’re looking to get a mortgage or refinance in Canada with Breezeful. Plus, get a $100 Amazon.ca gift card at your closing.
• Capital One. This is Banking Reimagined. What’s in your wallet?
• Browse through all our episodes (complete with transcripts) here.
• Support our free podcast by supporting our sponsors.

CONNECT WITH MORGAN HOUSEL

• Twitter: @morganhousel

GET IN TOUCH WITH SEAN MURRAY

• Sean's Twitter Account
• Sean's LinkedIn Account
• Email: Sean@TheInvestorsPodcast.com
• Website: RealTime Performance, Inc.
• Weekly Newsletter: RealTime Performance Newsletter

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