The School of Greatness Do THIS To Get Rich and STAY Rich (It’s Deceptively SIMPLE!) | Morgan Housel
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Dec 13, 2023 
Morgan Housel, an acclaimed author known for his bestseller 'The Psychology of Money,' dives into the psychology of wealth in this engaging conversation. He discusses how mental patterns can limit financial success and addresses common misconceptions about becoming rich. Housel highlights the importance of historical financial wisdom and identifies the number one financial mistake many make today. His insights reveal how emotions and social comparisons impact our relationship with money, urging listeners to rethink their approach to financial well-being.
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Wealth is Relative
- Wealth is relative and comparisons influence our perception of financial status.
- We don't feel better off even with increased income because our peers also get richer.
Factors Influencing Financial Status
- Luck, short-termism, and low pain tolerance are primary factors keeping people broke.
- Financial success often involves enduring uncertainty and discomfort.
Consistency and Success
- Lewis Howes attributes his podcast success to consistent effort over ten years.
- Morgan Housel's writing journey involved 17 years and 3,500 blog posts.
