10% Happier with Dan Harris The Psychology of Money | Morgan Housel
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Jan 9, 2023 
Morgan Housel, author of 'The Psychology of Money' and partner at the Collaborative Fund, dives deep into the complex relationship between money and happiness. He distinguishes between being rich and being wealthy, emphasizing the importance of understanding what 'enough' truly means. Housel explains that financial success relies more on behavior than intelligence and shares how personal experiences shape our financial perspectives. The conversation encourages listeners to balance wealth with true contentment and manage expectations around money.
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Smart vs. Sensible
- Financial success isn't about intelligence, it's about behavior.
- Control over greed and fear matters more than a Harvard PhD.
Investing for Novices
- Consistently invest in low-cost index funds.
- Avoid constant fiddling; leave investments alone for the long term.
Physician Investors
- Dan Harris's and Morgan Housel's parents, both physicians, invested simply.
- They dollar-cost averaged into index funds, achieving high returns.
