TTU147: How to Craft a Rich Life Beyond Money ft. William Green

25 snips

Jan 8, 2025

William Green, author of "Richer, Wiser, Happier", dives deep into the essence of wealth beyond money. He emphasizes the importance of meaningful relationships and personal growth while exploring emotional intelligence in investing. Green shares insights from top investors, highlighting self-awareness in decision-making and the psychological aspects of market volatility. The conversation also tackles the impact of AI on finance and the value of storytelling in demystifying investments. Ultimately, he redefines richness as a balance of purpose, fulfillment, and financial freedom.

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ADVICE

Friends Along the Path

Build "friends along the path" for support and shared learning.
Create professional or personal groups that meet regularly for deeper connection.

ANECDOTE

Neglecting Friendships

William Green neglected friendships while intensely working at Time Magazine.
He prioritized exercise to avoid burnout but realized the importance of relationships later.

INSIGHT

Components of a Rich Life

True wealth encompasses professional success, relationships, societal contribution, and well-being.
Optimize for peace of mind, as internal turmoil negates the benefits of financial wealth.

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The Inn at the end of the world

J. Howard Whitehouse

No description available.

The Soul of Wealth

50 reflections on money and meaning

Daniel Crosby

In 'The Soul of Wealth', Dr. Daniel Crosby presents 50 short essays that delve into what wealth really is, emphasizing that true wealth encompasses friends, family, health, vocation, time, leisure, and other important aspects of life. The book offers practical advice on how to balance monetary wealth with soulful wealth, covering topics such as how spending reveals values, the role of money in buying happiness, creating a good financial plan, the limitations of willpower, and mastering delayed gratification. It is designed to challenge readers' thinking, rekindle forgotten truths, and empower them to adopt a new relationship with money.

The most important thing

Jean Ure

While specific details about the plot are not readily available, Jean Ure's books generally delve into the lives of young characters navigating various challenges and learning valuable life lessons. This book is likely to follow a similar pattern, focusing on the emotional and social development of its characters.

The Idea Factory

Bell Labs and the Great Age of American Innovation

Jon Gertner

The Idea Factory traces the origins of some of the twentieth century's most important inventions, such as the transistor, laser, digital communications, and cellular telephony. The book focuses on the lives and work of brilliant and eccentric scientists like Mervin Kelly, Bill Shockley, Claude Shannon, John Pierce, and Bill Baker, who spent their careers at Bell Labs. It delves into the organizational structure and strategies that enabled Bell Labs to sustain a golden age of innovation, including the physical layout designed for serendipitous interactions and the creation of courses to diffuse knowledge. The book also distinguishes between 'invention' and 'innovation,' highlighting Bell Labs' involvement in the full vertical stack from theory to marketable products.

Fooled by randomness

the hidden role of chance in life and in the markets

Nassim Nicholas Taleb

In 'Fooled by Randomness', Nassim Nicholas Taleb discusses the pervasive influence of chance and randomness in our lives and financial markets. The book argues that humans tend to underestimate the role of luck and overestimate the role of skill, leading to biases such as hindsight bias, survivorship bias, and the narrative fallacy. Taleb emphasizes the importance of recognizing and coping with uncertainty, and he critiques the tendency to seek deterministic explanations for random events. The book is part of Taleb's Incerto series, which also includes 'The Black Swan', 'The Bed of Procrustes', 'Antifragile', and 'Skin in the Game'.

Undo It!

How Simple Lifestyle Changes Can Reverse Most Chronic Diseases

Anne Ornish

Dean Ornish

In this landmark book, Dean Ornish, M.D., and Anne Ornish present a simple yet powerful new unifying theory explaining why lifestyle changes can reverse many different chronic diseases. The book emphasizes four key areas: eating well with a whole foods, plant-based diet; moving more through moderate exercise like walking; stressing less through meditation and gentle yoga; and loving more by transforming loneliness into healing. It includes seventy recipes, meal plans, exercise recommendations, stress-reduction advice, and inspiring patient stories. Dr. Ornish's program has been shown to improve clinical outcomes, reduce costs, and is now covered by Medicare and many insurance companies.

Richer, Wiser, Happier

How the World's Greatest Investors Win in Markets and Life

William Green

In Richer, Wiser, Happier, William Green draws on interviews conducted over twenty-five years with many of the world’s greatest investors. The book highlights that the most successful investors are mavericks and iconoclasts who question conventional wisdom and think rationally, rigorously, and objectively. They maximize their odds of long-term success in markets and life by drawing insights from diverse fields such as neuroscience, economic history, psychology, philosophy, and more. Green explains how these investors can teach us not only how to become rich but also how to improve our thinking, decision-making, risk assessment, and resilience, and how to turn uncertainty to our advantage.

Power Vs. Force

The Hidden Determinants of Human Behavior

David R. Hawkins

In 'Power vs. Force,' David R. Hawkins explores the nature of true power and force, arguing that power is whole, positive, and wholesome, while force is partial, selfish, and negative. The book introduces a hierarchical scale of consciousness, ranging from 1 to 1000, where levels below 200 are considered negative and those above 200 are positive. Hawkins uses concepts from particle physics, nonlinear dynamics, and chaos theory, as well as Applied Kinesiology, to support his research. The book is divided into three parts, discussing the process of achieving one’s ultimate potential, the distinction between power and force in various aspects of life, and the evolution of human consciousness. It emphasizes the importance of integrity, understanding, and compassion in enhancing one’s level of consciousness and leading a more fulfilling life[1][3][4].

William Green, author of the book "Richer, Wiser, Happier", returns to the podcast for an eye opening conversation centered around the complexities of investing and the importance of building a rich life beyond mere financial success. We explore the idea that true wealth encompasses autonomy, meaningful relationships, and personal growth, rather than just monetary accumulation. Throughout the discussion, William shares lessons learned from interviewing some of the greatest investors, emphasizing the significance of self-awareness and understanding one’s biases in decision-making. We also touch on the current landscape of investing, including the dominance of U.S. equities and the implications of artificial intelligence in the financial world. By weaving in personal anecdotes and stories, William illustrate how to navigate uncertainty and position oneself for long-term success while maintaining a focus on what truly matters in life.

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Episode Timestamps:

01:42 - Catching up since our last conversation

07:22 - The importance of having connection and belonging along the path

13:51 - The power of friendships

20:21 - A key component to achieve success

22:20 - The pitfalls of becoming successful

26:47 - How psychology influences investment decisions and how to overcome biases

34:23 - Common biases among successful investors

41:10 - How we can broaden our perspective to include happiness in our perception of wealth

51:45 - Advice to become a healthy successful investor

56:58 - How to set yourself up to survive economic downturns

01:05:00 - How successful investors avoid being taken out of the game

01:11:15 - How successful investors use AI in their investment strategies

01:15:31 - How we can use storytelling to demystify complex financial topics

01:25:25 - Green's advice for other investors

01:31:53 - How different will the future actually be from the past?

01:38:57 - How do you identify ideas and lessons that really matters

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