SOLVED with Mark Manson

What Nobody Tells You About Getting Rich (ft. Morgan Housel)

252 snips
Nov 8, 2023
Morgan Housel, a New York Times bestselling author and partner at Collaborative Fund, shares his deep insights on wealth and happiness. He discusses the real motivations behind chasing riches and how financial success often complicates personal joy. The conversation reveals the psychological challenges of stock market investing and the effects of social media on our perceptions of wealth. Housel emphasizes the importance of lasting relationships over money and addresses the vital lessons in teaching children about financial responsibility in a materialistic world.
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INSIGHT

Wealth as Status

  • Humans prioritize status over happiness, and wealth is a tangible status symbol.
  • People compare their wealth to others, creating anxiety even when things improve objectively.
ANECDOTE

Money Changes People

  • Morgan Housel discusses how money and fame changed Elon Musk and Donald Trump.
  • He uses their examples to illustrate how wealth can alter personality.
INSIGHT

Dopamine of Wealth

  • Gaining wealth is euphoric, having it is okay, and losing it is devastating.
  • This dopamine-driven cycle explains why people take excessive investment risks.
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