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The Tim Ferriss Show

#702: Morgan Housel — Contrarian Money and Writing Advice, Three Simple Goals to Guide Your Life, Journaling Prompts, Choosing the Right Game to Play, Must-Read Books, and More

Oct 31, 2023
#702: Morgan Housel — Partner at The Collaborative Fund and author of The Psychology of Money. Interesting topics: managing social debt, exploring options for a large amount of money, the influence of incentives on views and actions, impressing others vs personal qualities, adapting and trying something different, the power of persistence and intriguing interviews, the significance of the Triangle Fire and its impact on worker rights, exploring the intriguing life of FDR and Eleanor Roosevelt during World War II, the strange last voyage of Donald Crowhurst, the Tao of Charlie Munger and expressing admiration and promoting products.
02:18:21

Episode guests

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Quick takeaways

  • Money does not create happiness; it can enhance contentment.
  • Having wealth amplifies existing qualities, revealing true character.

Deep dives

The Impact of Money on Happiness and Contentment

While money can provide contentment and reduce the number of sad days, it does not necessarily lead to happiness. Happiness is derived from experiences and moments of joy, while contentment is a state of satisfaction and lack of anxiety. Money may enhance one's contentment by improving their lifestyle and reducing financial worries, but it cannot create happiness in and of itself.

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