The Diary Of A CEO with Steven Bartlett

Moment 157: The Money Expert's Investment Strategy NO ONE Is Talking About: Morgan Housel

Apr 12, 2024

11:25

Snipd AI

Financial expert and bestselling author, Morgan Housel, discusses the hidden costs of success in life, emphasizing the importance of understanding sacrifices and time horizons. He explores the impact of decisions on personal goals, investments, and relationships, highlighting the need to identify and pay the costs for desired outcomes.

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Quick takeaways

Success requires embracing hidden costs in life for achieving goals.

Identifying and accepting the non-monetary sacrifices essential for long-term fulfillment in various aspects of life.

Deep dives

Benefits of Using NetSuite for Business Transformation

Moving to NetSuite, a cloud financial system, has transformed businesses by integrating accounting, financial management, inventory, and HR into one platform. This shift reduces IT costs since it operates in the cloud, enabling accessibility from anywhere, and streamlines operations by consolidating multiple systems into a unified business management suite. This enhancement allows teams to focus on critical tasks, improving efficiency and productivity.

The Drawbacks of Buying a House for Financial Investment

01:01

Introduction

3min

Exploring Costs and Time Horizons in Pursuit of Success and Personal Goals

4min

Balancing Emotional and Financial Aspects of Homeownership

2min

Debunking Homeownership as a Lucrative Investment Strategy

3min

In this moment, financial expert and bestselling author, Morgan Housel discusses the hidden costs of everything in life. Morgan says that that anything good in life comes with an unseen price tag, and part of achieving success in any area of life requires putting up with unknowns and volatility. In a career this might be long hours away from your family, in a relationship it may be the sacrifices and compromises made for another person. Part of this is being aware of your time horizons in life, and the amount of time between now and your goal, determining whether you are willing to sacrifice precious time to achieve the goal. In the end, Morgan says that the key to success in life is identifying what the cost is for any decision and being willing to pay it.

Listen to the full episode here

Apple - https://g2ul0.app.link/sXZ3OZpToHb

Spotify - https://g2ul0.app.link/nAu4hnmToHb

Watch the Episodes On Youtube - https://www.youtube.com/c/%20TheDiaryOfACEO/videos

Morgan:

https://www.instagram.com/morganhousel/?hl=en

https://twitter.com/morganhousel?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

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