In 'How to Get Rich,' Felix Dennis shares his insights and experiences on building wealth. The book is distinct from other self-help or get-rich-quick guides as it emphasizes the importance of hard work, calculated risks, and ownership. Dennis discusses the necessity of execution over great ideas, the role of luck, and the need to overcome fear and embarrassment of failure. He also highlights the importance of maintaining control over one's business and the sacrifices required to achieve significant wealth. The book is known for its blunt and practical advice, reflecting Dennis's own journey from a college dropout to a multi-millionaire[2][4][5].
In 'The Psychology of Money,' Morgan Housel delves into the psychological and emotional aspects of financial decisions. The book consists of 19 short stories that illustrate how personal history, worldview, emotions, and biases influence financial outcomes. Housel emphasizes the importance of behavior over knowledge in managing money, highlighting the power of compounding, the dangers of greed, and the pursuit of happiness beyond mere wealth accumulation. He advocates for a frugal lifestyle, long-term perspective, and a balanced approach to investing, stressing that financial success is more about mindset and discipline than about technical financial knowledge[2][3][4].
Protocols provides simple, powerful, and evidence-based solutions to life’s most common challenges. Designed to improve your mental health, physical health, and performance, these guidelines are customizable, allowing you to adapt them to your specific needs. With his clear and engaging style, Dr. Huberman explains the scientific principles behind each protocol and how they can deliver immediate, effective results. Protocols is your essential road map for achieving optimal health.
In this book, Karl Pillemer compiles 30 key lessons for living a fulfilling life, derived from his five-year project of interviewing more than 1,000 Americans over the age of 65. The book covers a wide range of topics including marriage, parenting, career, aging, and living without regrets. It weaves together personal recollections and hard-won advice from these 'wisest Americans,' providing practical and inspirational guidance for readers. The lessons are categorized into areas such as happy marriages, successful careers, effective parenting, and aging fearlessly, offering a comprehensive guide to living well[1][2][3].
In this episode, my guest is Morgan Housel, an expert in private wealth generation and management and author of the bestselling book The Psychology of Money. We discuss how desiring, pursuing, saving, and spending money impact our psychology and perception of wealth. We explore why people tend to either overspend or oversave and examine the most common mistakes made in the pursuit of financial freedom. Additionally, we discuss how to best use money — and one’s relationship with it — as a tool to create psychological security, freedom, and a deeper sense of life purpose.
We also delve into the impact of purchases, social media, and wealth signaling on our internal reward circuits, the dangers of using money as a gauge of career progress or self-worth, and the healthiest psychological stances to adopt while building wealth at any level. By the end of the episode, listeners will have gained numerous practical tools for making smarter financial decisions and should have a clearer understanding of the role money plays in their psychology, happiness, and life.
Access the full show notes for this episode at hubermanlab.com.
Pre-order Andrew's new book, Protocols: protocolsbook.com
Thank you to our sponsors
AG1: https://drinkag1.com/huberman
Wealthfront**: https://wealthfront.com/huberman
BetterHelp: https://betterhelp.com/huberman
ROKA: https://roka.com/huberman
Function: https://functionhealth.com/huberman
**This experience may not be representative of the experience of other clients of Wealthfront, and there is no guarantee that all clients will have similar experiences. Cash Account is offered by Wealthfront Brokerage LLC, Member Finra/SIPC. Promo terms and FDIC coverage conditions apply. Same-day withdrawal or instant payment transfers may be limited by destination institutions, daily transaction caps, and by participating entities such as Wells Fargo, the RTP® Network, and FedNow® Service. New Cash Account deposits are subject to a 2-4 day holding period before becoming available for transfer.
Timestamps
00:00:00 Morgan Housel
00:02:13 Sponsors: Wealthfront & BetterHelp
00:05:11 Spending Habits & Cynicism
00:08:44 Tool: Money & Future Regrets
00:16:07 Money Management Extremes; Credit & Hope
00:23:17 Money as a Tool, Happiness, Independence & Purpose
00:27:30 Sponsors: AG1 & ROKA
00:30:11 Unstructured Time; Independence, Identify & Money; Addiction
00:39:04 Longevity, Health & Money
00:47:42 Ambition, Social Media, Fame & Social Debt
00:53:37 Sponsor: Function
00:55:24 Resume Virtues vs. Eulogy Virtues
00:57:52 Compound Interest, Math vs. Behavior
01:01:42 Dopamine & Time, Marshmallow Test & Distraction
01:09:58 Motivation, Pleasure; Relationships
01:14:38 Freedom, Tool: Savings & Independence
01:19:06 Peak-End Rule, Autonomy & Independence; Elder vs. Elderly
01:24:07 Familial Wealth & Identity; Entrepreneurs
01:31:53 Life Purpose; Dogs; Social & Historical Comparison
01:39:58 Social Comparison & Geography, Angst
01:46:07 Carrot vs. Stick, Identity, Tool: Verb States & Energy
01:56:43 Envy & Spending Money; Wealth & Birth Rates
02:01:27 Tools: Parent Modeling; Resentment, Individual Goals
02:07:15 Purpose, Happiness & Money
02:13:05 Zero-Cost Support, YouTube, Spotify & Apple Follow & Reviews, Sponsors, YouTube Feedback, Protocols Book, Social Media, Neural Network Newsletter
Disclaimer & Disclosures
Learn more about your ad choices. Visit megaphone.fm/adchoices
Huberman Lab 
