People often buy material goods to gain respect and admiration, but it rarely works. True respect comes from virtues, ideas, humor, and wisdom, not from possessions. A person's value to the world is not determined by their possessions. Even someone like Louis C.K., known for his humor, is not admired for his wardrobe or car. Aspiring for material goods can be a sign of trying to compensate for lacking in other areas. Material possessions can be seen as sad or cringe-inducing when they are acquired to look cool, but are valued when they are driven by genuine passion. Buying things to appear cool often has the opposite effect and is seen as a midlife crisis.
If we can't predict the future, how can we prepare for a future in which we'll thrive? We consult Same As Ever author Morgan Housel for answers!
What We Discuss with Morgan Housel:
- Why the best investment lessons won't be found in a finance textbook — they'll be found by understanding human behavior.
- Changes are exciting and novel, but most human behavior patterns are consistent over generations.
- The importance of preparedness over prediction.
- Why Morgan believes the first rule of happiness is low expectations.
- The dangers of lifestyle creep and comparison (and the early epiphany that broke Morgan free from playing this losing game).
- And much more...
Full show notes and resources can be found here: jordanharbinger.com/930
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