The Social Debt that Comes with Wealth

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With every dollar of wealth gained, there comes a bit of social debt - not actual debt, but an increase in expectations and demands on one's wealth. Athletes who come from poverty and suddenly sign multi-million dollar contracts often feel obligated to financially support their family and friends, resulting in bankruptcy. Net worth is easily calculated, but the burden of social debt goes unrecognized until it overwhelms one's life.

Everybody wants to get rich. But is the pursuit of wealth really about the money, or are we actually chasing something much deeper?

These are just a couple of the fun ideas I toss around in this episode with Morgan Housel, New York Times Bestselling author of the smash hit, The Psychology of Money, which has sold more than four million copies worldwide.

We’ll dig deep to uncover our relationship with money, answer the timeless question “Will getting rich make me happy?” and share some of Morgan’s best investing tips.

So put away your spreadsheets, step away from the credit card, and for god’s sake stop trading crypto for five seconds, and settle in for this one. We might just make you filthy fucking rich.