The difference between getting wealthy and staying wealthy

Ask a question or send feedbackAden Wilkins and David Andrew explore the psychology behind financial decision-making, drawing insights from Morgan Housel’s award-winning book, The Psychology of Money. They discuss key concepts such as why no one’s financial mindset is irrational, the difference between getting wealthy and staying wealthy, and why true wealth is often invisible. They also explore how different people play different financial games, emphasising the importance of understanding your own financial journey rather than comparing it to others. This episode is packed with practical wisdom on smart money habits, avoiding common pitfalls, and making financial decisions that align with your goals.(5:00 - 10:00) No one’s crazy – How experiences shape financial behaviour(10:00 - 16:00) Getting wealthy vs. staying wealthy – Different skills required(16:00 - 22:00) Wealth is what you don’t see (22:00 - 26:00) Why comparisons can be misleading(26:00 - 32:00) Investment mindsets and risk toleranceResources: The Psychology of Money: Timeless lessons on wealth, greed, and happiness : Housel, Morgan: Amazon.com.au: BooksThe Purposeful Investor Podcast is a public service provided for Australian investors wanting to make smart decisions with their money, avoid costly mistakes, look after the people they care about, and, have a great life!We draw on over 30 years of experience from David Andrew and the Capital Partners team.For more information on Capital Partners' award winning team, visit capital-partners.com.au. Have a question? Email us [email protected] episode provides general advice only. We do not consider your personal circumstances when we share this information. Always refer to your financial adviser for advice about your personal circumstances. Capital Partners Consulting Pty Ltd AFSL 227148 trading as Capital Partners Private Wealth Advisers ABN 27 086 670 788.