The Psychology of Money w/ Morgan Housel

Partner Deals Long Angle: Join a free private community for high net worth investorsBilt Rewards: ⁠Earn the most valuable points when you pay rentQuince: Affordable luxury essentials with free shipping + 365 day returnsFabric: ⁠Affordable term life insurance for you and your familyMasterClass: ⁠Learn from the world's best with up to 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#128: Renowned financial columnist, Morgan Housel joins for a deep dive into the psychology of money. We discuss the mindset of winning investors, new ways to deal with risk and strategies to achieve financial independence, including tips to build up cash, the most essential financial hack that everyone needs to know and more. (This episode originally aired in June 2021, but I really enjoyed re-listening to it and thought you would too).Morgan Housel (@morganhousel) is the bestselling author of The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness. He's also a partner at Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.Link to Full Show Notes: https://www.allthehacks.com/psychology-of-money-replayPartner DealsPacaso: Free early access to listings and $2,500+ in closing creditsDeleteMe: 20% off removing your personal info from the webNotion: Try Notion AI free to automate tedious tasks and streamline your workVuori: 20% off the most comfortable performance apparel I've ever wornLMNT: Free sample pack of my favorite electrolyte drink mixFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/dealsResources MentionedMorgan Housel: Twitter | Blog | Website | LinkedInMorgan’s Book: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness FIRE Movement Documentary: Playing With FIREBenjamin Graham's Books: The Intelligent Investor | Security AnalysisEric Johnson's Book on Nazi Germany: What We KnewJason Zweig’s Column on WSJFull Show Notes(03:21) What Drove Morgan to Write ‘The Psychology of Money’(04:28) Finance on Paper vs. Finance in the Real World(07:35) The Ultimate Goal of Learning and Mastering Money(09:55) Financial Independence as a Spectrum(15:07) Building Up Cash: To Save More or to Earn More(18:11) Tactics to Stop Wanting More(21:56) The Extremities of the FIRE Movement(24:07) Why People Become Irrational with Money(30:23) The Impact of the 29-Year Recession Gap in Australia(33:45) The Best Way to Learn from History for Risk Tolerance(43:43) An Analysis of the Best Performing Mutual Funds(48:52) How Overconfidence Can Lead to Trouble(51:39) Ways to Educate People about the Basics of Finance(55:18) The Volatility of Cryptocurrency(56:20) The Most Overlooked Aspect of Behavioral Finance(57:42) The Only Financial Hack You Need in Your LifeConnect with All the HacksAll the Hacks: Newsletter | Website | Membership | EmailChris Hutchins: Twitter | Instagram | Website | LinkedInEditor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.