Episode #510

Morgan Housel’s ground-breaking book, “The Psychology of Money,” changed how many Americans thought about saving, spending, and investing. Through a collection of financial lessons, Morgan opened up new thought patterns for many of us, showcasing that getting rich isn’t as complicated as you might think, but staying rich can be the actual challenge. Now, this personal finance powerhouse is back with a new book, “Same as Ever.”

In “Same as Ever,” Morgan doubles down on what has, and most likely always will, work in the personal finance world. By showcasing some of the most commonly repeated financial events of the past, we can better shape our understanding of what will happen in the future and use history to our advantage to build even bigger wealth, enjoy our lives even more, and not repeat our past mistakes.

But this episode goes much deeper than that. We talk about why so many Americans will die without building wealth, why people are afraid to invest, when to spend your wealth once you’ve built it, and exactly how Morgan invests his own money. Plus, why getting rich isn’t your biggest concern—staying rich is.

Show Notes at:
https://link.chtbl.com/Money
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Grab Morgan’s Books:
The Psychology of Money: https://store.biggerpockets.com/produ...
Same as Ever: https://www.amazon.com/Same-Ever-Guid...
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The Simple Path to Wealth—Index Funds Explained with JL Collins:
https://www.biggerpockets.com/blog/bi...
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How to Get Rich Without Investing in Real Estate:
https://www.biggerpockets.com/blog/mo...
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Connect with Morgan:
Blog: https://collabfund.com/blog/
Twitter: @morganhousel or   / morganhousel  
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00:00 Intro

00:58 Why Financial History Repeats

07:20 Why So Many Americans Die Broke

11:15 The Competition of Life

14:29 Why Are People Afraid to Invest?

17:14 Going from Broke to Wealthy

23:12 Getting vs. Staying Rich

26:09 How to Get Your Best Work Done

30:21 How Morgan Invests His Money

34:04 Is Real Estate Investing Worth It?

38:35 Financial Regrets

40:40 Connect with Morgan!

41:37 Invest Money Like Morgan!