Morgan Housel
👤 SpeakerAppearances Over Time
Podcast Appearances
I'm making this up.
This is not an actual study.
But I've always thought that 10% of people do not need financial advice.
They just get it intuitively.
They came out of the womb understanding compound interest.
They're savers from the day that they earned their first dollar.
They just get it.
Nobody has to tell them.
Another 10% of people cannot be helped.
They're compulsive gamblers.
It doesn't matter what you tell them, what information you give them, they're always going to make terrible decisions.
It's probably true for health as well.
And so I think in here that is that there is a lot of this.
This is just who we are.
And some people are more impatient than others.
I do think there is a thing where...
even so within that framework that I said, 10% don't need help, 10% can't need help.
That leaves 80% who want and need good advice and can be influenced with good information.
And I think within that, there is a lot of things.
I've done a lot of work with high school students.