Morgan Housel

He deserves my loyalty.

And it feels good.

It feels not just good.

It feels tremendous to give it to him.

He deserves it.

And so I think when you experience that in life, when somebody deserves your loyalty and you give it back, it's not just rewarding to the other person.

It's rewarding for you personally.

Thanks, Shane.

Let's do it a fourth time in the future.

people talk a lot about passive income which is not a thing look there's two ways to get wealthier and passive income is not part of that equation but what's really important for people is how we should spend money because i've written about money and finance and investing for 20 years and i can tell you the correlation between how much you spend and how happy you are it can exist but it is not as simple as you think

Morgan Housel is the legendary financial guru revealing that everything we've been told about saving and spending money could be our biggest downfall.

And here's why.

If you're unhappy with your life, it is a very easy assumption to make that if you had more money, a bigger house, a better car, whatever it might be, things would be better.

And it's a lie we tell ourselves, of course.

Because here's the truth, so much of spending is a psychological itch that you're trying to scratch.

And that manifests in so many different ways.

For example, life is a competition.

It doesn't matter how well I'm doing, it matters how well I'm doing relative to you.

And the most tangible way to do that is the material stuff.

It's an amazing statistic.