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Morgan Housel

๐Ÿ‘ค Speaker
3750 total appearances

Appearances Over Time

Podcast Appearances

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

Those are dependence on things that you don't want.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

But I want to be dependent on my family because that gives me purpose.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

To make the choice of who you're going to be dependent on, right?

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

If you try to get technical about it, I would say, what are the odds that at some point in your life, you're going to lose your job and not be able to find another job for six months?

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

The odds are not bad that that will happen to you at some point.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

Not very comfortable to think about.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

Maybe it's already happened to you already.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

But the odds that at some point that will happen are pretty good.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And therefore, if you were to say, like, look, a good measure of...

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

Some level of higher end independence, not a low level of independence, but like a medium level of independence is six is is I can keep myself going for six months.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And for a lot of people, that's a daunting task.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And it's OK.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

You're probably not going to achieve that when you're 18.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And it's going to take some savings to get there.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

But that is a level at which you can exhale to a degree that most people have never been able to do before of like there's going to be some bad stuff happening in your life.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

It's going to be uncomfortable, but it's going to be OK.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

Yeah.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And for most people, for most of history, it was there's bad things gonna happen to you and you're not gonna be okay.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

It's gonna be very traumatic.

The Diary Of A CEO with Steven Bartlett
Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

And one of the important things there is when you lose that job, the ability to go find a good job, even a better job, where you want, doing what you want with the people who you like working with is very important.