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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!

Elon Musk was born wired very differently than you and I. And there's nothing we can do about that.

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

So we are who we are.

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

But I think we can...

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

put those feelings into a better context.

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

Even if we can't control having those feelings, we can choose, we can tell ourselves a more complete story about why we're having those feelings and what those aspirations will actually do to our happiness.

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

Well, one of the things this is a little bit different than the question that you asked.

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

But one of the things that's important is that a lot of the people who do retire early, who they tell themselves, I'm going to save so much money.

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

I'm going to retire when I'm 32 and then life's going to be great.

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

What actually happens is they retire at 32.

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

And six months later, they're bored out of their mind.

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

And they realize that like what actually makes you happy is purpose.

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, their purpose can be their career.

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

Or they realize they had this idea that when they retired, it was just going to be a great life.

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

But the truth is all of their friends are working and don't have time to go play golf with them on Tuesday afternoon.

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

And so a lot of people who retire early end up going back.

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

They realize it was not what it was made out to be.

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

Because if the formula is independence plus purpose, they gained independence, but they kind of lost their purpose.

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

And so it was incomplete.

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

They didn't get what they wanted.

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

Because for example, a lot of people, when they talk about passive income, they're like, oh, I'm going to own real estate.