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Morgan Housel

πŸ‘€ Speaker
6219 total appearances

Appearances Over Time

Podcast Appearances

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

No, thanks.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Not interested.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

So that's what Harvey Firestone got right.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

He was like, it's a burden, but you still do it.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And you're still going to do it.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

I have a friend whose parents live in a 20,000 square foot house and he gave us a tour.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And the tour was basically, yeah, down that hall, there's four bedrooms that nobody ever uses.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Down this hall, there's a room.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

It was going to be a gym, but we actually put the gym downstairs.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Nobody ever uses it.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

He was giving us a tour of places that are never used.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And just like I said, they basically secluded themselves to the kitchen, living room, bedroom, and that was it.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

But I think this is why it's such a fascinating topic because people have always done that and they will always do it.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Yeah, this is what Sam Zell, who is a billionaire real estate guy, he told David Senra this.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

Sam Zell said, the only true material luxury is flying private.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

So Sam's advice, it's ambitious advice.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

He was like, get to private jet money.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

That's the only thing that makes a difference in your life.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

And obviously that's 0.0001% money.

Modern Wisdom
#1055 - Morgan Housel - Mastering the Art of Spending Money

To me, it's independence to be who you want to be.