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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

So I'm not saying this is even a bad thing.

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

It's just a real thing.

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

But we want to think that what people admire us for is our wealth.

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

And 90% of the time, if you run through the people who are most meaningful to you in your life, they don't value you for your wealth.

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

And the thing that they might value for has nothing to do with money.

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

My kids don't care in the slightest about

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

Whether my income went up last year, what our net worth is.

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

They care that I listen to them and that I play football with them in the driveway and that I read books to them and that I'm a good father.

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

I have another friend, the same friend who gave me the tour of his very large house that was mostly not used, who said, sometimes I have days where I wish my dad was just a normal guy who drove a Subaru.

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

that the money was actually getting away.

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

It was getting in the way.

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

Yes.

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

The money was getting in the way of his ability to just be a normal, good dad.

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

And when you have that much money, it was the center of everything that they did in life, was like, how do we use our money for philanthropy and the lifestyle that we live?

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

And he's like, sometimes I just want my dad to just go out and play baseball with me, to be a normal guy.

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

I think that's true for a lot of things in life.

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

If you've known someone who's dealt with infertility, they will do anything to have a kid.

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

They would chop off their arms, do anything to have a baby.

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

If you know people who have newborns, they would do anything to sleep tonight.

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

They would chop off their arms for this kid to shut up and let me sleep.