Menu
Sign In Search Podcasts Libraries Charts People & Topics Add Podcast API Blog Pricing

Morgan Housel

πŸ‘€ Speaker
6219 total appearances

Appearances Over Time

Podcast Appearances

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

And so you're like, if somebody like him, it hasn't necessarily helped him.

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

So I think for a lot of this, the flaw that people make is seem like I can learn about the psychology of wealth and money and investing and then change myself and change my behavior.

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

And I think a lot of it, a lot of the evidence is no, you can't.

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

I think the best you can do is become more aware of who you are and accept it and build a financial plan and build goals that are around that.

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

I'll give you an example of this.

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

Jeff Bezos was talking about when he started Amazon in 1994, I think it was.

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

And he used the, this is now famous, the regret minimization framework.

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

And he said, if I started Amazon and it failed, I would not regret that.

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

But if I didn't start it, I would regret that for the rest of my life.

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

And I remember hearing that and being like, that's awesome.

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

I love that.

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

And that is so not me.

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

If I put everything I had into a startup and raised money for my parents and worked 150 hours a week for five years and it failed, I would be beside myself.

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

But I'm so glad that he and other people exist.

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

Exactly.

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

And never will be.

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

And so the idea that you have to figure it out what kind of person you are.

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

And so back to like, I should not train myself to be like, how can I train myself to have the entrepreneur's mentality?

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

I don't.

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

It's okay.