Morgan Housel

It's all subjective.

But when it comes to how you should manage your money and the lifestyle that you should live, it really bothers people.

I think part of it is because there's obviously no right answers in how to do this.

This is all very uncertain.

How to build wealth is uncertain.

How to manage it, how to spend it, it's all uncertain.

And so when you see somebody doing it differently than you are –

You take it as not like, oh, maybe that's a different way to do it.

You take it as a threat to the decisions that you make.

This is why I think the rent versus buy argument gets so heated because if you've – because honestly, it's not obviously clear which is better, rent and buy.

Anybody can make the argument either way.

But if you've –

If you have a giant mortgage and you put your life savings into your house and somebody tells you renting was better, you're like, that's a threat.

That's a threat to my identity.

And I'm going to respond viciously now.

Most people, whether it's how you invest your money, when people are like, no, Bitcoin, no, index funds.

They're just, they're different people talking over each other.

And the truth might be like Bitcoin is the absolute right way that you should invest in index funds are the exact way that I should invest.

And that's where a lot of people get like most debates about this.

There's people with different time horizons, different risk tolerances, different cultures, different family goals, and not understanding that it's OK for people to have different views.