Morgan Housel

Yeah.

I mean, in terms of the dollars accumulated, that's true.

So I wrote about this in Psychology Money.

99% of Warren Buffett's net worth was accumulated after his 65th birthday.

That's just how compounding works.

The numbers get nuts at the end.

I think what can be true psychologically, though, it's just the psychology of doubling your net worth.

I think the truth is I felt the richest I ever have.

When I had like $1,000 in the bank when I was a teenager, I remember just being like that's – like I can't even fathom that much because the gap between – a year earlier, I probably never had more than $20 in my banks and I have $1,000.

Like what?

I can't even fathom that much money.

And so like psychologically, it's just the gap between – this is true for a lot of things.

You get pleasure out of contrast, right?

It's just how much, what do you have now and what are you doing now relative to what you were doing before?

And so I write about in the art of spending money, I know a guy who has a private chef and he's basically getting Michelin star meals, three meals a day.

And it's easy for me and you to look at that and being like, that is amazing.

What a life, like that is nuts.

I guarantee you he does not feel that much from it because he has no contrast.

He's not eating taco.

He's not eating stale bread for breakfast the day before.