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Morgan Housel

๐Ÿ‘ค Speaker
3750 total appearances

Appearances Over Time

Podcast Appearances

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And I, uh,

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

I wonder in that moment if he had a couple seconds of realizing he was about to die and his life flashes before his eyes.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And I imagine just knowing him, the life he lived, if his life flashed before his eyes, he was probably like,

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

fuck yeah, I did it.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Like I did some cool things.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And so like, so what are you going to regret?

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And I've been a big saver my whole life, my whole adult life.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And if I were in that situation tomorrow, heaven forbid, I would not have the regrets for the trips I didn't take and whatnot, because I would take so much pleasure knowing that because I saved my wife and kids are going to be okay.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Nothing would matter more to me than that.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And I would massively regret it if I was staring down that barrel, so to speak, knowing that not only am I gone, but my wife and kids are in trouble now because that would leave me just overwhelmed with regrets.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

So it is never as simple as being like live for today or save for tomorrow.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

It's always just what are you likely to regret at some point in the future?

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

It could be a year from now.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

It can be on your deathbed 70 years from now, whatever it is.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Always thinking about your capacity for regret, what you are likely to regret.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And my regret is probably different than yours.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Very different from mine was from Kip's.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

And so I think that's how I think about it.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

You have to think constantly about what you're likely to regret in the future.

The Knowledge Project
Morgan Housel: Wealth is What You Have Minus What You Want

Someone asked me about this recently and I thought it was interesting.