Morgan Housel

It's okay.

I think you paid last time.

So I probably owe you.

I had this conversation with someone last week and, um,

He has first-generation immigrant parents.

His parents moved here from America, moved to America and worked their tails off to support their children, including this guy.

And now he has a daughter.

And he said, Morgan, I worry that she's spoiled, certainly relative to the life that he had when he was a kid.

She has this and she has that and she can buy these toys and whatnot and she's spoiled.

And he said, what do I do about that?

And I said, I bet you if we were talking to your parents right now, they would say that was the goal.

The reason that they moved to America and worked their tails off is so that their grandchild would look spoiled by comparison.

And so there's part of me when I completely understand and I feel it as well.

the urge to not spoil my kids.

I want them to be hardworking, independent, understand the value of a dollar.

Of course, I want that.

You want that.

We all do.

I think there's also something to be said that the goal, the purpose of all of this is that so myself in the future and my kids and my grandkids and my grand-grandkids

will live in a world that by today's standards appear spoiled.