Morgan Housel

High school, college, I was a man hanging out with my buddies and parties.

And we did this crazy thing.

We did that crazy thing.

And one of the common denominators of that era, of that age, is you have no money.

But you're still very capable of having a great time with your friends and laughing and going out and going to parties and going on road trips, whatever it might be.

And so the things that make my wife and I happy, we like walking our dog and we liked that 10 years ago as much as we do today.

And even before we had a dog, we like going for walks and doing this.

We like laughing and talking about things and whatnot.

It's things that don't cost any money whatsoever.

And I think that is a perfect example of the list of things that money cannot do for you.

And so if I look at my own life relative to who I was 10 years ago, does my wife love me more?

No.

Do my kids love me more?

No.

Now the psychology of downgrades can play back in here because what would happen if my career imploded and it was my fault?

Would my wife might love me less?

Like maybe because the psychology of downgrades and taking care of your family, that plays a role in there.

Would my kids think less of me if we had to fire sale our house and move into a Rocheville apartment?

Like maybe.

So there is some element, particularly on the way down, but definitely on the way up.