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Shane Parrish

๐Ÿ‘ค Speaker
14638 total appearances

Appearances Over Time

Podcast Appearances

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

What advice do you have for somebody living paycheck to paycheck?

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

You've been incredibly successful and sold over 10 million books.

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

What drives you today?

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

But if you look back 30 years ago and you could see what you've accomplished today, the financial success, the status success that you've had, you've blown away any goal that you would have had.

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

Why keep going?

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

What can money do for us and what can it do for us?

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

It's kind of like oxygen in a way, I guess, right?

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

When you have it, you never think about it.

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

But the minute you're lacking it, it's all you can think about.

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

I remember talking to Daniel Common about this, and he had a distinction between happiness and satisfaction.

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

And the distinction was happiness is an emotion.

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

Most people think they want to be happy, but it turns out that most people want to be satisfied.

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

And satisfaction was more based on the story that you can tell about your life.

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

So it actually had to do with

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

how much money you had, how much status you had, how many promotions you had.

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

You were able to tell yourself the story that I did.

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

I sacrificed all these things, maybe my relationship with my partner, in order to achieve them.

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

That makes sense sort of evolutionarily because you think about it, evolution cares about survival of the species, not the happiness of the individual.

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

I remember when I was 17 and I overheard a conversation with my parents and their financial advisor that the military had provided.

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

So both my parents worked for the military full time and they were trying to decide whether to fix the roof or fix the car and they couldn't afford to do both.

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