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Shane Parrish

๐Ÿ‘ค Speaker
16064 total appearances

Appearances Over Time

Podcast Appearances

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

And I always ask myself and others, like, what would you do if nobody was watching?

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

What would you wear?

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

But isn't that like, that's the pinnacle.

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

Like that is in a way a definition of success.

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

I think for people who travel all the time, like you and I, travel definitely becomes something that you probably spend what your younger self would consider an obscene amount of money on.

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

Yeah, or flying overseas and giving a talk the next day.

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

What can history teach us about inflation?

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

And what advice would you have for somebody today about dealing with inflation?

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

All the time you spend thinking about something you don't control comes at the expense of something you do control.

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

Yeah.

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

Save an extra dollar or sort of buying more independence.

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

I love that idea of buying independence for your money.

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

It seems like pace affects a lot of what we do financially.

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

And by pace, I mean

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

We know the path to get wealthy, at least generally speaking in life.

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

It's to save a little bit of money, dollar cost average into index funds, and repeat for 20, 30, 40 years.

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

And that is about as sure of a path to gain wealth.

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

And yet we have this lack of patience, in part because we see other people getting wealthier faster than us.

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

And I have this saying, a lack of patience changes the outcome.

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

But