Morgan Housel - Contrarian Money and Writing Advice, Three Simple Goals to Guide Your Life, and More

Рет қаралды 116,479

Күн бұрын

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Morgan's new book: www.amazon.com/Same-Ever-Guid...
Resources from this episode: tim.blog/2023/10/31/morgan-ho...
Morgan Housel (@morganhousel) is a partner at The Collaborative Fund. His book The Psychology of Money has sold more than three million copies and has been translated into 53 languages.
He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and winner of the New York Times Sidney Award. In 2022, MarketWatch named him one of the 50 most influential people in markets. He serves on the board of directors at Markel.
Morgan’s new book is Same As Ever: A Guide to What Never Changes. You can find my first, widely popular interview with Morgan at tim.blog/morganhousel.
Please enjoy!
00:00 Intro
01:29 Buffett's Snickers.
06:38 What prompted Morgan to write Same As Ever?
12:14 Morgan's worst advice for aspiring writers is what works for him.
16:24 The upsides of being rich and anonymous.
19:56 Tips for raising unspoiled kids.
28:22 Should families avoid passing along dynastic wealth?
30:54 Finding worthy charities and causes.
35:18 Money and happiness.
43:04 Avalanches and other random, life-changing flukes.
49:28 We can prepare for the future, but we can't predict it.
56:11 What current unknowns will seem shockingly obvious in a year?
58:38 Which of our current views would change if our incentives were different?
1:01:46 The most valuable personal finance asset.
1:04:26 Optimizing the chance of marrying the right person.
1:07:20 Mending divergence in a marriage or relationship.
1:10:40 Trying to eliminate a hassle that's an unavoidable cost of success.
1:30:19 Guessing at the future of text vs. audio/video.
1:34:56 Books vs. podcasts.
1:44:56 Recommended reading.
2:04:30 Has writing Same As Ever changed how Morgan operates in the world?
2:06:22 Who is the intended audience for Same As Ever?
2:08:32 Parting thoughts.
Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 900 million downloads and been selected for “Best of Apple Podcasts” three years running.
Sign up for "5-Bullet Friday" (Tim's free weekly email newsletter): go.tim.blog/5-bullet-friday-yt/
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Пікірлер: 105

@timferriss 8 ай бұрын

@GabeBridges 8 ай бұрын

Morgan is a GEM for our times. I think a big part of what makes him special is that he has zero ego and no agenda. And of course he is also super smart, well read, analytical, down to earth, a great communicator and seemingly very approachable. The Psychology of Money is one of my favorite books of all time.

@chazmcgooski83 8 ай бұрын

Seconded

@bethanychristiansen7499 2 ай бұрын

Very well said. Agree 100%

@AndrewTJohn 8 ай бұрын

Morgan is one of the clearest & thoughtful thinkers of our generation. Loved this episode!

@davidobannon6250 6 ай бұрын

Agreed

@kyleinpa5285 8 ай бұрын

I’ve listened to Dave Ramsey for almost 20 years. He’s great. But there is no one who’s views on money/investing I agree with more than Morgan Housel

@moniquemichelle7295 8 ай бұрын

“Social debt”! Brilliant! So true in disadvantaged communities we feel pressured to lift everyone when we make it.

@evelynenambeye5011 4 ай бұрын

Yeah!! In Africa we call it “Black Tax”

@Inanothertimeandspace 8 ай бұрын

“Having money is not everything. Not having it is.”

@TotalSoccerPro. 8 ай бұрын

Morgan is full of knowledge! Wow, makes you think about something you would never thought thinking about.

@joelloo9448 8 ай бұрын

Wonderful interview. Thanks Tim and Morgan for sharing openly your thoughts and ideas.

@teamvigod 8 ай бұрын

All of Morgan's success is well earned and deserved. Highly recommend his books, podcast and Collaboritive fund blog. It's all priceless but I'd be way more than he is charging for all of it (the blog is free as is the podcast!).

@kabztwala4923 6 ай бұрын

I've been invested in the idea of living life in a counter-intuitive way and I'm glad Morgan's contrary approach to life (as bleak as one might attribute it to be) is being reverberated. Thanks for going deep Tim.

@DavidRussellM 8 ай бұрын

I listened to your episode with Jack, which inspired me to meditate again, your episode with Mate and Roll helped me workout some child trauma, your episode with Apollo has turned me into an aspiring magician, Attia got me to sign up to a gym, Sam Harris is a shining light of morality, and now Morgan which has a ton of takeaways, but the main one for me is to be grateful. Sorry for those I missed, literally every episode is gold. Thanks for what you do Tim, you are a legend!

@JeThoreau_ 6 ай бұрын

Awesome! Very cool that you’re taking such powerful inspiration from Tim’s work. Sam Harris is nowhere close to a “shining light of morality” though… he’s said some absolutely shocking things before, and not in just some innocent comedic context These other Tim Ferriss episodes like this one with Morgan are MUCH more worth your time than that sociopathic liar Sam Harris

@freedomlife3623 2 күн бұрын

So good to know I am in good position as I am very content with my life( financially & emotionally). Since I 😂as over 30, never felt the need to impress others, just want to make myself feel good about the person I am.

@Historyteacheraz 7 ай бұрын

Morgan always has great insight! A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger teaches the key investment principles of Buffett and Munger.

@alanpinnt 8 ай бұрын

Huge fan of Morgan Housel. This is awesome to see him on here!

@freedomlife3623 2 күн бұрын

Morgan, I bought both format of your “Phycology of Money”, finished them both & revisited them every once awhile. Still find gems every time. Thanks so much for the great content. You also have a great voice for reading & podcast, enjoyed your both productions.

@ThaidUp 7 ай бұрын

What a great conversation 2 hours flew by with myself wanting for more

@Chris-rv7nr 8 ай бұрын

The question prompts are genius: " What hassle are you trying to eliminate that is actually an unavoidable cost of success?"

@HawkMcDork 6 ай бұрын

loved "Same as Ever", so many awesome quotes and ways of thinking about things

@rishibaldeo5479 8 ай бұрын

Fantastic episode, So much insights. I had to stop and replay selected portions several times to make notes. I feel smarter when I'm finished😇

@cng2009 8 ай бұрын

Tim's point about how hope is so much more valuable than people give it credit for, especially for someone struggling, and most humans do struggle in some way, and how buying a lottery ticket to give you something to look forward to and strive for and be excited about is very true. I have found this to be true for myself, and as I look back at things I have done, including getting excited about saving and investing for the possible wealth and escape velocity it could generate for me and my family over time, this really helped me to push forward through hard and dark times. Still working on it, getting wiser and seeing things more broadly than I used to, and grateful for the journey and the nuggets of hope along the way :)

@freedomlife3623 2 күн бұрын

That is so true, I certainly bought lottery tickets when I was in 20’s & 30’s. Last time I bought a lottery tickets was join my friends as a fun activity when the prize was so high. It really teaches us to have some humility about other’s life situations.

@INvestME2011 8 ай бұрын

Really phenomenal conversation I had to listen twice. First time for entertainment, second time as a student.

@AarrenDieok 3 ай бұрын

Morgan possesses remarkable knowledge and delivers his messages to audiences precision, analytical depth and conciseness. Simple like the button for this video is an understatement ❤🎉 Tim Ferriss has incredible host, posing brilliant questions that coax Morgan into sharing his honest thoughts. What a great episode!

@XANXUS451 8 ай бұрын

Finally got around to watch tim’s video man its been too long Its like being revisited by an old friend i forgot i have all tao of seneca audiobooks and i still need to listen Haven’t listen to tim’s podcast in month today i change that it feels like being in space for many years and you missed the Earth the very first thing you do is kiss the floor Miss the content

@EllysaE 2 ай бұрын

He has so much insight into a lot of topics. I enjoy listening to him talk. The only thing is serving a partner … that mindset opens you up to abuse. You have to build a foundation and trust the person before you do that.

@tyng-shyanhuang9460 2 ай бұрын

This is the very first podcast I have listened to and wish it didn't have to end, it was so much fun listening to the conversation between you two. Thank you and hope there will be more in the future.

@marcosferreia 7 ай бұрын

What an honor to learn all of this with you guys. Thaks so much for your work!

@keenalou595 8 ай бұрын

Oh wow! That avalanche story 😖. I can see how it framed his view on life and decisions. Interesting reflections on fame, its consequences and what's to come as a result Tim. I'm excited to "hear"about your next moves 👀. What a peculiar set of favorite books , I do love how animate he is when talking about them though haha 😅!! I didn't know about the factory fire either 🙃

@meerzcrypto 8 ай бұрын

rich and anonymous. no social debt,, ain't that heaven

@TiagoRamosVideos 5 ай бұрын

45:00 wow great story of how you "survived" 🙏

@sagemodeace9949 8 ай бұрын

So educational!

@TheZGALa 8 ай бұрын

Social debt is a great concept to contemplate. Thank you for bringing this to the forefront of my /our lexicon.

@comicthrill 3 ай бұрын

MH: Comedians are the only thought leaders of our time 😎 You're not so bad yourself man. Comedians drop insights in their acts and spit truths in podcast conversations, while you also write and speak must-listen semi-inconvenient truths

@MX-CO 7 ай бұрын

I believe money would make me happy, secure, content, less stressed, and I could afford to do things I want to do but cant afford to do now!

@juancarlosv5136 7 ай бұрын

A must listen. Thanks a lot

@skygaz3r 8 ай бұрын

Really enjoyed this podcast! Thank you for such great content!

@vanessaytang3986 8 ай бұрын

Great interview! Morgan is a gem

@Sons_Brad_Dalton 8 ай бұрын

Great time here fellas. Thank you

@cinthyaverasteguieffel8896 8 ай бұрын

..THANK YOU SOO MUCH TIM 🏆

@matt79de 7 ай бұрын

As far as the question of where text goes and how podcasts are involved: I'm speaking from my own experience here: I love the *mix* because of my life circumstances: I love listening to a book or podcast when doing chores and stuff simply because i have very little time i can dedicate to reading. *And* i love to have a physical copy of the book around to re-read points, stare at some pictures or graphs, add notes and what have you. *Also* i love to experience the authors of the books through podcasts and their ilk as an enhancement and extension. So in my world, text is going nowhere, while at the same time i do appreciate the audiobooks and podcasts. Keep up both, even if the kids may not appreciate it (yet). (I btw. think that Tim is right about the "replacement rate"...). And rest assured that if i get to have kids, i will make them read probably 80% of the books i have (and not stop them from reading all of them if they wanted to) *and* at least Morgans books are among them...

@patrickthegreat360 5 ай бұрын

What a beautiful, clear chat

@ishan180 7 ай бұрын

2:00:26 listening about Munger today, after his passing away makes it a completely different perspective! Two best people to evaluate his thoughts. They should do a complete session just on Munger and his thoughts.

@przemszat6501 8 ай бұрын

Thanks guys. This was awesome 👍

@TikaHope 8 ай бұрын

Loved this interview, I think The Title of the book he mentioned in 2nd place was not ''No ordinary day'' but '' No ordinary time''', I will read it for sure after his description ...😍

@psyveer 7 ай бұрын

Your podcasts will be revisited.. Keep at it. ✨👏👍

@shak535 8 күн бұрын

Yes

@Nirvaana23 7 ай бұрын

I think the billionaire he talks about is the creator of Monster

@ifstatementifstatement2704 8 ай бұрын

Yes, it will!!

@aldenvidal 5 ай бұрын

wow, I learned so much from this episode.

@frankli7848 7 ай бұрын

Wonderful content

@mrboobiesrider9212 8 ай бұрын

Happier

@treytrey6011 8 ай бұрын

Why does Tim ask "will money make you happy". We all know that financial stress will make you unhappy. "CNBC -62% of Americans are still living paycheck to paycheck, making it 'the main financial lifestyle,' report finds PUBLISHED TUE, OCT 31 2023-8:30 AM EDT UPDATED AN HOUR AGO"

@jenhover 6 ай бұрын

Morgan's last comment made me a subscriber.

@carolspencer6915 8 ай бұрын

Good Morning Tim and Morgan Will pen a book morph same into screenplay and make the associated movies! Is this or should this be a five, ten year plan. Did tell my wee self I would write a book, this was over twenty years previous. Two decades later, lots more experiences and material. So I need to learn how not to procrastinate, and make at least a wee dent in my want, mission to WRITE. And before I'm half a century young.😀 Thankyou both again for your shared conversations. Super grateful. 💜

@theclown888 7 ай бұрын

Found myself skipping the questions and just watching Morgan’s answers. Not sure if that says more good about Morgan Housel or more bad about the host.

@Cartoon_Laughs 8 ай бұрын

If you're rich, you may have "life problems". If you are poor, in addition to "life problems," you have a lot of...money problems. So, I'd rather deal with depression and lack of meaning in life having money.

@priyamhazarika_ 8 ай бұрын

The intro music is so nostalgic

@samcpage 8 ай бұрын

Wasn't expecting to hear Brent Beshore quoted on this podcast 🤣

@phunt8551 17 күн бұрын

I would love a copy of the questions to ask yourself

@donnlowel4097 25 күн бұрын

Its not about being happy with money, it’s more like having enough money to live by until your death.

@priyamhazarika_ 8 ай бұрын

My idol

@lindokuhlechrismnisi3260 5 ай бұрын

Most of us are not looking to be happy, we just want to afford the basic needs and unfortunately everything revolves around money.

@vonaudio5435 8 ай бұрын

Yes. If it has buying power - It will. In other news - will water make you wet? We will never know.

@timbushell8640 8 ай бұрын

Sounds like that Tim needs to read some Russ Kick books on many of 'other' stories and many unknown facts.

@accuso 6 ай бұрын

Money buys you the possibilities. If you have a depression and you are rich, you can deal with that disease by hiring a specialist. If you don't have enough money for that - the only choice is to figure it out by your own. So some quotes from the guest sound a bit biased

@theemperor4901 2 ай бұрын

1:20:50

@Nana__________________________ 7 ай бұрын

Awesome, as usual. 2 comments: my 2 and 4 year old listened to this with me, so there's your kid demographic Tim 🤣and I would wonder, as a first generation wealth builder, I am VERY concerned with leaving my kids with absolutely nothing, while also fostering independence to make their own. I wonder what a European culture, for example, might say about this. It seems very American. We are not only more concerned with "wealth" than other countries, but we live in a country where we need to literally work harder to survive, from a cost of living/economic standpoint.

@TheZGALa 8 ай бұрын

I kinda wish I could write at least a little closer to that way. Definitely a swooper here.

@TheZGALa 8 ай бұрын

Happy Hallow's Eve everyone! #PlayLoveRide

@christine_Bru 8 ай бұрын

Please don't stop podcasting 😱😓

@hl2paul 8 ай бұрын

Charlie Munger doesn't just have fuck you money, he has fuck you intelligence. 🤣 Great episode and I need to read pretty much every book mentioned in it. Keep doing what you do Tim!

@sazajac77z 8 ай бұрын

"Never change" is a bit extreme. Some things dont change, but some things change slowly. Empires DO collapse.

@sindreandersen9114 8 ай бұрын

❤

@OckyAsFUCK 8 ай бұрын

This is a rE upload right ?

@phunt8551 16 күн бұрын

Giving someone poor money is not the answer. If you want to help that person, teach them the tool to survive. Go to a low income church and teach them how to budget their money. Dont give a man the fish but teach him to fish...

@amarabdelli 8 ай бұрын

If you spend it 😂

@TheZGALa 8 ай бұрын

LOL "Click em into their skiis and kick 'em down' I recommend bringing them to the icey hard n fast slopes of New Mexico, and maybe let them wear jeans too, for full effect. ;)

@myou066 8 ай бұрын

may the fourth be with you.

@chrisallwhite 8 ай бұрын

Why would you go through all that growth to make ‘fuck you’ money to stay the same?

@jakekay0 8 ай бұрын

Second

@sting019 8 ай бұрын

Third

@invictusmaneo464 7 ай бұрын

Ne, to vím... Peníze jsou potěšení pro lidi mrzkých kvalit... O peníze tady nejde... Přesto se neustále snažíte ze mě vysát všechny peníze tím, že s Váma žádný nevydělám... Protože ze mě děláte milionáře a tvrdíte, že tím, že mi obtěžujete můj život a že natahujete můj rozpočet, že něco zjišťujete... Je to jinak. Vás to baví... Vás baví mi obtěžovat život... Vzrušuje vás to, že díky vám nevydělávám peníze.. Baví vás to... Jste úchylové... A melete, jak mi pomáhate... Ale hovno... Jste nemocný ..

@invictusmaneo464 7 ай бұрын

Taková pravda... Honzo, potřebuješ se léčit

@d1pz9 8 ай бұрын

Fourth

@rmonomer 8 ай бұрын

first.

@betweenworlds4869 8 ай бұрын

Very weird mentality on this guy. “I care what 7 people on earth think of me, the rest are irrelevant” - so you don’t have social and ethical obligations to anyone else? The self respect to take care of yourself and your possessions isn’t important unless those 7 care? Ridiculous attitude.