The Dead Simple Strategy That Will Make Your Great Grandchildren Rich

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The Dead Simple Strategy That Will Make Your Great Grandchildren Rich | ft. Morgan Housel

Рет қаралды 41,019

Күн бұрын

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Episode 533: Shaan Puri ( / shaanvp ) and Sam Parr ( / thesamparr ) talk to Morgan Housel about the psychology of building generational wealth and the one strategy that works better than any 20% return.
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Show Notes:
(0:00) Intro
(2:30) Strive for averageness
(13:00) Financial anti-goals
(15:30) Sam and Morgan argue about money and anxiety
(18:30) Biggest psychological trap with money
(23:00) The biggest risk no one is talking about
(27:00) Worry about what doesn't change
(30:00) How to action sameness
(33:00) Morgan's history book diet
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Links:
• Same as Ever - tinyurl.com/2z...
• Psychology of Money - tinyurl.com/yc...
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Check Out Sam's Stuff:
• Hampton - www.joinhampto...
• Ideation Bootcamp - www.ideationbo...
• Copy That - copythat.com
Check Out Shaan's Stuff:
• Try Shepherd Out - www.supportshe...
• Shaan's Personal Assistant System - shaanpuri.com/r...
• Power Writing Course - maven.com/gene...
• Small Boy Newsletter - smallboy.co/
• Daily Newsletter - www.shaanpuri....
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Пікірлер: 75

@spacetimergames 8 ай бұрын

These podcasts are way better when the guest is equally transparent as Sam/Shaan

@LevelofClarity 8 ай бұрын

18:28 Yes! Sam totally freakin nailed this. People with tens and hundreds or millions of dollars saying money doesn’t increase happiness, all it does is reduce financial stress. Well, lower financial stress likely leads to lower overall stress, etc. I’m glad Sam called this out.

@ChristopherOkhravi 8 ай бұрын

This. ☝️

@whatwhowen 8 ай бұрын

One of the reasons we respect Buffett is that we can see his portfolio, demonstrating a clear level of transparency. In contrast, Morgan is very vague about details of his own life, yet extremely specific when giving advice to others. It’s not advisable to go on a podcast about money and then avoid discussing financial matters.

@coney2010grads 8 ай бұрын

He's a book author, what details would you want? He sold 4 million books. Probably mase $1-2 per book.

@leonardo54465 7 ай бұрын

One of the many reasons I have a Michael Thomas Schwartz managing my portfolio. and keeping me up to date on the ever-changing market.

@matmaism Ай бұрын

@@coney2010grads the details he is referring to are quite obvious if you watched the video.

@willsims 8 ай бұрын

Honest feedback: very little was actionable in this one and all the information was mostly surface level. It was clear you guys were trying to get a bit more out of Morgan, but he seemed to be unreceptive.

@LivingInSaltLakeCity 8 ай бұрын

Love when Sam calls people out. Not sure they actually did agree on happiness of having money though… money absolutely does provide happiness. It’s not the only thing, but it absolutely makes a difference.

@calpops 8 ай бұрын

A million dollars isn't around the corner. You want money? You need to take risks. Unless you want to wait 50 years to see it. Think bigger. But have this running in the background too.

@teamvigod 6 ай бұрын

Highly recommend both of Morgan housel books. Will change your financial life and your psychology. Also read his free blog. Always brilliant. Long time follower from his early motley fool days. I spotted his talent early on and followed since and much better off due to it. To understand how it’s all in his books and writing. ✍️

@Ryan.G.Spalding 8 ай бұрын

Sold one book here! Well done.

@ericaltm 8 ай бұрын

At 30, Buffett was worth around $10m inflation adjusted, not hundreds

@vladpaul01 8 ай бұрын

This guy is the Spirit Airlines of financial advice.

@artemzheman5417 8 ай бұрын

What does that mean? (Not from USA)

@vladpaul01 8 ай бұрын

@@artemzheman5417 He's at best mediocre. He speaks a lot but does not say anything particularly insightful.

@matmaism Ай бұрын

Very true, anyone with greater than basic understanding can see wholes in most things he says.

@raphael1808 23 күн бұрын

his principles: 1. power of compound interest 2. things are uncertain 3. be patient it’s nice, but don’t feel like his principles are that profound more others people’s thoughts

@jonathanedward5062 7 ай бұрын

I love MFM, but don't be fooled: None of these 3 guys made their millions with compounding at 10% annually. You gotta take risks to really make it.

@Clay-ux1 8 ай бұрын

Tbh.. best read i have come accross this year is.. Better you by twelve. Hands down goat. You go looking for only money and you come out with so much more. Highly recommended read.

@Clay-ux1 7 ай бұрын

@shaanpurri5111. I don't follow

@fryderykchopin1381 8 ай бұрын

We need the the raw version of Sam getting flamed by Jesse Itzler!

@user-le7lf8xn6h 8 ай бұрын

Question? If I target x wealth in x year. Don't you think inflation make it difficult?

@user-qk3ou4es6e 8 ай бұрын

"Is this a real story because I hate Warren Buffet now" was so great Shaan LMAO

@johnpulawski35 8 ай бұрын

Dude Warren Buffett disowned his adopted grand daughter 😭😭

@BurstCreatine 8 ай бұрын

Cool guy Shaan with the Carte Blanche hoodie. Shaan with the drip!!

@ianLord77 8 ай бұрын

The fast talking guy is not saying anything new. There are lots of other books that regurgitate the same theme - there is no point in trying to beat the market, just invest in index funds and over long periods of time you will do very well. It is time in the market, not timing the market right? Well, that is not a bad advice in itself, for the average Joe that has a job and no time or desire to put effort in anything else then yes. However for anyone that has an ambition to become financially free before the proverbial "long term", at an age where they are still healthy and have lots of time on Earth left, investing in index funds will not do it. It will only work if you have a large enough lump sum that generates enough income to support your lifestyle. So you need to find a way to either generate that amount of money or create some sort of cashflow (real estate, business, royalties etc.) That's a much more noble and worthy goal to strive for - the reward is not just money, but time which is infinitely more valuable. Would you rather have even 200k at 20 yr old or 150 billion at 93 years old? In the long run we are all dead.

@TheMaverick_SR 8 ай бұрын

Rightly said. No risk no reward. If you are risking capital you should be aware of the downsides as well. I'm not buying this betting the index 4% withdrawal thing

@Clyde.artwork 8 ай бұрын

The thumbnail has strong shill vibes - after listening, one of the best guests ever, bought both his books. Opinion about the thumbnail still stands!

@JeanPierre-yt5up 8 ай бұрын

Hi Morgan😀😀 , I'm a BIG fan of yours! Please tell me how I would invest 1,100,000 .I was going to lump sum 500k and DCA 20k each month for 30 months in S&P 500 index fund or do you have better strategy. I'm begging you to PLEASE give me advice? Thank you very much

@leonardo54465 7 ай бұрын

One of the many reasons I have a Michael Thomas Schwartz managing my portfolio and keeping me up to date on the ever-changing market.

@prashantkirloskar2853 3 күн бұрын

Don’t do lumpsump at peak of market. Instead do 50% in equal amounts over 12 months. The rest do doa over 3 years starting. Use VT for equity not s&p500 80% Do gold GLDM 10% and MFUT and CTA 5% each. Gold and cta and MFUT you can do lump sum

@codygavin98 8 ай бұрын

Let's go! A lot of us suffer from shining object syndrome & focusing on short term wins. However if you show up day by day, be consistent and focus on the long game you have a higher chance of winning.

@moneymakingsim4314 8 ай бұрын

Damn.. Punched me in my freakin face with this Morgan interview..🤕! I loved every minute of it!!

@yashdes1 8 ай бұрын

Shaan saying the things we all think 17:32

@RyanSaplanPT 8 ай бұрын

The 100mm hole missing in our soul that needs to be filled

@whiteknight7wayne493 7 ай бұрын

i love the stimulation of you progressive guy - id like to share, im not there unshakably and I AM chasing some $ goals, id like to add that you CAN be super joyous all the time or almost all the time. Think of it this way. Its like fitness or better yet like having more money than you can spend, but yes money isnt necessarily equivalent to Joy- but Joy itesf is.

@sunidollfun 8 ай бұрын

You guys need to watch the Arthur C Brooks interview with Tim Ferriss or read the book he co-wrote Oprah. 'Happy' isn't an attainable goal - aim for 'happier'. (Build the Life You Want: The Art and Science of Getting Happier).

@andrewxzvxcud2 8 ай бұрын

havent even watched the video but it should be either dca the sp500 or learn value investing

@samjones2586 8 ай бұрын

Every episode is turning into a roast about warren buffet thinking he’s got any more time on this earth.

@hkalra01 7 ай бұрын

Looks like a super comfortable sweatshirt @Shaan can you provide a link?

@TheSportsandFilmFellowship 8 ай бұрын

I have been studying WW2 for years !! I agree with the end

@fiendlybrds 8 ай бұрын

I am so glad there are more uploads this year!

@vihodanyet 8 ай бұрын

Hmmmm i would say that Professor Richard Werner for all his conspiratorial ideas on the future, his economic predictions have pretty much been spot on since the late 90s

@jholid6y 2 ай бұрын

Sam did wake up happy in this pod.

@IAmDiegoMilan 8 ай бұрын

Right as I’m putting on my shoes for my morning run and looking for a podcast, you guys come out with another banger 👏

@genextra4535 7 ай бұрын

Buffett has been wealthy for a long time and like so many wealthy people he has been able to retain a lot of that wealth through tax shelters strategies

@TheSportsandFilmFellowship 8 ай бұрын

Thanks for calling him out for his contradicting statements, as an author and investor we all have goals 💯💪🏽 great interview

@whatwhowen 8 ай бұрын

Dude just say the number. If you’re comfortable enough to brag and boast about exceeding “x” number, you should comfortable to say the number…

@tysonfaa 7 ай бұрын

It's hard to listen to guests like Morgan who talks so confidently until they are asked a question that requires a little transperency and they shut right up...

@mwm33333 7 ай бұрын

How can they not bring up AI when talking about declining workforce ?

@orthdron 8 ай бұрын

bad guest. 0 value added.

@faisalislam9840 8 ай бұрын

Was expecting an episode with Morgan, glad that is here

@abhayrohom 8 ай бұрын

Not a fan of Morgan's work but things he shared about demographics were really interesting.

@mikestaub 8 ай бұрын

To say "I think I should be worth $100m" is a sign that there is unhealed trauma imo

@genextra4535 7 ай бұрын

Buffett being careful about giving to family is a lesson that people without wealth should heed. Family will exploit their relationship to bleed you faster than total strangers....and forget you exist when the money is gone 😂

@bangerpickleball 8 ай бұрын

carte blanche >

@ketupatel4424 8 ай бұрын

Love Morgan Housel!!! Can't wait for this episode!

@TAGraham 8 ай бұрын

“the future” is a mindset we live in that compels us to make wise decisions in the present moment

@BUY_YOUTUB_VIEWS_286 8 ай бұрын

I'm genuinely impressed, creator!

@LucusJackson 8 ай бұрын

Buffet's greatest joy maybe compounding, but one of mine is pounding #marriedman 😂

@Duckdealer007 8 ай бұрын

Well! Enjoy while it lasts!!!! 🎉🎉🎉😂😂😂😂

@8w494 8 ай бұрын

Lets go 💪

@BasketballBusinessAndBossMoves 8 ай бұрын

First one here!!! I have a similar podcast coming out: Basketball, Business and Boss Moves!!!

@antoniocollins 8 ай бұрын

Wish you guys still did guest reviews/breakdowns in the following episodes. Feel like Morgan is a super smart and genuine dude but didn't make for a great pod. Like a less entertaining Ramit. And thats not to knock him, I think his content style is just different

@rubayyatkhan 17 күн бұрын

Hard to believe this guy sold millions of copies, his info at best is very basic financial information. I read the summary of his book, there are far better books out there for financial literacy.

@tutorialsartandvids7136 8 ай бұрын

This one didn’t go down well 😂😂😂😂😂

@jerzeyshoredevil 8 ай бұрын

There was value in the episode…BUT the magic you guys have had the past couple months was not in this one! The chemistry just wasn’t there in my opinion.