The Psychology of Money | Morgan Housel

02/24/21 • 63 min

3 Listeners

Finding Mastery with Dr. Michael Gervais

This week’s conversation is with Morgan Housel, a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.

He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism.

Morgan recently published a book titled, The Psychology of Money, and it’s the impetus for why I wanted to talk to him.

If you’ve listened to this podcast for a while, you know I live by this stance: having a philosophy for your life is imperative...

What I hope you take from this conversation is that the same can be said for how you think about money.

There isn’t simply one "right" way to manage your money, but it should align with the greater values you live by.

At one point in our conversation, Morgan shares that he doesn’t have a mortgage on his house, that he owns it outright.

I was a bit stumped at first because it would appear, especially in our current climate with how low interest rates are, that this is foolish.

Isn’t there a huge opportunity cost to that?

But Morgan is clear on his principles, what makes him feel secure, and what’s “enough” for him... not having to think about a mortgage is something that’s important to him.

So this conversation isn’t focused so much on what to do with your money, but the importance of having clarity on the reasons why you choose to do, what you do, with it.

-----

Please support our partners!

We're able to keep growing and creating content for YOU because of their support. We believe in their mission and would appreciate you supporting them in return!!

To take advantage of deals from our partners, head to http://www.findingmastery.net/partners where you'll find all discount links and codes mentioned in the podcast.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This week’s conversation is with Morgan Housel, a partner at The Collaborative Fund and a former columnist at The Motley Fool and The Wall Street Journal.

Morgan recently published a book titled, The Psychology of Money, and it’s the impetus for why I wanted to talk to him.

If you’ve listened to this podcast for a while, you know I live by this stance: having a philosophy for your life is imperative...

What I hope you take from this conversation is that the same can be said for how you think about money.

There isn’t simply one "right" way to manage your money, but it should align with the greater values you live by.

At one point in our conversation, Morgan shares that he doesn’t have a mortgage on his house, that he owns it outright.

I was a bit stumped at first because it would appear, especially in our current climate with how low interest rates are, that this is foolish.

Isn’t there a huge opportunity cost to that?

But Morgan is clear on his principles, what makes him feel secure, and what’s “enough” for him... not having to think about a mortgage is something that’s important to him.

So this conversation isn’t focused so much on what to do with your money, but the importance of having clarity on the reasons why you choose to do, what you do, with it.

-----

Please support our partners!

We're able to keep growing and creating content for YOU because of their support. We believe in their mission and would appreciate you supporting them in return!!

To take advantage of deals from our partners, head to http://www.findingmastery.net/partners where you'll find all discount links and codes mentioned in the podcast.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Previous Episode

Adapting to Stress and Building Trust In Self | Dr. David Rabin

This week’s conversation is with Dr. David Rabin, MD, PhD, a neuroscientist, board-certified psychiatrist, health tech entrepreneur & inventor who has been studying the impact of chronic stress in humans for more than a decade.

David has always been fascinated by consciousness and our inherent ability to heal ourselves from injury and illness.

As such, he has specifically focused his research on the clinical translation of non-invasive therapies for patients with treatment-resistant illnesses like PTSD and substance use disorders.

David is the co-founder & chief innovation officer at Apollo Neuroscience, which has developed the first scientifically-validated wearable technology that actively improves energy, focus & relaxation, using a novel touch therapy that signals safety to the brain.

This is one of the reasons I’ve been so excited about our partnership with Apollo so I can’t wait for you to learn from David, he is an amazing human being.

In this conversation, we discuss how powerful the human mind is – why we’re uniquely suited to adapt to and overcome adversity and why it’s possible to rewire our brain’s to get a better handle on anxiety and other mental disorders.

-----

Please support our partners!

We're able to keep growing and creating content for YOU because of their support. We believe in their mission and would appreciate you supporting them in return!!

To take advantage of deals from our partners, head to http://www.findingmastery.net/partners where you'll find all discount links and codes mentioned in the podcast.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Next Episode

Trust That You're Good Enough | Dr. Trudy Goodman

This week’s conversation is with Dr. Trudy Goodman, the founding teacher of InsightLA and cofounder of the Institute for Meditation and Psychotherapy.

Trudy has trained in mindfulness and Zen since 1973, holds a graduate degree in developmental psychology from Harvard, and is one of the senior Buddhist teachers in the U.S.

She has taught at universities and retreat centers worldwide for 25 years.

Trudy is widely known for her role as Trudy the Love Barbarian in the Netflix series "Midnight Gospel”.

She is a contributing author to the Clinical Handbook of Mindfulness, Compassion and Wisdom in Psychotherapy, and Mindfulness and Psychotherapy.

And she’s also married to Jack Kornfield, who we were fortunate to have on the podcast just a few weeks back!

Trudy is a truly, a special human being.

In this conversation we discuss so much... the importance of trusting yourself and why that ultimately starts with loving yourself, which can be a big hurdle for some of us.

We also touch on Trudy's spiritual framework, which focuses on the relationship between the mind and the heart.

It's about allowing herself to be informed by intuition (the wisdom of the heart) rather than solely her analytical, cerebral mind.

-----

Please support our partners!

We're able to keep growing and creating content for YOU because of their support. We believe in their mission and would appreciate you supporting them in return!!

To take advantage of deals from our partners, head to http://www.findingmastery.net/partners where you'll find all discount links and codes mentioned in the podcast.

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.