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.
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.
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. ✍️
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.
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.
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.
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.
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.
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
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).
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.
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
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.
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
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
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
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
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...
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 😂
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.
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
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.
