The Psychology of Money Timeless lessons on wealth, greed, and happiness

He is also the author of the spectacularly bestselling book, The Psychology of Money.

I read Morgan's book, The Psychology of Money, and I loved it.

the book, The Psychology of Money. ... I've made all three of my kids read. It's the book that I recommend on the topic of money.

His book, The Psychology of Money, was the first personal finance book to truly explain to me that doing well with money is really not about math. It's about behavior.

So Morgan, your mega bestseller, The Psychology of Money, changed my life, changed the way I think about money, changed my mindset about money.

Morgan Housel is the best selling author of the psychology of money.

New York Times bestselling author of the psychology of money, Morgan Housel, when he appeared on the Mel Robbins podcast taught us how to shift our mindsets and expectations.

I am the author of the book, The Psychology of Money, and I'm a partner at The Collaborative Fund.

He published The Psychology of Money in 2020, too late, as it turns out, to be included in the top 50 personal finance books that James Choi analyzed. Otherwise, it would have been included.

We've spent the last two years struggling to keep it in stock. We just can't print enough.

My general response to the paper was it's based off of this idea that economists can have the quote-unquote right answer to these problems, that they know the right thing to do with their money, and then they can therefore compare right versus what's actually out there. And that is an idea that I fundamentally disagree with.

There's not the equivalent of two plus two equals four in personal finance. You cannot read a paper or look at a spreadsheet and change the amount of dopamine and cortisol in your brain. You can't do it.

I am the author of the book, The Psychology of Money, and I'm a partner at The Collaborative Fund. ... He published The Psychology of Money in 2020. Too late, as it turns out, to be included in the top 50 personal finance books that James Choi analyzed.

Your first book Psychology of Money was a beast and this next one is absolutely phenomenal.

I think about a lot and that was one of the points of talking to that author who I was speaking with because I know this is going to be my situation how do you prepare mentally when I hope to write many books in my career and I would bet very good money that the first book I wrote will by an order of magnitude be the biggest seller.

it's kind of a hard thing like when I'm 66 how am I going to feel knowing that I peaked at age 36 when psychology money came out it's probably not going to feel that great to be honest of all the problems to have it's not a bad one

I wrote about this in the Psychology of Money

There was another story that I wrote about in the Psychology of Money that I thought was just so ridiculous when I read it.

There's a Morgan House will quote where he says the best way to win the game is to stop moving the goalposts.

And he's wrote this great book called The Psychology of Money.

And it's true that most people treat their goals. Their relationship to their goals is like the horizon that for every step toward it they get. Right. It then moves one step further away.

Atomic Habits by James Clear, Morgan Housel, The Psychology of Money. I've spoken to each of these guys individually.

I'm never going to write a book that does more than the psychology of money.

Morgan Housel's The Psychology of Money. What a book. Just outstanding.

Ladies and gentlemen you're about to meet the man whose book changed my entire life as it relates to money and finance

My brother who's an investment banker said Steve there's one book I need you to read about wealth, investing and money and finance and he passed me a book called 'The Psychology of Money'. That book changed my fortunes. It is the reason I've been a successful investor and it's the reason I've been able to hold on to my wealth and build it.

What I would consider to be the greatest book on money and finance ever written. I say that because I remember when I came into money when I was 25, 27, 28 years old and my brother turned to me and said there's one thing I ask of you. He said you have to read this book or 'The Psychology of Money'. It will stop you losing all of the money you've just earned from your career and it changed my life.

Let's start with the psychology of money. What is the benefit to my life if I understand the things that are written in the psychology of money?

I think the common denominator between all the three of books that you're holding is the idea that we talked about... The Psychology of Money sold almost 10million copies and had a profound impact.

My favorite book is probably this is gonna sound so well, but this is so boring. But it's actually the psychology of money. Which is a trading book and such a nerd thing to say but yet I like help me, you know.

I always say I said this in my first book, The Psychology of Money, there are two topics that impact everybody, whether they like it or not, which are money and health.

Prior to writing my first book, The Psychology of Money, in 2020, I had been a fulltime professional finance writer for 13 years or so.

the three books. The Psychology of Money, Same as Ever, and Now the Art of Spending Money.

If you missed it go check out Mondays episode with Morgan Housel author of the blockbuster book The Psychology of Money.

You think that everyone's looking at you, but even when people are noticing you, they're imagining themselves being noticed by other people.

Nobody cares about your stuff as much as you do.

Psychology of money was about how you, the individual behaves. Same as ever is about how we, the collective behave and what we keep doing over and over.

I think all investing is is the study of how people behave with money.

The first chapter of psychology of money is called the greatest show on earth because I thought that finance is one of the starkest windows into how people behave in life because it's like the stakes are so high, the emotions are so raw. There's so much quick feedback in the stock market that you can learn so much about behavior and investing that you can therefore apply to other fields.

His book, The Psychology of Money, has sold over 2 million copies and has been translated into 52 languages.

financial success is not a hard science. It's a soft skill or how you behave is more important than what you know.

saving like a pessimist and investing like an optimist

leave your kids enough money so that they can do anything but not so much that they can do nothing

financial success is not a hard science. It's a soft skill or how you behave is more important than what you know.

saving like a pessimist and investing like an optimist

leave your kids enough money so that they can do anything but not so much that they can do nothing

nothing too good or too bad lasts indefinitely

financial success is not a hard science. It's a soft skill or how you behave is more important than what you know.

saving like a pessimist and investing like an optimist

the most important decision anyone will ever make is whether when and whom to marry

nothing too good or too bad lasts

leave your kids enough money so that they can do anything but not so much that they can do nothing

He's the author of books like The Psychology of Money, and he was my guest earlier this week on the podcast.

Okay, so your book, Psychology of Money, came out in 2020. It was a huge hit. And you say in the book that money has little to do with how smart you are and a lot to do with how you behave.

Can you shed some more color on that and give us examples of how behavior can actually trump smarts? Well, here's how I always define it.

You say in your book that we learn traditionally about finance like it's physics, right? It's rules. There's laws. But you say we should look at it more like psychology with emotion and nuance.

You have a chapter called Tales You Win, and you talk about how sometimes one Picasso painting can make up for all the ones that don't.

You may know him as the author of books like The Psychology of Money and Same as Ever.

My book's The Psychology of Money and Same as Ever.

We talked about the title for Psychology of Money, he had a few options and we tweaked the subtitle together until we landed on the final version.

Morgan Housel is the bestselling author of The Psychology of Money, a book that sold more than 10 million copies.

So we have the psychology of money, which the whole world has read literally.

I wrote about this in The Psychology of Money.

Every single person who listens to Acquired should read it

He's unbelievably pithy.

I suspect it's a really good one to read now Post 2020 and 2021 bubble when like everything was crazy. It would have been great to read it during 2020 But it includes I think I've I've made it a carve out before the morgan's essay how all this happened and every chapter of psychology of money is one of his essays And so if you liked if you read how all this happened, which is this amazing path of World war two through today through the american economy and a lot of politics and why different things happened and how everything led to the next thing The psychology of money is awesome because it incorporates all of that sort of like factual history with just really good perspectives and some Citations of research on what actually makes people happy and what investment strategies work when your goal is happiness

Morgan makes a very strong argument in the book to basically Put as much into s and p 500 index funds when you're as young as you Possibly can and just never sell anything.

His book, The Psychology of Money, is so popular in the Painted Porch.

It sold millions of copies all over the world.

did you read the um did you read the psychology of money yes yes okay I had him on the park as Oregon's great yeah yeah he's awesome and there's that story in there that he tells that I just think is so significant of most of those people that I I met in it's about Joseph Heller remember the story in the book yeah enough yeah it's in stillness too right it's in my book stillness yeah it's never enough

the financial writer Morgan Howell who's wonderful book the psychology of money we recommend and who was on the podcast recently once described history as one damned thing after another and what is history made up of life.

I was just reading Morgan Howell's the psychology of money and he has this line in there unexpected things happen all the time or things that have never happened before happen all the time that's the wisdom of what Sennaqa is trying to say there that's what we prepare for

his new book The Psychology of Money Timeless Lessons on Wealth Green in Happiness is a deep dive into the psychology of money the difference between being rich and being wealthy how we measure our success problem with comparison as I was just saying and much more it's sold nearly two million copies and been translated into 46 languages

it is really genuinely good I loved reading it I took a bunch of notes I wish more writers would write in this style as we talk about in today's interview I loved the stories I loved that it was both general and specific and you I took a lot out of it and I think it's a very apt for this crazy moment in economic history that we are in and I recommend it highly

I recommend reading the psychology of money anywhere you get your books but if you want to pick it up at the pain in porch go for it and you can go to Morgan's website in morganhousel.com and follow him on twitter at morganhouselinjoy

I think people primarily learn via stories right they learn by stories not by facts not by charts not by even these sort of long form like arguments they learn by stories and not stories about the author but about like sort of bite-sized anecdotes the Greek word for this is a crayah it's like a short story that has kind of a moral point to it that teaches a larger lesson and like most finance books are like let me tell you how the markets work they're not like here's a bunch of memorable stories that will sort of triangulate for you an understanding of the market

And if you haven't read Morgan Housel's The Psychology of Money and The Art of Spending Money, those are two other books that I might pair with this one.

The Psychology of Money, has sold almost 4 million copies since its release in 2020.

And I was delighted to see or interested to see that you specifically refer to two people who the Southern District of New York prosecuted, former member of the board of directors of Goldman Sachs, Rajat Gupta and the greatest Ponzi schemer of all time, Bernie Madoff.

Madoff is a really interesting character because a very overlooked part of the Madoff story is that back in the early 1980s, Madoff was an extremely successful businessman from the legitimate part of his business.

I'm working on a book right now. It's called The Art of Spending Money. Hopefully a self-explanatory title.

Just like my first book, Psychology of Money, does not tell you how to invest. It just tells you what happens in your head.

Morgan Housel, the New York Times bestselling author of The Psychology of Money and a partner at The Collaborative Fund.

He's the New York Times bestselling author of The Psychology of Money and Same as Ever.