For People Feeling Behind In Life! - Find Purpose, Achieve Your Goals & Be Happy | Morgan Housel

When John D Rockefeller was asked how much money was enough, he famously replied, “Just a little bit more.” This quote is often used to illustrate our hard-to-shake view that money will solve all life’s problems. But as today’s guest is keen to point out, it probably won’t. Because life’s true riches don’t have a £-sign in front of them.

Today’s guest is the multi award-winning financial writer and bestselling author Morgan Housel. Morgan is a partner at The Collaborative Fund and a former columnist at The Wall Street Journal.

In his first book, The Psychology of Money, Morgan explains how doing well with finance is less about what you know and more about how you behave. This is an idea that I believe applies equally to health. That book became a global sensation and to date has sold over 4 million copies. And his second book, Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life has just come out.

Morgan explains that in finance, as in health, we generally don’t want to put in the hard work over the long term. We want shortcuts, secret hacks, silver bullets. Yet, he says, basic truths and principles remain the same as ever.

We also talk about the relationship between money and happiness, the relationship between our finances and our health, the real meaning of wealth and the importance of having a sense of control.

We discuss the problems with black and white thinking, the dangers of social comparison, the difference between success and happiness, and why we need to be careful about who we look up to.

At its core, this is a conversation about what it really means to live a happy and contented life.

There’s a quote from Lao Tzu, that I really like: “He who knows he has enough is rich.” It’s such simple yet profound advice. And it chimes with Morgan’s ultimate message, that whatever your current financial situation, what’s going to make you happy is probably not what you think.

This is a thought provoking conversation that I’m pretty sure will have you thinking deeply about your life.

#feelbetterlivemore
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Connect with Morgan Housel:

Morgan’s books:
Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life

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

#feelbetterlivemore #feelbetterlivemorepodcast

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DISCLAIMER: The content in the podcast and on this webpage is not intended to constitute or be a substitute for professional medical advice, diagnosis, or treatment. Never disregard professional medical advice or delay in seeking it because of something you have heard on the podcast or on my website.

[DrChatterjeeRangan]

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[AcceptandAct]

It's all about getting out of victim mentality and taking as much control of your life as you can. This will also get you out of scarcity mentality and move you towards an abundance mindset. Then, based on your interests and talents, you can get to work towards building a meaningful career and a life of purpose. Forget about the extremes of being incredibly successful or rich. Worry about doing your own authentic thing on your own terms with a lot of self-discipline, and financial reward will be a most welcome byproduct of that. However, what no one ever talks about is, the fact that one of the biggest obstacles to doing all these amazing things is unprocessed, unconscious childhood trauma. No matter how much you "learn" with your adult brain, unless you get your wounded inner child out of their self-pity, complaining, negativity, and love and empower them, it will slow you down and even sabotage everything for you. It's not only about book / video / podcast knowledge, it's a lot about building that inner psychological healing 💓

[sander]

I have seen a few interviews with Morgan already, but nearly all of them went just about finances. It was great to here this conversation, where al lot of information from his books can be applied to our health aswell!

[lindaelarde]

SMART goals! Specific, measurable, achievable, relevant, and timely...with an emphasis on achievable and timely.
Or, as the late Bishop Desmond Tutu said, "You can eat a whole elephant, but only one bite at a time." Wisdom comes in many forms! 😊

[tankgojet]

I think Discovery and alignment to what makes you happy is the first key to happiness. We are so programmed by our upbringing that may go against with the wiring we were born with. And many times the external world, doesn't get along with our internalized world, that's what causing the unhappiness.

[AutoClubLA]

I often met rich people that claims loudly that money is not important but from all of them I haven't found one that would give his 'unimportant" money to me. In discussion, when I ask them in their face, suddenly they become speachless ....they just lied and being caught.

[shejwalkarhemant]

Morgan has that special gift. He is a genuine well wisher of any and every one. ❤️

[pataleno]

Love Morgan. So clear and definitely helped me on my career path and what money means. Through listening to Morgan I’ve identified what is enough and will retire soon as I have enough.

[junderunner]

What worries me with the idea of basing happiness on relationships is that even this foundation is fragile. For if tragically one loses these relationships, then what is left? How do you replace the loss of what both of these men agree is of supreme importance to a happy life? I kept waiting to hear them speak of something higher, that transcends even human love which, as said, is fragile and has no guarantee of permanence. Should we not consider the possibility of - the need for - a higher love, the love of God which can never be lost, and which can provide even greater happiness and meaning to life?

[sheejaeldo]

Thank you doctor for this very wonderful podcast with your guest. Truly enjoyed with a lot of takeaways about life.

[thespartanphysique]

Money is the root of most people, including myself. We are caught in this endless race just so we can pay bills and not end-up homeless.

[andrewtruong]

Thank you one million time Morgan, You gave me great motivation to get my family back, help me find my purpose of my life. Thank you from Sydney Australia.

[barbbrazes]

Excellent interview, very thought-provoking and interesting! Thanks!!

[wljywum]

Thanks, Kevin, for these ...looking forward to the full special. Stay Safe ...

[juiceitwithzita]

When l started listening, l thought l would hear about investment strategies. What l heard was life-changing. It was more about what true happiness means. My biggest takeaway is having agency over my life, and most other things will fall into place. I also love that l should be careful about who l admire, especially money-wise, because happiness is a spectrum. My family is my most important priority!

[ornyoko]

A good listen! Just finished the podcast 👏

[veronikataratutova]

Wat een enriching conversation.thank u .it was so nice to hear u speak from your hearts.

[stewiecountry]

Great conversation…it was not what I expected to hear. Really enjoyed it, thanks!

[albertr]

Interesting podcast. Every author has a different story about how people become rich. I agree with some of his ideas. We should not compare ourselves to others. We are all different.

[teresalouro]

The only good thing about money is that it gives you options.