The Savings Expert: “Do Not Buy A House!” Do THIS Instead! - Morgan Housel

ℹ️ EPISODE INFO

Released

November 6, 2023

Duration

1h 57m

Channel

The Diary of a CEO

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

If you enjoy hearing about how to master the world of finance, I recommend you check out my conversation with Ramit Sethi, which you can find here: https://www.youtube.com/watch?v=ORqd9QAC8OY 00:00 Intro 02:23 Why Do You Write Books About Money? 04:14 The Psychology of Money & What Wealth Really Means 10:53 Why Not Having Control in Your Life Is Making You Unhealthy and Unhappy 14:05 Why You Need to Learn to Stop Pushing Your Financial Goals 18:20 The First and Most Important Rule of Happiness 22:16 The Most Valuable Financial Skill Anyone Can Have 25:35 The Most Important Saying for a Relationship or Career 27:48 Why Low Income People Are More Reckless With Money 32:17 How to Learn to Finally Save Your Money 35:55 A Tragic Incident That Taught Me My Most Valuable Lesson About Money 41:33 Investing and the Biggest Mistake Most People Make 45:55 The Best Advice on How to Invest Your Money 51:58 The Janitor That Became a Multimillionaire 54:41 Pensions 56:28 How Do We Know When Enough Is Enough? 59:34 Should We Save Our Money for Our Children? 01:03:19 Why You Should Never Check Up on Your Investments 01:07:34 The Benefits of Not Working for Big Companies 01:08:58 Why Everyone Is Bullshitting Their Way Through Investing 01:11:27 Why You Should Take That Risk 01:17:32 The Best Bit of Advice I Ever Received 01:26:15 The Biggest Factor That Will Ensure You Lose Your Money 01:31:48 The Confidence Rule Around Your Finances You Need to Know 01:41:55 The Power of a Great Story 01:44:42 The Power of Compounding Interest 01:50:15 Bad Times Often Change Us for Good 01:53:03 Wealth Creation Conclusion 01:53:57 The Last Guest’s Question You can purchase Morgan’s most recent book, ‘Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life’, here: https://amzn.to/467d77x Follow Morgan: Instagram: https://bit.ly/3spU4HK Twitter: https://bit.ly/40mE6uF Flightfund: https://flightfund.com/ My new book! 'The 33 Laws Of Business & Life' is out now: https://smarturl.it/DOACbook Listen on: Apple podcast - https://podcasts.apple.com/gb/podcast/the-diary-of-a-ceo-by-steven-bartlett/id1291423644 Spotify - https://open.spotify.com/show/7iQXmUT7XGuZSzAMjoNWlX Join this channel to get access to perks: https://www.youtube.com/channel/UCGq-a57w-aPwyi3pW7XLiHw/join FOLLOW ► Instagram: https://www.instagram.com/steven/ Twitter: https://x.com/StevenBartlett?s=20 Linkedin: https://www.linkedin.com/in/steven-bartlett-56986834/ Sponsors: British Airways: https://www.britishairways.com/en-gb/offers/sale Huel: https://g2ul0.app.link/G4RjcdKNKsb Eightsleep: https://www.eightsleep.com/uk/steven/ CODE: STEVEN (save $150 on the Pod Cover)

🎤 SPEAKERS

• Morgan Housel

  guest

• Steven Bartlett

  host

🧾 EPISODE SUMMARY

In this episode of The Diary of a CEO, featuring Morgan Housel and Steven Bartlett, The Savings Expert: “Do Not Buy A House!” Do THIS Instead! - Morgan Housel explores stop Chasing Rich, Start Buying Freedom: Morgan Housel’s Money Playbook Morgan Housel argues that true wealth is not flashy spending but unspent money that buys you independence, time, and autonomy. Drawing on stories from his family, Warren Buffett, a janitor-turned-millionaire, and his own brush with death, he shows that endurance, low expectations, and emotional control matter more than IQ or stock‑picking genius.

🔗 RELATED EPISODES

Pulitzer Prize Historian: You Won't Notice Until It’s Too Late

Professor Jiang: World War 3 Has Already Begun, Let Me Explain!

Stanford Neuroscientist: Can’t Remember Your Dreams? Your Brain May Be Warning You!

The Divorce Expert: 86% Of People Who Divorce Remarry! Why Sex Is Causing Divorces!

The Exercise Neuroscientist: NEW RESEARCH, The Shocking Link Between Exercise And Dementia!

Charlamagne tha God Opens Up About His Depression & Childhood Trauma!