The Dead Simple Strategy That Will Make Your Great Grandchildren Rich | ft. Morgan Housel

ℹ️ EPISODE INFO

Released

December 20, 2023

Duration

35m

Channel

My First Million

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd Episode 533: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Morgan Housel about the psychology of building generational wealth and the one strategy that works better than any 20% return. — Show Notes: (0:00) Intro (2:30) Strive for averageness (13:00) Financial anti-goals (15:30) Sam and Morgan argue about money and anxiety (18:30) Biggest psychological trap with money (23:00) The biggest risk no one is talking about (27:00) Worry about what doesn't change (30:00) How to action sameness (33:00) Morgan's history book diet — Links:

• Same as Ever - https://tinyurl.com/2zd2u9mt
• Psychology of Money - https://tinyurl.com/yc423xct

— Check Out Shaan's Stuff:

• Shaan's weekly email - https://www.shaanpuri.com
• Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents.

— Check Out Sam's Stuff:

• Hampton - https://www.joinhampton.com/
• Ideation Bootcamp - https://www.ideationbootcamp.co/
• Copy That - https://copythat.com
• Hampton Wealth Survey - https://joinhampton.com/wealth

💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch For more quality videos subscribe here → https://tinyurl.com/46rjnckx 🔔 Turn on notifications to stay updated with new uploads

🎤 SPEAKERS

• Morgan Housel

  guestGreat Minds guide →

  Author of "The Psychology of Money" and "Same as Ever"; finance writer focused on behavior and long-term investing.

• Sam Parr

  host

  Co-host of My First Million; entrepreneur and founder of The Hustle.

• Shaan Puri

  host

  Co-host of My First Million; entrepreneur and investor.

🧾 EPISODE SUMMARY

In this episode of My First Million, featuring Morgan Housel and Sam Parr, The Dead Simple Strategy That Will Make Your Great Grandchildren Rich | ft. Morgan Housel explores Morgan Housel on Average Returns, Endurance, and What Never Changes Housel argues that earning average index-fund returns for 50 years beats chasing top returns in any single year, citing roughly 6.5% real US stock returns and PIMCO's 'strategic mediocrity'.

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