Morgan Housel: How to ACTUALLY Build Wealth, Investing to Gain Financial Independence | E266

Morgan Housel made his first investment when he was 18, putting $1,000 into a certificate of deposit at his local bank. When he started to make some interest on that investment, he was hooked. He devoured books on finance and economics, eventually becoming a financial columnist for The Motley Fool and The Wall Street Journal. In today’s episode, Morgan shares why he thinks finance is more like psychology than physics, some of the common emotional pitfalls related to money, his secrets to staying rich, and much more.   Morgan Housel is a partner at The Collaborative Fund. He's the author of the best-selling book The Psychology of Money. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and winner of the New York Times Sidney Award. His latest book is Same As Ever: A Guide to What Never Changes.   In this episode, Hala and Morgan will discuss: - Serendipitously finding a job he loves - The skiing accident that changed his life - What he learned from James Clear and Atomic Habits - How behavior can trump smarts - Why finance is more like psychology than physics - Independence and the purpose of wealth - Common emotional pitfalls related to money - Secrets to staying rich - What Bill Gates can teach you about optimism - Which unappreciated trait of Warren Buffet we should emulate - How stress can be a good thing - And other topics…   Morgan Housel is a partner at The Collaborative Fund. He's the author of the best-selling book The Psychology of Money. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers and winner of the New York Times Sidney Award. In 2022, MarketWatch named him one of the 50 most influential people in markets. He serves on the board of directors at Markel. His latest book is Same As Ever: A Guide to What Never Changes.   Resources Mentioned:  Morgan’s Website: https://www.morganhousel.com/ Morgan’s LinkedIn: https://www.linkedin.com/in/morgan-housel-5b473821/ Morgan’s Instagram: https://www.instagram.com/morganhousel/ Morgan’s Twitter: https://twitter.com/morganhousel Morgan’s Podcast: https://podcasts.apple.com/us/podcast/the-morgan-housel-podcast/id1675310669  Morgan’s Book, Same as Ever (2023): https://www.amazon.com/Same-Ever-Guide-Never-Changes/dp/0593332709/  Morgan’s Book, The Psychology of Money (2020):https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681    LinkedIn Secrets Masterclass, Have Job Security For Life: Use code ‘podcast’ for 30% off at yapmedia.io/course.   Sponsored By: Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify Nom Nom - Go to youngandprofiting.co/trynomnom for 50% off on your two-week trial  HelloFresh - Go to HelloFresh.com/profitingfree and use code profitingfree for FREE breakfast for life! Indeed - Get a $75 job credit at indeed.com/profiting   More About Young and Profiting Download Transcripts - youngandprofiting.com  Get Sponsorship Deals - youngandprofiting.com/sponsorships Leave a Review -  ratethispodcast.com/yap Watch Videos - youtube.com/c/YoungandProfiting   Follow Hala Taha LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ TikTok - tiktok.com/@yapwithhala Twitter - twitter.com/yapwithhala   Learn more about YAP Media Agency Services - yapmedia.io/