Podcast Notes Key Takeaways

• Wealth brings some respect and admiration, but not nearly as much as you think
• Wealth’s greatest power: having the freedom to do what you want, when you want (and people are happier when they have control over their schedules)
• If you make over $32k/year, you’re in the top 1%—it’s all a matter of perspective
• “Wealth is what you don’t spend” – Morgan Housel
  • Wealth is the Ferrari you didn’t buy; wealth is the bigger house you passed on; wealth is the first-class ticket you didn’t pay for
• The best thing you can do to increase your chances of becoming wealthy: live below your means
• No one can predict the stock market
• The number one variable that determines the success of your investments: whether or not you continuing holding an asset during a market downturn

Read the full notes @ podcastnotes.org



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Morgan Housel is a writer and investor.

Understanding the basics of money management is something none of us are taught but all of us need. Today we get a fantastic run down by a guy who's spent most of the last decade thinking about what wealth can do for us, how we can attain it, and more importantly how we can keep it.

Expect to learn... What is wealth? Why do rich people go bankrupt? Should I invest in Bitcoin? How can I maximise my wealth? What are the most important rules in trading? And much more.

Extra Stuff:

Follow Morgan on Twitter - https://twitter.com/morganhousel

Check out Morgan's Website - https://www.collaborativefund.com/blog/

Take a break from alcohol and upgrade your life - https://6monthssober.com/podcast

Check out everything I recommend from books to products - https://www.amazon.co.uk/shop/modernwisdom

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