Flight #90: The Psychology of Money

DESCRIPTION
What does it really take to be successful with money? In this episode, we dive into key insights from The Psychology of Money by Morgan Housel, discussing principles that can help transform your relationship with money. Whether you're preparing for retirement or simply trying to make smarter financial decisions, these lessons apply to everyone. You'll learn why discipline is crucial, how to face the reality of your financial choices, and why success can sometimes be your worst teacher.
We’ll also explore the concept of moving goalposts and how constantly shifting your financial targets can keep you from feeling content. Listen in to learn how to establish meaningful goals, what true financial independence looks like, and why the happiest people are those who use money to gain freedom, fulfillment, and satisfaction in life.
WHAT YOU’LL LEARN IN TODAY’S EPISODE
• The #1 attribute to being successful with money.
• The importance of behavior over knowledge.
• The power in having humility.
• Why you shouldn’t focus on your success to teach you things.
• How to make sure you’re not chasing an ever-moving goal.
• The importance of having a vision.
• Why you shouldn’t chase returns.
QUOTES
• “It’s okay to be content and have a vision at the same time.” - Charlie Mattingly
• “Your goals should be about the most important things in your life such as fulfillment or happiness and then we need to figure out how you can accomplish those things without any anxiety.” - Jon Cremer
• “With a moving goal post, you’ll work your entire life and your goal post will always be 10 steps ahead of you.” - Jon Cremer
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