It's all about getting out of victim mentality and taking as much control of your life as you can. This will also get you out of scarcity mentality and move you towards an abundance mindset. Then, based on your interests and talents, you can get to work towards building a meaningful career and a life of purpose. Forget about the extremes of being incredibly successful or rich. Worry about doing your own authentic thing on your own terms with a lot of self-discipline, and financial reward will be a most welcome byproduct of that. However, what no one ever talks about is, the fact that one of the biggest obstacles to doing all these amazing things is unprocessed, unconscious childhood trauma. No matter how much you "learn" with your adult brain, unless you get your wounded inner child out of their self-pity, complaining, negativity, and love and empower them, it will slow you down and even sabotage everything for you. It's not only about book / video / podcast knowledge, it's a lot about building that inner psychological healing 💓
I have seen a few interviews with Morgan already, but nearly all of them went just about finances. It was great to here this conversation, where al lot of information from his books can be applied to our health aswell!
I think Discovery and alignment to what makes you happy is the first key to happiness. We are so programmed by our upbringing that may go against with the wiring we were born with. And many times the external world , doesn't get along with our internalized world, that's what causing the unhappiness.
I agree. I'm unhappy with my life. At the same time I believe that even if I would have much more money now I would be unhappy. Money is important in basis, to get what you truly need, like decent food and a safe place to live and some form of transportation and good social connections (friends/ family). Other than that, it won't make you more happy. Even if I could go on the vacation I want and get a car and buy a house, I would very probably still be unhappy.
Thank you one million time Morgan, You gave me great motivation to get my family back, help me find my purpose of my life. Thank you from Sydney Australia.
SMART goals! Specific, measurable, achievable, relevant, and timely...with an emphasis on achievable and timely. Or, as the late Bishop Desmond Tutu said, "You can eat a whole elephant, but only one bite at a time." Wisdom comes in many forms! 😊
Love Morgan. So clear and definitely helped me on my career path and what money means. Through listening to Morgan I’ve identified what is enough and will retire soon as I have enough.
What worries me with the idea of basing happiness on relationships is that even this foundation is fragile. For if tragically one loses these relationships, then what is left? How do you replace the loss of what both of these men agree is of supreme importance to a happy life? I kept waiting to hear them speak of something higher, that transcends even human love which, as said, is fragile and has no guarantee of permanence. Should we not consider the possibility of - the need for - a higher love, the love of God which can never be lost, and which can provide even greater happiness and meaning to life?
When l started listening, l thought l would hear about investment strategies. What l heard was life-changing. It was more about what true happiness means. My biggest takeaway is having agency over my life, and most other things will fall into place. I also love that l should be careful about who l admire, especially money-wise, because happiness is a spectrum. My family is my most important priority!
I often met rich people that claims loudly that money is not important but from all of them I haven't found one that would give his 'unimportant" money to me. In discussion, when I ask them in their face, suddenly they become speachless ....they just lied and being caught.
@@foggycraw6758it’s the freedom to do what you want and buy what you want without blinking that’s important not the money. You just need to decide when you can do that. Of course you wouldn’t give that away. If I’ve got enough I’ll give it away to the people I love first.
..every single person that are very rich/successful say that money don't make them happy...right...but I have never heard anyone say that's why I gave it away...
What if you live far from family? I unwisely moved a 3 hr drive from my family to get married. That was 35 yrs ago. We visited, but it wasn’t enough. Most of my adult children have moved far away, to the far ends of the U.S. If I had stayed near my family of origin, I think I’d be a lot happier now. I’m trying to find a way to live there part time, have my mom visit here more…but it’s not enough. When I heard you say, Dr. Chatterjee, that you see your mum most fats, and have great relationships with your kids…they see her, too…I was super happy for you but also sad for myself because I didn’t realize all those years ago that I was moving away from my family, and I’m sorry I did. I will be grateful for advice.
I’ll add that I also, without realizing it, married an alcoholic. And I was a stay-at-home mom, devoted to my kids. I’m working on taking agency over my life. If I can gain enough financial independence, I can separate from this deeply painful marriage, live part time here near my local diner, and take extended stays near my family 3 hrs. away. I’m good at writing and editing; I’m seeking a way to find remote work. I’m trying not to agonize over not being able to change the past, where I wish I had raised my kids geographically closer to my mom. I’m trying yo look forward and create as much family unity as I can now. Maybe others have done this? I know it’s a long shot, but maybe, Dr. Chatterjee, you have advice, and/or would be willing to address this in one of your programs?
Interesting podcast. Every author has a different story about how people become rich. I agree with some of his ideas. We should not compare ourselves to others. We are all different.
I meeeeean, it’s not so black and white. To say a nicer car doesn’t bring happiness is not 100% true. We enjoy and function differently when things are better, nicer, more efficient, etc. Maybe finding the balance is the path.
That reverse obituary exercises pretty good, but it kind of misses the elephant in the room. It would be nice if there was someone around to read your obituary and maybe a few people to actually hear it😢
I enjoy your podcasts. Thank you for posting them here on YT. That said, you absolutely need to get a handle on your sponsor message placements. They're random, jarring, and inappropriate. When a guest whose primary message is that money doesn't provide happiness, gets cut off by a sponsor message shilling for money...well, you have a problem. I can only assume these placements are time based. There are better ways. I hope you find something that works better.
This is not for the minimum wage and zero hour contract workers. Financial adviser!?? Not everyone can afford shares. The people who pick the carrots, drive the lorries, build the shops, stack the shelves and produce the goods to sell in the shops. A lot of them can't afford shares. This man should be giving out financial advice to the people using food banks. Are these people who've made bad financial decisions. No!! They're the working class who produce the wealth of the country. The lottery ticket is their only hope. There is a class system. If everyone is a millionare who's going to pick the carrots? What a shame that the undeserving poor are buying lottery tickets! Shame on them and also shame on you for your lack of empathy
It slightly nauseating listening to two middle aged rich men imply that money doesn’t make you happy. It’s funny how you never hear a poor person say that. If you guys didn’t have enough money to pay your electricity bills or to buy a school uniform for your child or have to work such long hours to make ends meet that you couldn’t spend much time with your children I wonder how happy your marriages would be? Most of this conversation sounds disingenuous. I suspect people would respect you a lot more if, instead of congratulating each other on how amazing your lives are, you showed a bit of humility and gratitude. Most of what you have is sheer luck and chance( where you were born, to whom you were born, the opportunities you were given). Let’s get off our high horses and be a bit more empathetic to people who have a lot less. 😁
Morgan Housel, “Finanical freedom allows you to do WHAT you want, with WHO you want, for A LONG as you want.” Otherwise said, “Money buys family time.”
Looking for shorter clips or content? Check out my @DrChatterjeeClips channel
It's all about getting out of victim mentality and taking as much control of your life as you can. This will also get you out of scarcity mentality and move you towards an abundance mindset. Then, based on your interests and talents, you can get to work towards building a meaningful career and a life of purpose. Forget about the extremes of being incredibly successful or rich. Worry about doing your own authentic thing on your own terms with a lot of self-discipline, and financial reward will be a most welcome byproduct of that. However, what no one ever talks about is, the fact that one of the biggest obstacles to doing all these amazing things is unprocessed, unconscious childhood trauma. No matter how much you "learn" with your adult brain, unless you get your wounded inner child out of their self-pity, complaining, negativity, and love and empower them, it will slow you down and even sabotage everything for you. It's not only about book / video / podcast knowledge, it's a lot about building that inner psychological healing 💓
The Pursuit of Happiness (2006)
Second this
Morgan has that special gift. He is a genuine well wisher of any and every one. ❤️
I have seen a few interviews with Morgan already, but nearly all of them went just about finances. It was great to here this conversation, where al lot of information from his books can be applied to our health aswell!
I think Discovery and alignment to what makes you happy is the first key to happiness. We are so programmed by our upbringing that may go against with the wiring we were born with. And many times the external world , doesn't get along with our internalized world, that's what causing the unhappiness.
I agree. I'm unhappy with my life. At the same time I believe that even if I would have much more money now I would be unhappy. Money is important in basis, to get what you truly need, like decent food and a safe place to live and some form of transportation and good social connections (friends/ family). Other than that, it won't make you more happy.
Even if I could go on the vacation I want and get a car and buy a house, I would very probably still be unhappy.
Thank you one million time Morgan, You gave me great motivation to get my family back, help me find my purpose of my life. Thank you from Sydney Australia.
SMART goals! Specific, measurable, achievable, relevant, and timely...with an emphasis on achievable and timely.
Or, as the late Bishop Desmond Tutu said, "You can eat a whole elephant, but only one bite at a time." Wisdom comes in many forms! 😊
Love Morgan. So clear and definitely helped me on my career path and what money means. Through listening to Morgan I’ve identified what is enough and will retire soon as I have enough.
Thank you doctor for this very wonderful podcast with your guest. Truly enjoyed with a lot of takeaways about life.
Money is the root of most people, including myself. We are caught in this endless race just so we can pay bills and not end-up homeless.
What worries me with the idea of basing happiness on relationships is that even this foundation is fragile. For if tragically one loses these relationships, then what is left? How do you replace the loss of what both of these men agree is of supreme importance to a happy life? I kept waiting to hear them speak of something higher, that transcends even human love which, as said, is fragile and has no guarantee of permanence. Should we not consider the possibility of - the need for - a higher love, the love of God which can never be lost, and which can provide even greater happiness and meaning to life?
Usually we don't lose all friends, family and other good social connections at once.
Don't forget spiritual health
When l started listening, l thought l would hear about investment strategies. What l heard was life-changing. It was more about what true happiness means. My biggest takeaway is having agency over my life, and most other things will fall into place. I also love that l should be careful about who l admire, especially money-wise, because happiness is a spectrum. My family is my most important priority!
I often met rich people that claims loudly that money is not important but from all of them I haven't found one that would give his 'unimportant" money to me. In discussion, when I ask them in their face, suddenly they become speachless ....they just lied and being caught.
You are bang on
It's always a lie. Money is important
@@foggycraw6758it’s the freedom to do what you want and buy what you want without blinking that’s important not the money. You just need to decide when you can do that.
Of course you wouldn’t give that away. If I’ve got enough I’ll give it away to the people I love first.
Excellent interview, very thought-provoking and interesting! Thanks!!
..every single person that are very rich/successful say that money don't make them happy...right...but I have never heard anyone say that's why I gave it away...
Thanks, Kevin, for these ...looking forward to the full special. Stay Safe ...
What if you live far from family? I unwisely moved a 3 hr drive from my family to get married. That was 35 yrs ago. We visited, but it wasn’t enough. Most of my adult children have moved far away, to the far ends of the U.S. If I had stayed near my family of origin, I think I’d be a lot happier now. I’m trying to find a way to live there part time, have my mom visit here more…but it’s not enough. When I heard you say, Dr. Chatterjee, that you see your mum most fats, and have great relationships with your kids…they see her, too…I was super happy for you but also sad for myself because I didn’t realize all those years ago that I was moving away from my family, and I’m sorry I did. I will be grateful for advice.
I’ll add that I also, without realizing it, married an alcoholic. And I was a stay-at-home mom, devoted to my kids. I’m working on taking agency over my life. If I can gain enough financial independence, I can separate from this deeply painful marriage, live part time here near my local diner, and take extended stays near my family 3 hrs. away. I’m good at writing and editing; I’m seeking a way to find remote work. I’m trying not to agonize over not being able to change the past, where I wish I had raised my kids geographically closer to my mom. I’m trying yo look forward and create as much family unity as I can now. Maybe others have done this? I know it’s a long shot, but maybe, Dr. Chatterjee, you have advice, and/or would be willing to address this in one of your programs?
Great conversation…it was not what I expected to hear. Really enjoyed it, thanks!
A good listen! Just finished the podcast 👏
The only good thing about money is that it gives you options.
It's also it's hinder I think. Too many options often time ends up as indecisiveness
Wat een enriching conversation.thank u .it was so nice to hear u speak from your hearts.
He explained the lottery in such a good way
Interesting podcast. Every author has a different story about how people become rich. I agree with some of his ideas. We should not compare ourselves to others. We are all different.
“The lowest form of power is money. The highest form of power is prayer.”
I meeeeean, it’s not so black and white. To say a nicer car doesn’t bring happiness is not 100% true. We enjoy and function differently when things are better, nicer, more efficient, etc. Maybe finding the balance is the path.
It’s well known that most expensive mutual fund managers actually invest in low cost index funds, not their own funds. Think about that. 🤔
Thank you
Loved this
40% property
50% global stock ETF
7.5% gold
2.5% bitcoin
Your bitcoin will becone much higher percentage over time
Great interview, thanks
Excellent message.
Man or women lives not by bred alone the principle are in the Bibel Greeting from Switzerland I like your attitude
That reverse obituary exercises pretty good, but it kind of misses the elephant in the room.
It would be nice if there was someone around to read your obituary and maybe a few people to actually hear it😢
What is the full name of Derrick se… mentioned in this
Cover Photo was a jump scare😅
This is why religions exists.
I enjoy your podcasts. Thank you for posting them here on YT. That said, you absolutely need to get a handle on your sponsor message placements. They're random, jarring, and inappropriate. When a guest whose primary message is that money doesn't provide happiness, gets cut off by a sponsor message shilling for money...well, you have a problem. I can only assume these placements are time based. There are better ways. I hope you find something that works better.
What is his name? Morgan what?
Housel
C’mon Morgan. Had your booked flopped, you’re really saying it wouldn’t have influenced you with regard to “happiness”??
This feels a bit gaslighty
This is not for the minimum wage and zero hour contract workers. Financial adviser!?? Not everyone can afford shares. The people who pick the carrots, drive the lorries, build the shops, stack the shelves and produce the goods to sell in the shops. A lot of them can't afford shares.
This man should be giving out financial advice to the people using food banks. Are these people who've made bad financial decisions. No!! They're the working class who produce the wealth of the country.
The lottery ticket is their only hope. There is a class system. If everyone is a millionare who's going to pick the carrots?
What a shame that the undeserving poor are buying lottery tickets! Shame on them and also shame on you for your lack of empathy
It slightly nauseating listening to two middle aged rich men imply that money doesn’t make you happy. It’s funny how you never hear a poor person say that.
If you guys didn’t have enough money to pay your electricity bills or to buy a school uniform for your child or have to work such long hours to make ends meet that you couldn’t spend much time with your children I wonder how happy your marriages would be?
Most of this conversation sounds disingenuous. I suspect people would respect you a lot more if, instead of congratulating each other on how amazing your lives are, you showed a bit of humility and gratitude. Most of what you have is sheer luck and chance( where you were born, to whom you were born, the opportunities you were given). Let’s get off our high horses and be a bit more empathetic to people who have a lot less. 😁
Morgan Housel, “Finanical freedom allows you to do WHAT you want, with WHO you want, for A LONG as you want.” Otherwise said, “Money buys family time.”
He wrote a letter sure he's not the mother!! No way would I have had time for writting letters with anewborn.. only sleep 😅🥱
Anyway, great conversation! Thank you both