I’ve been a millionaire, strung out on cocaine for five years and was not really happy. I’ve been broke, clean and sober and miserable. I have been a millionaire, clean and sober and have been ecstatically happy. I have never been broke and really happy. When you don’t have enough money to really enjoy life and do anything you want life isn’t a whole lot of fun. Anyone who says that having millions doesn’t make you happier and more content has never had millions. Not having to worry about anything financially adds to your level of contentment immensely.
I tend to agree more with Tim Ferriss here, because people like Keanu Reeves, Denzel Washington, Dirk Nowitzki, Adam Sandler have "f***-you-money" and they are still described as down to earth and empathetic by the people around them.
The underlying issue is that most people today have no clue what gratitude is… being grateful for the things you already have is the source of true happiness in my honest opinion.
I knew what I wanted when I was a teenager. Every time I was ever asked what I would do differently if I had money over the decades the answer was always the same. Nothing, money would just speed me up. Due to health issues and bad luck I am still in the same position. I have been working on solutions daily for decades. I still need money to speed up the process. I will not stop. I still have hope. I might sound negative, I'm not. Thanks Tim for your decades of positive work! I appreciate you.
This is such a limited conception of money. It also disagrees with research that consistently shows that more money correlates with more satisfaction in life, even though there are diminishing returns and the relationship is non-linear. More money can buy access to the things that make you happy, including access to therapy and the time to put therapy into practice. So, sure, money cannot buy "happiness" per se, but it definitely helps! Also, think about the reverse: poverty introduces additional barriers that interfere with happiness, many of which money could overcome.
Money can buy happiness, but happiness is not something to strive for. Even depressed people can be happy and laugh. He is completely off the base, money buy happiness but it does not buy peace or contentment.
The word missing is contentment. Happiness is a fleeting experientially driven emotion. Similar to optimism vs Hope. Contentment is from within and emanates from an understanding of one’s purpose and place in the world, the unique gifts and flaws bestowed and a full embrace of the responsibilities and realities that go along with all of that.
@@MangosInTrees Problem is that Morgan is completely wrong that it almost becomes funny. People like Morgan has are unhappy because they have a flawed relationship with happiness. Happiness is temporary and will not make your life noticably happy. You can buy laughs and smiles with your money, even depressed people can laugh and smile. Contentment or peace is what everyone should strive for and you definitely don't get that with money.
This is why as you grow in wealth, follow the teachings of Sadhguru. "I am a mother to the world." Because once high-level business clicks, and people grasp how money works, and can be easy to obtain on every level. Self-program yourself into these teachings. Sadhguru speaks we are all seeking the same thing, Love, Joy, Bliss, and Ecstasy. I feel it is so important to grow in these spiritual lessons along with business and wealth. Again, I am a mother to the world (as I grow). Inner Engineering crash course • All the rules are my rules • I am responsible for everything • What there is right now is all there is. There can be no other way. • I am not this body; I am not this mind. • and I am a mother to the world.
Conor McGregor as well. Fame and money marinated his mind and soul, defeats pulled him down to earth and he now remains a man trying to be some sort of action figure
I disagree. Having money takes off a lot of pressure from people. It won't fix everything, but it makes life a lot easier. I remember i bought my first apartment at 27 and i was loking at paying it off for the next 15 years. And i was in a horrible high tension life in an IT firm. I went abroad, saved a ton and repaid the loan in a couple of years. Trust me thst took off a lot of pressure off me. I now never have to worry about having a roof over my head. Can i be happier? Yes of course. But basic stresses like rent or oaying off my mortgage are not there and i am not tensed about it.
Yes, the accepted research I’ve seen is that money makes you happier up to the point that your basic needs are met, massive debt is paid off, etc. Beyond that, you only get margin gains in happiness. However, this video’s message is to the folks that are in a stable financial situation yet still unhappy.
What if the only way to make enough money is to sacrifice the only thing you love? This is what is wrong with the world. We are punishing people in our world who have incredible gifts who may never be able to become actualized because they need money to survive which sucks away all their time and energy.
Nutrition and fitness have HUGE impacts on our minds/happiness. Money buys better nutrition and time for fitness. Housework, mowing the lawn, and most minimum wage jobs negatively affect things. Money doesn't buy happiness, but it does stack the deck towards happiness. It increases the odds that your happiness-congruent actions like eating healthy, exercising, spending time with your family and friends etc will create the desired results.
Maybe im superficial. When I was depressed I ended up getting a highly paid job. Man...that helped a lot getting out of the depression no bullshit. I felt more confident and secure as a man.
You need only to look at recent world events to realize that money doesn't shield you from tragedy. Billionaire Mike Lynch and his daughter just died a terrifying death when their yacht suddenly sunk. Billionaire Google executive Susan Wojcicki lost her son to an overdose earlier this year, and just recently lost her life to cancer. I went to high school with the children of a billionaire. The eldest daughter committed suicide. The son was a pothead back when marijuana was illegal. The youngest child was seemingly the only one of the three who made it out healthy and well adjusted.
Exactly. We have ample records of rich people’s lives (actions and thoughts), from antiquity to this day. Betting everything on “making millions by whatever means” might be a good idea if we lived 500-1000 years. But committing such a short presence on this rock in space to accruing math symbols in a database? Looking back in your 40s, 50s, 60s and saying “man, am I glad I spent my best years on making millions with a laundromat chain / supplements franchise / mergers & acquisitions, while given a 1 a trillion opportunity to exist as a conscious being”?
a point to be made - if one understands money as a lever for his or her own interests before the actual big money rolls in one's personality wouldn't probably change that drastically in comparison to suddenly stumbling into fuck you level money without having the slightest idea what money can or could do for you.
Most people spend the majority of their adult lives in the pursuit of “success” in a broad range of forms which likely includes money. If a person does not continuously focus on self improvement, resiliency, and maturity during that pursuit, they will inevitably have nothing to fall back on once they’ve achieved or exceeded their success benchmark. They’ll find that upon achieving that benchmark, it wasn’t what they thought it would be thereby making this lifelong challenge meaningless. Growth requires pain and discomfort. Once you have money, you can at least choose what kind of pain and discomfort you wish to experience for a planned outcome, rather than feeling like things are happening to you. That is the advantage of “f*ck you money”, because it allows you to say “no, I don’t want your pain, I’ll choose something better for me.”
I've often thought that about a decade of extreme wealth changes the great majority of people for the worse. It's almost inevitable. I think with time they forget who they were and lose touch with what it's like to struggle. I think entitlement grows with every million. And disdain. That's why really weathly people don't care about others. Though they may say they do. That's why trickle down could never work.
Depends on why you're depressed. I also think that it depends on the person and their perspective about money. The less important a value fame and money are, probably the more happy they would make you because you don't let your ego become based on them. Then, it also depends on who you have around you. If you have people around you who just see you as something they desire for what you have in your pockets or what you can give them access to, then you're going to become isolated, lonely, miserable so pick. your friends even more carefully if you have money (or fame).
Money reveals who you really are...I think I'd still be me just amplified. More generous...I'm pretty happy normally baseline so...yeah...more the same.
One aspect of practicing Yoga addresses 'happiness' (life IS suffering but what you make of it is up to you) and is why deep contentment is a hallmark of the advanced practitioner; maybe that's the Russel Simmons example. Jajaja. Money used to be the root of all evil, now it is our only compass.
Enough money to be yourself minus the social compromises... Probably a little more one dimensional... Much more focused on what you yourself believe is important. Plus, you'd have much more choice on who you can interact with, and likely be able to build an echo chamber that supports your causes / mission...
A take, this is one take, just a bunch of words to say this guy is not including a complete study group. Money is a multiplier. One that most people can do better with.
Lube. Money is like lube. If used in the right way, you can prevent bad things from happening that would otherwise require rebuilding. If you're a terrible builder, you're probably going to fuck it up. Some people are just single floor builders. Some people don't realize they aren't using a desk, they are using an inflatable ball as a drafting table.
You say that money changes who you are and money doesn't change who you are. Which is it? Or is it both, in which case why make such a big deal out of each?
This seems complete nonsense, money makes you happier only if you are already happy? What? It’s the opposite: if you are very bad financially, depressed, a rise of incomes makes in fact you happier, as it makes a big difference in your life. Complete nonsense, doesn’t feel any authority in this point of view
A person who has experiences with socializing while being real poor, does not have the adverse effects of mistreatment or FU Edgar kinda attitude in social context. Trump and Musk are doing anything for power.
You are measuring money under the wrong metric. Being poor for decades is not only overrated more often than not we suffer abuse. This abuse follows you.
I dont think its all that with Trump. I think he's choosing to play a character that accomplishes his objectives, and the objectives today are different than they were in the 1980s. His way of communicating now helps him maneuver his current environment, as well as speak in a way that can even be understood by less intelligent people (simpler words, less nuanced communication). And then he uses a lot of rhetorical chess / wrestling moves. He is like a dude constantly wrestling dozens of alligators with his words. And I've already seen a lot of his older interviews / am familiar with them already
Watch the FULL interview with Morgan Housel, Author of The Psychology of Money: ua-cam.com/video/InQb76J9-HY/v-deo.html
I’ve been a millionaire, strung out on cocaine for five years and was not really happy. I’ve been broke, clean and sober and miserable. I have been a millionaire, clean and sober and have been ecstatically happy. I have never been broke and really happy. When you don’t have enough money to really enjoy life and do anything you want life isn’t a whole lot of fun. Anyone who says that having millions doesn’t make you happier and more content has never had millions. Not having to worry about anything financially adds to your level of contentment immensely.
Being poor for decades is overrated.
I tend to agree more with Tim Ferriss here, because people like Keanu Reeves, Denzel Washington, Dirk Nowitzki, Adam Sandler have "f***-you-money" and they are still described as down to earth and empathetic by the people around them.
The underlying issue is that most people today have no clue what gratitude is… being grateful for the things you already have is the source of true happiness in my honest opinion.
I had a mentor who would say, "Money doesn't solve all your problems, but it does solve all your money problems"
1:30 Money is an amplifier
2:50 Nobody would be the same if they could afford to be different
4:45 Money can buy contentment
I knew what I wanted when I was a teenager. Every time I was ever asked what I would do differently if I had money over the decades the answer was always the same. Nothing, money would just speed me up. Due to health issues and bad luck I am still in the same position. I have been working on solutions daily for decades. I still need money to speed up the process. I will not stop. I still have hope. I might sound negative, I'm not. Thanks Tim for your decades of positive work! I appreciate you.
This is such a limited conception of money. It also disagrees with research that consistently shows that more money correlates with more satisfaction in life, even though there are diminishing returns and the relationship is non-linear.
More money can buy access to the things that make you happy, including access to therapy and the time to put therapy into practice.
So, sure, money cannot buy "happiness" per se, but it definitely helps!
Also, think about the reverse: poverty introduces additional barriers that interfere with happiness, many of which money could overcome.
Money is energy.
Money can buy happiness, but happiness is not something to strive for. Even depressed people can be happy and laugh. He is completely off the base, money buy happiness but it does not buy peace or contentment.
The word missing is contentment. Happiness is a fleeting experientially driven emotion. Similar to optimism vs Hope. Contentment is from within and emanates from an understanding of one’s purpose and place in the world, the unique gifts and flaws bestowed and a full embrace of the responsibilities and realities that go along with all of that.
5:23
@@MangosInTrees Problem is that Morgan is completely wrong that it almost becomes funny. People like Morgan has are unhappy because they have a flawed relationship with happiness. Happiness is temporary and will not make your life noticably happy. You can buy laughs and smiles with your money, even depressed people can laugh and smile. Contentment or peace is what everyone should strive for and you definitely don't get that with money.
Coincidentally I just re-listened to this episode yesterday, for probably the 5th time all the way through. Fantastic interview
This is why as you grow in wealth, follow the teachings of Sadhguru. "I am a mother to the world." Because once high-level business clicks, and people grasp how money works, and can be easy to obtain on every level. Self-program yourself into these teachings. Sadhguru speaks we are all seeking the same thing, Love, Joy, Bliss, and Ecstasy. I feel it is so important to grow in these spiritual lessons along with business and wealth. Again, I am a mother to the world (as I grow).
Inner Engineering crash course
• All the rules are my rules
• I am responsible for everything
• What there is right now is all there is. There can be no other way.
• I am not this body; I am not this mind.
• and I am a mother to the world.
It always reveals you, the true you, and more often than not, it AMPLIFIES the Real You!
Conor McGregor as well. Fame and money marinated his mind and soul, defeats pulled him down to earth and he now remains a man trying to be some sort of action figure
I disagree. Having money takes off a lot of pressure from people. It won't fix everything, but it makes life a lot easier. I remember i bought my first apartment at 27 and i was loking at paying it off for the next 15 years. And i was in a horrible high tension life in an IT firm. I went abroad, saved a ton and repaid the loan in a couple of years. Trust me thst took off a lot of pressure off me. I now never have to worry about having a roof over my head. Can i be happier? Yes of course. But basic stresses like rent or oaying off my mortgage are not there and i am not tensed about it.
Yes, the accepted research I’ve seen is that money makes you happier up to the point that your basic needs are met, massive debt is paid off, etc. Beyond that, you only get margin gains in happiness. However, this video’s message is to the folks that are in a stable financial situation yet still unhappy.
What if the only way to make enough money is to sacrifice the only thing you love? This is what is wrong with the world. We are punishing people in our world who have incredible gifts who may never be able to become actualized because they need money to survive which sucks away all their time and energy.
This is exactly what he answers at the end of the video: "Money won't make you happier, but it can make you content"
Nutrition and fitness have HUGE impacts on our minds/happiness.
Money buys better nutrition and time for fitness.
Housework, mowing the lawn, and most minimum wage jobs negatively affect things.
Money doesn't buy happiness, but it does stack the deck towards happiness. It increases the odds that your happiness-congruent actions like eating healthy, exercising, spending time with your family and friends etc will create the desired results.
Maybe im superficial. When I was depressed I ended up getting a highly paid job. Man...that helped a lot getting out of the depression no bullshit. I felt more confident and secure as a man.
Money makes you happy. Money changes you as it should.💯
Money is simply an enabler. It's purpose is to enable you to get what you think you need.
If you're depressed and get a lot of money, use some of it to get the best help you can for depression. That's a start for a better direction.
Money, like alcohol, doesn't really change you, it just reveals who you really are.
Money delays suffering and bring options. It’s the fuel, not the engine that pumps happiness
you can only delay so long
Learning who we are, Fixing relationships and our relationship to others in general is more nourishing than riches.
Money and fame don't change people, they are amplifiers. I agree more with Tim here
You need only to look at recent world events to realize that money doesn't shield you from tragedy. Billionaire Mike Lynch and his daughter just died a terrifying death when their yacht suddenly sunk. Billionaire Google executive Susan Wojcicki lost her son to an overdose earlier this year, and just recently lost her life to cancer. I went to high school with the children of a billionaire. The eldest daughter committed suicide. The son was a pothead back when marijuana was illegal. The youngest child was seemingly the only one of the three who made it out healthy and well adjusted.
Exactly. We have ample records of rich people’s lives (actions and thoughts), from antiquity to this day. Betting everything on “making millions by whatever means” might be a good idea if we lived 500-1000 years. But committing such a short presence on this rock in space to accruing math symbols in a database? Looking back in your 40s, 50s, 60s and saying “man, am I glad I spent my best years on making millions with a laundromat chain / supplements franchise / mergers & acquisitions, while given a 1 a trillion opportunity to exist as a conscious being”?
"Money can reduce the number of sad days that you have. But it's probably not going to increase the number of happy days that you have."
a point to be made - if one understands money as a lever for his or her own interests before the actual big money rolls in one's personality wouldn't probably change that drastically in comparison to suddenly stumbling into fuck you level money without having the slightest idea what money can or could do for you.
Most people spend the majority of their adult lives in the pursuit of “success” in a broad range of forms which likely includes money. If a person does not continuously focus on self improvement, resiliency, and maturity during that pursuit, they will inevitably have nothing to fall back on once they’ve achieved or exceeded their success benchmark. They’ll find that upon achieving that benchmark, it wasn’t what they thought it would be thereby making this lifelong challenge meaningless. Growth requires pain and discomfort. Once you have money, you can at least choose what kind of pain and discomfort you wish to experience for a planned outcome, rather than feeling like things are happening to you. That is the advantage of “f*ck you money”, because it allows you to say “no, I don’t want your pain, I’ll choose something better for me.”
I've often thought that about a decade of extreme wealth changes the great majority of people for the worse. It's almost inevitable. I think with time they forget who they were and lose touch with what it's like to struggle. I think entitlement grows with every million. And disdain. That's why really weathly people don't care about others. Though they may say they do. That's why trickle down could never work.
Depends on why you're depressed. I also think that it depends on the person and their perspective about money. The less important a value fame and money are, probably the more happy they would make you because you don't let your ego become based on them. Then, it also depends on who you have around you. If you have people around you who just see you as something they desire for what you have in your pockets or what you can give them access to, then you're going to become isolated, lonely, miserable so pick. your friends even more carefully if you have money (or fame).
Money reveals who you really are...I think I'd still be me just amplified. More generous...I'm pretty happy normally baseline so...yeah...more the same.
Brilliant as always 💚 Was a Great interview. Money does help
I'm getting impatient for this sabbatical to end.
One aspect of practicing Yoga addresses 'happiness' (life IS suffering but what you make of it is up to you) and is why deep contentment is a hallmark of the advanced practitioner; maybe that's the Russel Simmons example. Jajaja. Money used to be the root of all evil, now it is our only compass.
Money, Fame can become a simple purchase of your insecurities and trauma…
Anyone know of this documentary he's taking about?
Irregardless is said about money, if you have money you can get paid help. Ain't no way you can get that with no money.
→ If you have a happy personality, you're going to be happy...
Enough money to be yourself minus the social compromises... Probably a little more one dimensional... Much more focused on what you yourself believe is important.
Plus, you'd have much more choice on who you can interact with, and likely be able to build an echo chamber that supports your causes / mission...
Counting beans here, I want money to make me different 😂
A take, this is one take, just a bunch of words to say this guy is not including a complete study group. Money is a multiplier. One that most people can do better with.
No I can't agree money buys you contentment. You can't be content if you're depressed no matter how much money you have.
Lube. Money is like lube. If used in the right way, you can prevent bad things from happening that would otherwise require rebuilding. If you're a terrible builder, you're probably going to fuck it up. Some people are just single floor builders. Some people don't realize they aren't using a desk, they are using an inflatable ball as a drafting table.
You say that money changes who you are and money doesn't change who you are. Which is it? Or is it both, in which case why make such a big deal out of each?
amaaaziiiing! 👏👏👏
If you are not happy with a cup of coffee, then you won't be happy with a magnum of champagne.
For whatever reason, I thought Ferris had tacit support for Donald Trump. Was I wrong?
Of course it would change you. You could afford to travel and fully engage in expensive hobbies.
This seems complete nonsense, money makes you happier only if you are already happy? What? It’s the opposite: if you are very bad financially, depressed, a rise of incomes makes in fact you happier, as it makes a big difference in your life.
Complete nonsense, doesn’t feel any authority in this point of view
Housel sounds like he is literally making most of these supposed facts up.
Tim doesn't seem to be aging much. WOW
Jesus makes me happy
Money can help, you can buy frederick dodson,julien blanc and tony robbins help❤🎉 and also good psychologist and psychiatrists
I dont think earning more money makes you happier. Maybe more reliefed
Let me guess who you vote for !? Haha
2:25 Very mindful, very cutesy, very demure
A person who has experiences with socializing while being real poor, does not have the adverse effects of mistreatment or FU Edgar kinda attitude in social context.
Trump and Musk are doing anything for power.
Wow sounds complicating
Oversimplification at its best in this opinion …
What’s “f-you money” anyway? From what I know, Tim has it so why is speaking in speculative hypotheticals?
Ì dont think 1 billion $ would change Tim. Not much.
It’s really hard to know any podcaster personally.
Whos Jaipaal Ghetti
Money or no money you always need to be nice. Otherwise your just an asshole.
You are measuring money under the wrong metric.
Being poor for decades is not only overrated more often than not we suffer abuse.
This abuse follows you.
cope
I dont think its all that with Trump. I think he's choosing to play a character that accomplishes his objectives, and the objectives today are different than they were in the 1980s. His way of communicating now helps him maneuver his current environment, as well as speak in a way that can even be understood by less intelligent people (simpler words, less nuanced communication). And then he uses a lot of rhetorical chess / wrestling moves. He is like a dude constantly wrestling dozens of alligators with his words.
And I've already seen a lot of his older interviews / am familiar with them already
Wow sounds complicating