About 5 years ago, Morgan's book changed my entire life as it relates to money and finance. Hopefully, you will enjoy this conversation as much as I do! 🧡Could you do us a massive favour and HIT that like button on the video! Helps us a lot 🙏 share your favourite part of the convo below 👇🏾
@Ounouh
10 ай бұрын
Hello. Please consider many people are listening these, so if you introduce a book (like in 18:30), don't just say "This book". Read the name and preferably also give the year it was published. Thank you :)
@user-jb9sz2lb3n
10 ай бұрын
Will you add to Spotify? Can't find it
@M4R5-C4V14R
10 ай бұрын
@@Ounouh he literally said, "Your new book which is out in November." If you can't be bothered to do a simple search for the book, then you don't deserve to learn from it. It also tells me that you didn't bother to listen to the whole thing before commenting because he says the name of the book at 35:20.
@marcl3763
10 ай бұрын
abit sad that your 'entire' life was changed by a book! think about it
@Threadbow
10 ай бұрын
I've seen this method tried. Now, those people are homeless, and those who bought homes have made massive profits and have housing security. Assets are wealth and generational wealth, too. Many can not retire as money in pensions stock shares crashed. I'm not convinced by this at all. Rent is through the roof, and those who lose their health cannot find rentals. Benefits don't even cover the rent, heat, or eat. At least with a house, you can rent out rooms. Look at the homeless who are not there by choice right now. Long term investment does not help those on the real low incomes. Do you own your own home? Not everyone can be successful in business. So many cannot retire due to shares dropping or crashed markets. Not much is making money in shares stocks atm.
@trazzpalmer3199
2 күн бұрын
I recently sold some of my long-term positions and am now sitting on around $250k; do you think Nvidia is a decent buy right now, or have I missed out on a critical buying period? Any solid stock recommendations on fantastic performing stocks would be greatly appreciated.
@SarahTaylor_
2 күн бұрын
Palantir, ARM, and Nvidia are still attractive buys, but what do I know? I'm not a financial counselor lol.
@EthanBrown_23
2 күн бұрын
Based on my own experience working with an investment advisor, I currently have $1 million in a well-diversified portfolio that has grown exponentially. It takes more than just money to invest in stocks; you must also be knowledgeable, persistent, and have strong hands.
@RobertBrown..
2 күн бұрын
i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
@EthanBrown_23
2 күн бұрын
“LAURELYN GROSS POHLMEIER ’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@Angelinacortez495
2 күн бұрын
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
@lnostdal
9 ай бұрын
I bought an old house with a big property, all cash. Refurbished it, added 10cm rockwool external insulation everywhere - then setup a huge solar array, my own water source, greenhouse, poultry, etc.. Cost of living is close to zero - with no debt. Best investment of my life.
@karamarie7646
9 ай бұрын
Woah! That's awesome. Where did you learn how to do all of this?? I have no idea where to start educating myself.
@rickyalan1227
9 ай бұрын
Amazing, where do you live?
@thehorsebackheroine5950
9 ай бұрын
And cudos to you for being awake. Many aren't.....
@kimberlysuaris1301
9 ай бұрын
That's great, but it means you need to have all that cash in the first place and most people don't.
@ChimobiHD
8 ай бұрын
Where?? And how did you get all the extra work done, by yourself?
@gigistar649
5 ай бұрын
I own a home but no other debt. It took me many years to learn this. but I no longer acquire stuff! I open a cabinet and if everything is visible and used routinely, I keep it. Less stuff= more time and joy. Stuff is a burden. I learned to be grateful for all around me. And stopped comparing myself to others. I am happy for the success of others. And I pray.
@j.h.d.2153
4 ай бұрын
Exactly 💯. Being modest, keep belongings to a minimum and not spending frivolously. If people could just look around them and see that "STUFF" really accumulates to possibly becoming a burden, then just maybe we would have a happier population. Stop buying to be showing!!! People, if all that spending was put into diversified investments and compounded over time... the amount of wealth grown is really remarkable. Financial literacy should be mandatory teaching in grade school. If children were shown, consistently, how much money can grow by compounded growth, I believe we would possibly have many more millionaires into adulthood and beyond. Just Google hoarding and look at the stats across North America alone. It's frightening!!! If everyone heard Denzel Washington when he said something along the lines of... you won't ever see a hearse driving down the street with a uhaul behind it.... Truth!! Try living a modest life, pray every day, and don't be buying to show off a possibly perishable and depreciating item... you just might be a little lighter and a little happier. May the Lord have mercy on all our souls 🙏 🕊🐾
@irielion3748
4 ай бұрын
A great post ruined by the 'pray' comment. Ruined.
@nnenne1
4 ай бұрын
@@irielion3748exactly, what has praying got to do with anything.
@zer0-cast
4 ай бұрын
@@irielion3748How dare he mention prayer. Pretend the last sentence doesn't exist, how about that? You can live with that and the sentence won't be ruined for you. It might come as a shock to you but believe it or not, there are people in the world that believe in prayer. Insane I know.
@ChristisKingOverMyLife
4 ай бұрын
@@zer0-cast And what's wrong with praying?
@ChristopherAbelman
Ай бұрын
This Housing market collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
@JosephineKenney
Ай бұрын
The stock market is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.
@FinnBraylon
Ай бұрын
I paid up all my mortgages in 2yrs while working with an asset manager. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
@HildaBennet
Ай бұрын
That is so amazing, I’m trying to get onto the ladder at 40. I wish at 55 I will be testifying to similar success. How can I reach this manager of yours? because I'm seeking for a more effective approach on my savings
@FinnBraylon
Ай бұрын
Sonya Lee Mitchell is her name. She is regarded as a genius in her area and works for Empower Financial Services.
@HildaBennet
Ай бұрын
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
@MikeCasey-z5m
Ай бұрын
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
@Anderson_313
Ай бұрын
Buy now, home prices will not go lower. If rates drop, you can refinance.
@geraldhoward6351
Ай бұрын
The government will have no choice but to print more notes and lower interest rates.
@AndersonNoah-o6l
Ай бұрын
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
@robertfurguson2678
Ай бұрын
This is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
@AndersonNoah-o6l
Ай бұрын
Finding financial advisors like Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@dravonwalker2352
9 ай бұрын
The most valuable skill is not needing to impress others. Such a genuine and true statement!!
@jrnmadsen2710
9 ай бұрын
True, before investing time, money or anything else, sit down and ask yourself "Why?" If the motive is pride, gaining admiration or status. Drop it, its the wrong way.
@mmitbitw
9 ай бұрын
As Morgan would say, spending money to show people how much money you have is the fastest way to have less money.
@frankyu6984
9 ай бұрын
it's really easy when you don't have any friends
@jrnmadsen2710
9 ай бұрын
@@frankyu6984 Who want fake friends making you acting?
@maximilianfeige2824
9 ай бұрын
Why would you want to impress others? Do people buy stuff to impress others?
@rameswarprasadpatnayak1988
9 ай бұрын
In case anyone's wondering. The house question comes at 1:36:00.
@mikeb8138
9 ай бұрын
thank you! scrolled far for this
@Isaacr90
4 ай бұрын
Thanks
@seasnow9394
3 ай бұрын
THANK YOU SO MUCH 🙏
@Skyfoxx23
2 ай бұрын
Thank you 🤗
@ester_22
2 ай бұрын
Actually is such a great interview it was the first time I didn't go to the spot they advertise, even knowing it by reading comment such as yours..
@nicolasbenson009
4 ай бұрын
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
@KarenLavia
4 ай бұрын
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@Hectorkante
4 ай бұрын
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
@KarenLavia
4 ай бұрын
My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@richardfowler9901
3 ай бұрын
Renting properties for investments has ruined working classes ppl .
@TheyRiseBand
3 ай бұрын
In 1990, the average price to income ratio was 4.5x. Today, it's 6x-10x, depending on area (averaging 7.7x). Completely unsustainable.
@holaizzy
10 ай бұрын
As a homeowner who paid rent for years, I completely disagree that owning a home doesn't pay off. Knowing that I have shelter regardless of how well I'm doing financially, is a world of difference from the fear of losing that security, due to fluctuations in income, or a rise in the cost of living and rent hikes.
@HappyroosterYT
10 ай бұрын
That depends, I guess, on whether or not you have enough savings, a "cushion", if you will, to sustain yourself if those things you mention happened (increase in living and rent, and so on). The good thing about being a homeowner, to add to your point, is that it's pretty much a long-term asset that will give you dividends in the long run (if you take care of maintaining it, that is), not only to you but also your offspring. It's also a safer bet because it's harder to screw up compared to stocks and other more volatile assets.
@followthefocusofficial
10 ай бұрын
Homeowner or mortgage owner? Not the same. Even if your house is paid off in full, it’s still at risk as if you fall on hard times, bills still need paying. Owning a home isn’t the be all and end all. I personally know a young couple, childless, both working 60+ hrs a week, don’t go out and mortgaged up to the hilt for 25yrs. What for?? There best years are being frittered away by handing over money to a bank that owns nothing and literally created money out of thin air.
@gracegwozdz8185
10 ай бұрын
Couldn't agree more. Owning your home is the best thing in life, next to having an empath for husband.
@gracegwozdz8185
10 ай бұрын
@@HappyroosterYT, from 70 yrs life perspective I say that home ownership is best. Stock market is absolutely a nasty gamble.
@jazzyg530
10 ай бұрын
@@followthefocusofficialas a renter I'm paying so much and will have nothing to show for it when I move out. I have been paying someone else's mortgage for 20 years. It would be nice if it was my own.
@Twofrogs2
10 ай бұрын
Thank you for this! I'm 60, college-educated, and the "failure" of my family financially. All three of my siblings have money, land, retirement savings, etc. I raised three kids as a divorced mom and am still paying on a student loan for one of my adult children, who is now working on her master's. I've worked hard my whole life since age 14, but have never earned over $46k a year. I've never been competitive or worried about material possessions. I drive a 2008 car with over 250,000 miles on it, rent an apartment, and will need to continue working well past my full retirement age to survive. Yet, I am generally happy with my "low" expectations. In my opinion, if you have the love of your family and a good dog, you're set.
@GringlesFacil
10 ай бұрын
Being a great mother is an incredible success
@SusannMarieDye
10 ай бұрын
You sound like me. Since you can still claim happiness it all is nothing to be ashamed of. Additionally, You raised three kids, hopefully they will realize the sacrifices you have made and take care of you in your old age of turn out to need their help.
@orangetara4268
10 ай бұрын
Especially a good dog! Priceless!
@s.m.5483
10 ай бұрын
@J.H. I'll add a couple of car suggestions. Up to and including 2011 which was the last year they made them: Mercury Grand Marquis/Ford Crown Victoria/Lincoln Town cars. The 4.6 liter engine has a couple of common problems but they are easy to work on and parts are readily available and inexpensive. The same goes for the 1990's Volvo's which were the last years they were owned by Volvo in Sweden. They also have some common problems but they will run almost forever with proper care and maintenance. The cars I've listed are also very safe vehicles. My father is a huge car person and he said to me, "Gas is the cheapest thing you put in a car. A dependable used car that needs few repairs, is easy and inexpensive to fix, has lower taxes, and you have no loan on is priceless. Win, win, win." I've never had a car loan in my life, and I'm 60. Car loans are suck a racket, making loaner rich, not the borrower. Hope this helps. P.S. there are some very good older Toyota's as well. I also spoke to a mechanic who has been working on only hybrid cars for many years and he said the old Chevy volts are very good as well as the Honda Insight though it's not a hybrid. Check out Scotty Kilmer on Ytube. ✌️
@ulyanabeley9565
10 ай бұрын
@@js77znot the author, but I drive Acura RDX almost 200k and never a problem! Except seats are ripped and have covers by now. Highly recommend
@stephysands
6 ай бұрын
I have stage 4 cancer and I never thought I would be back at work. I am so grateful to wake up every morning, it truly puts a different perspective on life.
@irielion3748
4 ай бұрын
You are still working? Wow.
@ilehn5875
2 ай бұрын
Praying that you get healed and prosper in life, in Jesus name❤
@valeriehylton2119
Ай бұрын
Blessings to you @stephysands❤
@danielninovillavicencio4379
Ай бұрын
praying for you, for healing in Jesus name 🙏
@JamesBS
23 күн бұрын
❤
@TwinkieSmooth
4 ай бұрын
I have a family of 5. We bought a 4 bedroom house 5 years ago. Bought for $180,000, currently appraised at $330,000 with a mortgage payment of $1427. I've searched rental houses and apartments in our surrounding area and cannot even find a 3 bedroom house for under $2000/mo. An equal sized 4 bedroom house is renting for a minimum of $3000/mo. So glad we decided to buy when we did.
@djcolinbell
4 ай бұрын
The advice for purchasing a house in the podcast is wrong. Buying a house might not make you alot of money or any money but renting only loses you money.
@andresgarciacastro1783
3 ай бұрын
Rent or morgage is THE biggest item in your budget, having control over it is worth soo much. In an ideal world maybe you can make more money investing, but it takes out of the equation the security factor.
@salahalkhalifa3705
3 ай бұрын
The guest is speaking about the happiness of being free. The corner stone of freedom is to have ur own roof over ur head and free of eviction and homeless threats.
@Jazz-fg2dm
3 ай бұрын
>>Bought for $180,000, currently appraised at $330,000 1) That's an hypothetical amount of money that you would get if you were to sell that house today. But considering that you're likely not to sell your house, you will die one day and never cash out that hypothetical $330,000. So your gain is only hypothetical and imaginable. Meanwhile, you're still living in that same $180,000 house that is even older today than it was when you first bought it. 2) The gain that you make from your house appreciation is the amount of money that you're stealing from your children's future. Your children will have to work harder in the future to buy a similar house that you bought for only $180,000.
@user-qo3co6kf5f
2 ай бұрын
@@Jazz-fg2dm kids move out, downsize house for cash flow. So her gain is worth it and not wasted
@MickyGlover
Ай бұрын
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession--[] it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.///
@Kaustavpatell
Ай бұрын
Un**derstanding p.ersonal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how t0 save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.,,,,
@kurtKking
Ай бұрын
...Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession influenced market, but to the best of my knowledge, it was through a financial advisor.=+
@Adambarking
Ай бұрын
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
@Donald-George
Ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
@Adambarking
Ай бұрын
@@Donald-George There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’SUNITA SUZANNE BYG..’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up....>
@TammyMayCormier
10 ай бұрын
I grew up poor and remained poor until around age 30. I put myself through school and now have a career that, relative to the average in my area, is pretty well paying. Ive always lived beneath my means, I drive a 10 year old nissan (I purchased it new) that I take good care of, rent in a modest but well kept building, paid off all my student debts, have an emergency savings account that covers several months of expenses. I recently decided to take a part time position at work, 2 days one week, 3 days the next. I will be making half of what I do now, but will have time freedom. Due to the frugal way I live I am not endebted to anyone and can do what I want. Money merely represents energy, and I will have so much energy to spend being free and happy, I feel I am about to be very, very "rich".
@johannacollins1130
10 ай бұрын
Love this for you!
@ericwilliams626
10 ай бұрын
There is a psychology to money. Not the paper itself, but how you think about saving and spending, as well as earning. If you think you're a lion, then you're a lion and that is all you will be. Until you expand your thinking, desire it, you will never escape your description. If you're happy with that it's fine, but your statement is limited in life's scope. But you need to change how you think before you even try. Being poor or frugal is a state of mind.
@TammyMayCormier
10 ай бұрын
@ericwilliams626 sure, my statement is about my own idea of happiness and fulfillment. I wasn't saying you, or anyone else,should want to live like I do. Everyone determines their own idea of success. This is success and happiness for me.
@ericwilliams626
10 ай бұрын
@@TammyMayCormier Understood but I wasn't refuting that. I was commenting on how we limit ourselves and our happiness based on how we think about our means. If you think you're rich, you're rich, if you think you're poor you're poor. You must find out what that means to discover more out of life. That's all.
@TammyMayCormier
10 ай бұрын
@@ericwilliams626 right
@whydoyoucare27
10 ай бұрын
I bought a house in Southern Alberta in 2020. 3bed, 2 bath 1,200 sq.ft in very good condition, move in ready with new floors and fresh paint as well as new bath and showers. I got in with a 5 year fixed interest rate of 1.89%. My mortgage plus property tax is $479 CAD ($350 USD). I would never be able to rent for that cheap!
@rosiecesareo8092
10 ай бұрын
Very good point! Renting is not always cheaper, plus it's nice to have that feeling of security that comes with owning your own place.
@vitalucas9452
10 ай бұрын
@@rosiecesareo8092Rental prices are outpacing incomes. And haven't you heard? There is a shortage to rent.
@copperheadroad567
10 ай бұрын
How many years is your mortgage?
@rollierollout
10 ай бұрын
$30,000 mortgage for a 3 bedroom house? Sheesh! Must of been one helluva down payment.
@whydoyoucare27
10 ай бұрын
@@rollierollout I bought it for 94K and put 6k down at 1.89% interest. So on 88K
@Powerz00
2 ай бұрын
I just saved up $100,000 this last quarter, and i plan to invest in the stock market to see it grow in the next 3 years. What is the best way to navigate the stock market as a newbie?
@WestonScally7614
2 ай бұрын
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
@FelineAirstrip
2 ай бұрын
Consider allocating 30-40% to a High-Yield Savings Account (HYSA) and entrusting the rest to a financial advisor for investment. My advisor has significantly impacted my financial journey, fostering clarity and confidence in the stock market. Thanks to her guidance, I've grown my portfolio from $100k to $1.4m in just 5 years.
@FelineAirstrip
2 ай бұрын
’Jennifer Leigh Hickman’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@laurencemoletsane2080
2 ай бұрын
You don't! Consider putting it into an annuity or fixed deposit
@CIA.2024-u9b
2 ай бұрын
Highly diversified ETF in the currency of where you live
@xelefonte
6 ай бұрын
(21:50) *is the most important part of this video. “Managing your own expectations is more in your control than managing your circumstances.” Very true and well-said. We focus so much on trying to manage the amount of money we make or where we are in life at x age but don’t try to manage realistic expectations based on our circumstances.*
@user-zb1yy2xm9v
2 ай бұрын
🎯 there is one form of insurance that is essential......loss of income
@ibrahimmohamedbashe7299
10 ай бұрын
After close to two hours of listening it all comes down to; 1) consistent discipline 2) Go against the societal constructs regarding what it means to be successful. Kudos for the podcast 🙏🙏
@mattlu5493
10 ай бұрын
I agree you make up what success is to you
@kellycalvert3941
10 ай бұрын
Thank you. Who has 2 hours free to listen to all of the fantastic Podcasts, KZitems, and audio books??? I appreciate the synopsis!! 🎉🏆😊
@deficator750
10 ай бұрын
that does'nt mean anything. its just a bunch of words.
@ibrahimmohamedbashe7299
10 ай бұрын
@@deficator750 define “meaning “ if its not anything also.
@Drummer1000George
10 ай бұрын
You forgot patience, the one piece of advice people reading your comment will detest.
@SanjaWilliams
9 ай бұрын
I finished it in full over 2 days. My key takeaways are: 1- establish what makes you happy (not others) and stick to it and live, 2- live within your means with capacity to save . "Managing your own expectations is more in your control than managing your own circumstances" is the line I have written down.
@cgc1581
8 ай бұрын
Thanks!
@joehu2015
10 күн бұрын
very true!! Thank you
@markgisborne8482
3 ай бұрын
My parents bought a house, but we saved every penny. We didn't spend. When i asked about it. My father said. "We need to pay off the mortgage, otherwise the interest on debt will kill us" Best advice i ever got. My friends are focused on how much they make. I focus on how much i spend.
@littlebitmckee8234
10 ай бұрын
I will validate how stress negatively impacts your health and life. I am a recently retired nursing professor and ICU and ER nurse. I wrote a book called “peace management.” I have seen firsthand how stress negatively impacts people, and I understand it at the cellular level. Financial burdens can definitely produce a large load stress.
@ryancovel
10 ай бұрын
This is interesting! Would love to see this study done in the corporate world. So many people incredibly stressed not realizing what it does to their health
@lindsaymorley9290
10 ай бұрын
Thanks for sharing this interesting perspective. I’d love to check out your book.
@Missjiji33
10 ай бұрын
indeed I believe stress is a killer . I've found my peace in contentment.
@chrristiinaaa
10 ай бұрын
Woooww he’s my favorite guest so far! Is it just me or does anyone else think he embodies humility? In the way he patiently listens, responds quickly and thoughtfully, quotes numerous other people, uses others’ lives as examples.. I love how he mentions his wife and kids so much. God bless this man!
@victormendoza3295
10 ай бұрын
I'm just starting to listen and there is deff something special about it. I have his book but need to read it.
@gracegwozdz8185
10 ай бұрын
@@victormendoza3295, definitely read the book to form your own opinion. Listenning to it while driving is a good option.
@lisalancework7999
10 ай бұрын
My thoughts exactly
@craigj7747
10 ай бұрын
@chrristiinaa I think all the attributes you just described are those of an outstanding communicator. Most people can achieve adequate communication. I have noticed that it's the people who can listen, digest the information and respond in a way that leaves no doubt that have received the message correctly. The cherry on top is then responding in a way that will allow the topic to remain open and free from agenda.
@personal_finance_au
9 ай бұрын
Yeah, he'd be easy to be around, seems very humble
@kenwilliams3279
5 ай бұрын
"I don't want to be rich, I just want to be independent." I soooo relate to that. What I envisage for paying off my mortgage is FREEDOM. Having more time, the flexibility to work less, the flexibility to live more according to what I want to do, rather than what I need to do.
@yahyahanskl
9 ай бұрын
You should do a new video about Pbatesltd ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
@jessicarossman2966
6 ай бұрын
As someone who work in wealth mgmt for 15 years it was consistent that by the 3rd generation inherited wealth would get spent. The 1st earned it, the 2nd watched them earn it and thus would continue to work in some way but provided their kids an easy life, and the 3rd would blow it. Saw sooo many families live that.
@CIA.2024-u9b
2 ай бұрын
Has someone avoided that cycle and how?
@tss337
2 ай бұрын
Thats a win in my book. One lifetime that took care of 3 generations. Of course I wish it could go on forever but that is an achievement imo
@LeFlamel
2 ай бұрын
@@CIA.2024-u9bI believe the Rockefellers have
@KANJICODER
2 ай бұрын
That and splitting your fortune 8 ways makes it a little less probable you can live off the interest alone . Assuming each generation has 2 kids . Which seems neutral as it neither leads to population increase or decrease .
@redprince1000
9 ай бұрын
Buying my own home was the single best investment decision i ever made.I waited a long time and even rented for 2.5 years as asset prices cooled off - it was all worth it.Peace of mind is priceless.
@helpanimals-
9 ай бұрын
but aren't you still paying mortgage?
@redprince1000
9 ай бұрын
@@helpanimals- no i paid for some years but had an investment which i sold and then paid my mortgage off in full.
@wongthong7
9 ай бұрын
I would buy assets first before I liabilities
@redprince1000
9 ай бұрын
@@wongthong7 i had been investing in stocks for many years before buying my house.By the time i bought it i was able to cover most of the cost with a large cash payment.
@priscillaDLCZ
9 ай бұрын
Nice decision I'm planning also to buy can you give me advice?
@ellacaulfield9939
9 ай бұрын
Key takeaways 🔑 1. Buy the book ‘The Psychology of Money’ 2. He writes/creates what he is interested in 3:47 3. Definition of rich - you have enough money to buy what you want (ie. house, raise kids, holidays) 6:28 4. 6:42 Morgan’s millionaire definition - you have $1 million in the bank that you don’t spend. Being a millionaire is about independence and control over time, not spending $$$ 5. How to love your work ❤ - autonomy and control, 11:30 6. Most valuable skill - not needing other people’s attention 24:32 7. 25:20 ‘ the definition of success is for when the people you want to. Love you. Love you.’ Warren buffet. Do the people who I care about love me? 8. 25:48 marriage only works if both partners want to serve the other spouse without expecting anything in return 9. 26:24 Being needy/having high expectations can break love (you should be able to validate yourself) 10. 28:16 in order to have respect and admiration from others -> love, humour, wisdom, friendship (if you can’t get it from these things, you will desire to show off) HIGHLIGHT - 33:22 - SAVE MONEY - have enough money saved up so you can choose a) where you live, b) what kind of job you have, c) the ability to retire if/when needed if a stress or health condition arises 34:17 - Warren buffet (the money mind) - either you get it or you don’t get it. Morgan thinks it’s more nature than nurture 11. 46:14 he’s invested in Cash, his house and index funds. He recommends having more cash than you feel like you need cause you can’t predict the future
@readingsbycara
8 ай бұрын
Such a good recap. ❣️
@snan9118
8 ай бұрын
Thank you.
@CassaH
8 ай бұрын
Thank you so much!
@markomestrovic7560
8 ай бұрын
"Buy the book" he basically described how he made money, so we need to write books
@hansgullickson4080
7 ай бұрын
Solving a problem and helping others, is how he makes money, so ‘we need to’: solve an important problem, and help others.
@rupanayak2625
2 ай бұрын
This is the best podcast not only on finance but life too. The author is very down to earth and honest.
@RionPhotography
9 ай бұрын
We could have afforded a much bigger house but instead purchased my grandmothers house at a big discount and it’s on five acres in a growing area. I have no doubt it will prove to be a very smart investment. Also living and feeling like you can just buy the things that you want without ever worrying about money is such a great feeling. There’s no need to buy mansions or Ferraris to feel wealthy.
@carolannstevens5814
7 ай бұрын
Right on!!!
@Blueskies1180
6 ай бұрын
Agree. I want money to buy a humble little house or cottage on a few acres of land to grown my own food. I don’t care for other material things, don’t need a fancy car, clothes, etc. But I do want to travel the world and see the wonders of this planet. That’s all.
@sugarsugar475
6 ай бұрын
Like reading my own story, minus the five acres! Bought 1200 sq ft ranch belonging to my grandparents at a big discount. It’s tight space and considered small for the upscale town we live in. After losing my job last year, I’m happy to live under our means. We can float the mortgage on one income, while starting my business. My parents taught us to never keep up with the Jones’s. The jonses are broke.
@DeltonValentine
10 ай бұрын
Some of the biggest takeaways.. 1. Confidence can create blind spots 2. Life is about identifying the costs of admission. 3. Bad news is quick, good news is slowly compounding. This was a powerful moment of sharing ideas gentlemen. Thank you!
@iso230
9 ай бұрын
Since the start of 2022, we have been in a recession, but major media outlets and governments around the world refused to acknowledge it. We must exercise wisdom and intelligence. Since knowledge is power, I want the entire family to be strong! I recently bought some Pbatesltd . We appreciate you keeping us informed during these uncertain times.
@olgakim4848
8 ай бұрын
Don't know what major media outlets and governments you're talking about, but In the US: Current unemployment rate is 3.7% with employers still hiring, wages rising substantially, gas prices plunging, inflation at now only 2%, (GDP) increased at an annual rate of *5.2* percent in the third quarter of 2023, the stock market at record high, consumers spending on record levels, and the feds are talking about cutting interest rates twice next year. All thanks to the competent work of the Biden administration and its policies. Are you talking about the US economy being in recession, as well? What freaking reality are you living in?!
@Chemike21
9 ай бұрын
One thing I can agree on, is that it is a massive benefit to not have the desire ton constantly please or impress other people. I have NEVER had this my entire life, and I'm one of the most happy people I know. My philosophy has always been, do the right thing, and don't care what anybody thinks.
@deborahb.3736
4 ай бұрын
I loved the answer to the end question... where Morgan admits to slight anxiety and depression. I have dysthymia.. chronic sadness... but I believe it comes from being hyper aware of the sad state of this world. depression and anxiety just naturally comes with that. but.. I soldiered on anyway... knowing no one was going to put my life together except me.. and I still managed to obtain a net worth of close to a million when I retired.. making slightly more than minimum wage all my life. paying down debt and putting a set amount away every month is the key.. also loved his words on what truly makes us happy. and about expectations always exceeding reality. it's a struggle in this fallen world to stay real and practical and close to the earth. but it's the only way to succeed here.
@ApexCypher_
10 ай бұрын
Don’t buy a house so banks can own all the properties, then you can rent one from them at 5x the price of a mortgage. If you have no assets you have no power.
@muhammadalamin6862
10 ай бұрын
true
@TheAndrewSchmidt
10 ай бұрын
Thank you...this title is awful
@ibexy
10 ай бұрын
Absolutely! I cant make sense of this advice not to own a property. Afterall they do appreciate in value and that surely is better than keeping cash in the bank.
@Jasperinvests
10 ай бұрын
Buy or build other assets that pay you an income... Then you have power. Plus, when you buy, the bank makes 2-3x the property value in interest anyway so they don't care. Buying isn't beating the banks.
@ibexy
10 ай бұрын
@@Jasperinvests For most investors in property, the goal is not to beat the banks but to create an additional source of income (Buy to let) or to cash in on equity growth. Of course the banks will always make a profit either way.
@SusannMarieDye
10 ай бұрын
Ownership does empower people, I agree. It didn’t help me when I bought a house in a bad economy, but the idea of us all being beholden to our landlords scares me too. It is a tough decision one that is uniquely your own, don’t do it to feel like you have improved your status and expect people to love you for owning a home. They either envy you or criticize you it is a no win that way. Do it because it is right for you only.
@James_36
9 ай бұрын
in the UK it is not tough at all - buying is superior in every way to renting, I am happy and open to seeing any proper analysis that disproves my view, but I bet Ill be waiting a long long time
@deethompson3592
10 ай бұрын
Since I've packed in work I couldn't be happier - I worked to live - not lived to work - I'm going to share this podcast with my family . I have never compared myself to anyone else in life - So long as i had enough to pay my bills and cover my basic wants and needs I'm the richest person in the room - like Stephen Hawkins I nearly lost my life at the age of 14 - Ive been grateful to be alive everyday since 🙏 ❤
@ourhealingvoice
10 ай бұрын
same hear hear
@wendyhannan2454
10 ай бұрын
Great comment I love that, thank you.
@deethompson3592
10 ай бұрын
@@wendyhannan2454 Thank you 🙏I really appreciate you taking the time to leave little old me a positive comment ❤ I'm 61 yrs young now 🥂🍾
@deethompson3592
10 ай бұрын
@@ourhealingvoice Again Thank you 🙏I really appreciate you taking the time to leave me a positive comment ❤ I'm humbled by the many likes that I've received 🙏
@jonm4989
10 ай бұрын
I completely agree, I ran my own small business for 30 years getting increasingly stressed and anxious. I knew I had to get out for my own health, but didn’t fancy starting a new career so saved like mad over the final 8 years and have now retired in my 50s. I don’t know if I’ll ever want to get another job, but all the people who told me I’d probably get bored when I sold my business have been wrong. I feel so much happier and less anxious about life. I think the trick is to keep doing stuff and spend your time with people who make you feel happy. Good luck to you all on your respective journeys to financial freedom.
@JoeyLevenson
20 күн бұрын
This video is all confirmation bias to me, because for 50 years, my parents have taught me everything you said. I feel so grateful for the video and for my parents. I love you so much.
@laraoneal7284
10 ай бұрын
What blew me away is when he said the least u care about caring what ppl think of you the more free you are and see this as a huge plus in ur life. I never realized that was a huge plus in my life and I should be thankful for that. That put that fact on my gratitude list that has never been on my gratitude list. Ty Morgan for that.
@les9058
9 ай бұрын
I care about Not waste'n a dime on loans an bank rip offs! 💯
@faygreville8368
9 ай бұрын
No point having it in the bank making the bank wealthier he obviously comes from a country with no decent pension systems why the hell would you wait until your 60s to be happy
@faygreville8368
9 ай бұрын
John d Rockefeller was one of the meanest men in history he made his son wear his sisters clothes so he didnt have to pay for them
@GymPerformance
9 ай бұрын
« The most valuable financial skill is not needing to impress other people » - love this!
@Haeze
10 ай бұрын
I find it amazing how much of this interview, which is based on a book about a healthy money mindset, had absolutely NOTHING to do with money, yet gave so many insights into living better, and the healthy money mindset is a natural side-effect of it all.
@derekporter66
10 ай бұрын
Because money doesn't make you happy. It helps
@stephenie44
8 ай бұрын
A lot of financial advisors make me cringe from horrifically misplaced priorities, and you can really hear how much they still need to grow as people. But this actually sounds like a moral, useful book to read, and I really enjoyed this episode. Thanks for the work you do.
@sebfox2194
8 ай бұрын
It's a financial advisor's job to listen to your financial goals and priorities and advise you on courses of action based on these. If they're pushing their priorities onto you, then they're not really doing their job.
@paul8513
8 ай бұрын
Its a very good book. Audiobook is pretty good too
@edocsane3777
8 ай бұрын
It’s ace!!!
@RR-ur4kz
7 ай бұрын
@@sebfox2194* How and where do you begin to find a good & reputable fiinancial advisor??
@kubetail12
5 күн бұрын
@@sebfox2194Or someone is doesn’t know their goals or needs?
@jennyg6782
5 ай бұрын
1:00:09 My dad gave me and my sister our inheritance in our late 30s. It was pivotal, we both really needed some help (I'll spare you the details). My point is just to say, how awesome my Dad says it is, several years later, to look at how much better we are doing and knowing that he did that, and it makes him really happy and proud.
@murep
3 ай бұрын
Love to know what you did with it ? We got 500k when in laws died . Been in restate ever since . Game changer for us as we get huge dividends monthly . You had great parents to help you like this .
@vonb2792
Ай бұрын
You had moré maturity to Enjoy and understand the importance of money. To protect His gift with smarter décision
@brontec9769
21 күн бұрын
oh that is so sweet, you are all very fortunate
@wilsonjudson1650
10 ай бұрын
A lot of folks have been going on about a October rally and said stocks that would be experiencing significant growth these late year season, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
@yuikiyoshi1248
10 ай бұрын
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
@AimiHiroshi
10 ай бұрын
it took me 5 years to stop trying to predict what about to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go where the market is wanting to go and keep it simple with discipline.
@jamesmaduabuchi6100
10 ай бұрын
The one effective technique I'm confident nobody admits to using, is staying in touch with an Investment-Adviser. Based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $800k since 2022. Just bought my 3rd property for rental. Credit to *STEPHANIE KOPP MEEKS* my Investment-Adviser..
@wilsonjudson1650
10 ай бұрын
*STEPHANIE KOPP MEEKS* really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. Written her
@mandrews1245
9 ай бұрын
Why would you think a stranger over the internet could give you stock advice which would be better than any licensed financial experts, who study stocks 18 hours a day? If you listened to this guest's advice, you would have heard putting your money into Index Funds is a good long term investment. Or maybe you just want to gamble your money away by playing the stock market like a slot machine.
@meredithlavigne568
9 ай бұрын
I like to keep a small "in case the market crashes" fund to try and take advantage of the low prices. When the market goes south, I use that money spread out over the following months buying my targeted stocks on low days. on top of my usual DCA, They keep dropping and I keep buying. I'm still in on Renewable Energy, EV, Tech, Health.coins too gotta be greedy when others are fearful. At this point I'm grateful for my FA Pbatesltd . Already with a 7 figure portfolio but I have no doubt investing more.
@Yetified_Mayhem
7 ай бұрын
Billionaires always have 15-20% cash for crashes. I only invest when S&P pulls back 20%.then I DCA every 5% down. My last add is when 10 week moving average crosses back above 30. So I added a lot of Nasdaq in 22' as it was down over 30% when S&P was down 20%.Itss all about a rule based system and 0 emotions involved
@JenniferMyers
10 ай бұрын
Biggest takeaways for me were: “Risk is what’s left over when you think you’ve thought of everything (risk is what you don’t see).” And, “The amount of cash you have in your investment portfolio should feel like it’s ‘too much.’ If you only have enough cash for the risks that you can envision, you’re going to miss a surprise every time.”
@ScarzChosenspokesmen
10 ай бұрын
Tremendous quote
@user-ps1ft1hy4j
10 ай бұрын
The latter is what poor people have to live with every day, and it makes for a very tenuous, stressful life, always on the brink of something crushing.
@calista1280
10 ай бұрын
@@user-ps1ft1hy4j Don't most of us live "paycheck to paycheck"?! Everytime we think we can breathe, something major happens! A major appliance breaks or illness etc
@lindalynch5196
9 ай бұрын
I have not enjoyed any conversation among two people, as much as this one in my life. Thank you for it all !
@shellylofgren
9 ай бұрын
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
@DavidRiggs-dc7jk
9 ай бұрын
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets
@jeffery_Automotive
9 ай бұрын
Personally, I can connect to that. When I began working with "Julie Anne Hoover," a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@jeffery_Automotive
9 ай бұрын
Julie Anne Hoover, a well-known person in her field, is my advisor. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
@pastorsurya
8 ай бұрын
Yah, some of my friends are realtors and they keep arguing that home prices will never come down and it is the best time to buy! I think their advice is not trustworthy because they have a monetary interest behind their so called best advice. I am waiting for a crash so I can buy my first house!
@brcyca
8 ай бұрын
There's an old expression: "never ask the barber if you need a haircut."
@cap4life1
3 ай бұрын
Morgan is 100% correct about buying vs renting. Buying only makes sense if you’re doing it for reasons other than building equity. Build equity by investing in stock and other financial instruments, not by taking out a mortgage and being house poor due to unexpected repairs and property tax.
@TonyHavenMusic
10 ай бұрын
It might not be your best move at this current point in time or life or location, but I bought a fixer upper in the French countryside and it’s paid me back ten fold in quality of life, the money I paid for the house I’ve already saved in rent twice over in 5 years, and there’s a feeling of comfort and peace that comes from being in somewhere that no one can just kick you out of
@timmorakinyo9529
10 ай бұрын
I have been with my partner for 18yrs with two teenegers and we just serve each, express love, compassion and no conformation, expectation and freedom to be oneself , so grateful for the awareness and see my teenages kid grew up calm and peaceful because of harmony at home.
@semayytt
9 ай бұрын
I feel that the last bull run was bolstered by all the money being printed. Major returns next bull run but I think they will be tamer in my humble opinion. A 10x on PbatesLTD and a 15x on polygon are fair considering how much those two coins are interwov
@amyannweideman-narrator
Ай бұрын
Let me start by saying THANK YOU Steven for all the WONDERFUL podcasts! YOU are a TRUE INSPIRATION, as are so many of your guests & conversations. Having said that, I found this particular episode to be EXTREMELY FRUSTRATING and unhelpful to the "average Joe". You asked (as you always do) some great questions, the most important of which (at least for me and others like me, which I would bet makes up a good portion of your viewers?) was when you asked what "normal" people (those living on 1,000 - 2,000 per month) can do to go to a position of "wealth". Morgan basically just blew it off with "save", which didn't really answer the question - how someone who is BARELY making it can get to a position of "financial freedom". I feel this particular episode is more for people who are already financially comfortable. Reading "between the lines", it felt like Morgan was just saying, "lower your expectations, want less & save more" (if you're already financially well off) and "just be happy to be alive" (if you're struggling or poor). It would be REALLY COOL if you could do an episode with a financial adviser who could speak to the great majority of people out there (like myself) who are struggling to just have the BASICS covered, with out of control INFLATION and a real HOUSING CRISIS and HEALTH CARE CRISIS. I'm a college educated, single mom, raising a young boy on my own and it's HARD to stay afloat! I work multiple jobs, live frugally, but STILL can BARELY support myself and my son and the future is not looking good in general terms when you think about all of the serious global issues facing our planet, which are all interconnected... sigh... I know I've just put a lot on the table, but I'm sure that I speak for thousands, if not millions/billions of other people out there who would REALLY, REALLY appreciate someone who could speak to them in "their language", in terms of how one might invest one's money/time to create greater financial STABILITY. If there is an espisode that I missed that adresses this issue, I apologize. Thanks again. Peace 🙏❤
@kimthuy4437
20 күн бұрын
They also mentioned investing in index funds, maybe try that?
@marcoprolo1488
7 ай бұрын
At 50 I aimed to be a millionaire at 60. I reached the target at 58 and early retired at 59. Right now I am doing nothing but slow travelling the world during winters and I made sure I finally learnt surfing before it was too late. My 2 kids both started university and their bachelor years are fully funded. They will have to manage their master by themselves. As for me, I will probably start a company at some point. Something light I can run from anywhere in the world. I am waiting for the kick. It will come eventually. It always does.
@SurinderSingh-nv6xv
7 ай бұрын
Can u let me know what sort of work you did that you became millionaire in only 8 year .bcs i did hard work whole life Apr for 30 years even cannot get good life as I wished in my childhood.
@marcoprolo1488
7 ай бұрын
@@SurinderSingh-nv6xv Real Estate. flipping houses and rentals. My wages as an IT employee just allowed to pay for my living expenses with 2 kids.
@user-le8kp1gt1y
7 ай бұрын
I'd like to add, what a great father you are. I hope your kids know how blessed they are!😊
@rebelglamhair
7 ай бұрын
Was it hard for u to get into real estate?
@marcoprolo1488
7 ай бұрын
@@rebelglamhair Yes. I bought my first home at 37. It's always been hard. I had to change country too because where I was in the UK the prices were already crazy at that time. But you can't play in 2024 like in 2000. Nowadays you have to take advantage of teleworking and all these things that were not possible by then.
@sunnypike9619
9 ай бұрын
Morgan's story about the two friends that died, -because he chose not to break the rules that particular day, made me think. Steven, I don't know if you ever watched a Netflix show, called "6 Feet Under", but the show is about a family that owns a funeral home. Each episode begins with some random situation that leads to someone's death. There are so many ways they delicately depict a person, usually going about life in a normal way, and somehow, unexpectedly in most cases, just died. This brings to mind, the point that Morgan is bringing up. We really are hanging by a thread. No one has a guarantee or knowledge of how long we have. So, in this perspective, living each day as if it is your last, and not constantly chasing the dollar, can change your complete perspective on wealth and what it means to be happy. ... So, yes...not only schedule a 30 minute window to have lunch. Try to think along the lines of the people in Italy...who take time to walk together with no phones, who enjoy the scenery, and the flowers, the smell of fresh bread.. and laughing.. talking...singing...dancing..
@terrilove3300
9 ай бұрын
Thank you so much for sharing...going to watch the show for sure
@wessel21
9 ай бұрын
I listened with horror that he just got back into his truck and drove away. Short time before he realised himself that the universe moved him without giving him the chance to gain control... How must a culture/society be structured to not care. My jaw hit the desk.
@veronicagreenaway6842
9 ай бұрын
Yes no wonder he suffers from depression, he left his mates no regrets for not searching sooner. Not my type of person. Plus no advice on stocks etc.
@silkroad1201
9 ай бұрын
@@wessel21that sounded like an excerpt from a book. You must be a writer
@rockymntain
9 ай бұрын
@@wessel21 It is inexcusable no doubt the actions he took that day. He was an unthinking, ignorant 17 year old at the time of the incident, totally wrapped up in his selfish pursuits. One has to ponder his upbringing; at least to ask where were his parents in instilling some sense of responsibility. Perhaps he was taught like so many youth, but blew off anything that was not really important to me today or "not relevant to me right now" type of thinking. Still, the fact that he was the only one who knew what his friends were doing and the risk they had taken on, even given the fact that they all had a brush with imminent peril, and he chose to ignore their not arriving at the bottom of the mountain, is breathtaking. Would not a friend at least say, "They are not here. I should try to see if they are OK, or I need to report this now." We can only imagine the parents thoughts as to the actions taken that day that could've helped locate their children, even if they had already perished beneath the snow. Apparently there is some shame or guilt that he carries, otherwise he would not be relating the story. We do not get a sense of whether he has come to full grip of the meaning of this tragedy and the actions he took that day. If anything, this is a story for all young people to hear, and decide, "What would I do if I were there?" and, "What are the consequences of my actions or inactions?"
@SergeLabelle
10 ай бұрын
We are not here for 200 years. I always invested in myself. Being in the moment since I know I can die any day. Coming from a poor family didn't stop me from being part of the Olympic team, working for Cirque du Soleil, traveling in 60 countries, winning awards, and so on. Failed many times and learned from them (thanks to sports). At 61, I am super fit, have a great relationship and a small agency where I meet exceptional people, have great projects in sports & entertainment, and keep traveling. I don't have a house, a car, or an investment in the stock markets and most of all, never been married (the best decision of my life). I've never compared myself or shown off and most of all, kept my expectations very low. I am free and couldn't be more happy, and fulfilled.
@Yoofi26
10 ай бұрын
I like your lifestyle!
@user-mk9en9bp3i
10 ай бұрын
What a wonderful life!!! Inspiring!!!
@franknada8235
9 ай бұрын
Winner mindset.
@murep
3 ай бұрын
Wow what a winner you are. TY
@user-zb1yy2xm9v
2 ай бұрын
😂 never been a show off
@ytang5615
5 күн бұрын
I like the interviewer, he was v low key ,let the guest talk without interruptions, asked right questions so I was able to watch this interview to the end. thank you.
@seanmastro6782
8 ай бұрын
Being a seasoned skier and snowboarder myself, since the age of 8 or so, i'm now 56, it blows me away that you knew your friends were skiing out of bounds, with a previous small avalanche experienced prior....and no one considered trouble earlier when not a word was heard from your friends??? Back Country and Out of Bounds code is you are always in contact of where people are at.
@rubysrithavanathan3212
7 ай бұрын
Exactly! how can one not be concerned?
@2sides_2everystory
6 ай бұрын
I thought the same thing. He'd already experienced a small avalanche there....why wouldn't he immediately be concerned when they didn't come down?!
@OfferoC
6 ай бұрын
Same. Was looking for this comment…
@Blueskies1180
6 ай бұрын
I know… first instinct would be to wonder why they weren’t there…no matter your age… I’m sure he regrets the decision of not calling authorities sooner. Such a sad story. 2 lives lost over a stupid decision.
@foggycraw6758
6 ай бұрын
He's a psychopath
@draselee6131
10 ай бұрын
The part of the equation financial folks miss when it comes to not purchasing a home is the priceless joy that being a home owner brings many of us. I have creative freedom to landscape, decorate and more. Those are the things that make my heart happy and it’s something renters can’t experience. That joy isn’t a simple math problem. Great interview, thank you both.
@joecoolioness6399
10 ай бұрын
Look, you need a place to live, and especially if you have kids, a stable place. Nobody can take my home from me if I continue to pay my bills. If I rent, I can be forced to leave once my contract is up. So, owning a modest home you can easily afford is the way to go. My kids know they have a safe place to come to at the end of the day and have a nice warm bed to sleep in each night. That is why I work. Not to mention, I now have equity so if something were to happen I can borrow against it or sell and downsize and have some money to help me.
@w1zent91
10 ай бұрын
Exactly, I can say that buying a home was the best purchase I ever made. It made me realize that humans are meant to have their own space (Doesn't need to be big) but it inspires so much creativity in us. After buying a home, I now love cleaning, and taking on small projects, I feel like it came from a sense of ownership. I want everyone to be able to experience having their own space, "Priceless joy" is a perfect way of putting it. All the best bro, I completely agree with you!
@purpleorchid5157
10 ай бұрын
I have rented the same place for 33 years, over half my life. I love this place. I wish so desperately I could buy this building, to have control, to make it a better place for me and the other tenants to live in, to make it beautiful, as opposed to the horrible landlord I have who has no pride of ownership in possessing this place, and just does everything in the cheapest, shoddiest, and ugliest way. Luckily, I live in a city with good renter protections, but the rent goes up every year, and I have nothing to show for the thousands of dollars I paid in rent for decades.
@davidmathias1828
10 ай бұрын
There is a right time and a wrong time to buy a house ,depending on your circumstances. Renting a house does not always work out for you. If the rent gets way up and you then can’t afford it. Your children will suffer because you made the wrong decision.
@w1zent91
10 ай бұрын
@@davidmathias1828 exactly, I don't like the whole blanket "don't buy a house, buy stocks" I would rather sacrifice to give stability to my kids. That way they don't have to worry about rent increases and evictions. Peace of mind is an important factor. All the best bro!
@ah000
9 ай бұрын
Retired at 33 years old as soon as I realized money is a trap. Living life for real now and learned to live with what I have and stretch the crap out of what I have. Being creative is a more useful tool.
@markkimba74
9 ай бұрын
@@frosting_on_the_side the answer to that is.... It'd be easier to have a low pay job that has no stress than to stretch the crap out of what you have whilst being retired
@zweisteinya
9 ай бұрын
@@frosting_on_the_sidewhy write books on how to become wealthy, of course
@andrewrobinson2565
9 ай бұрын
@@frosting_on_the_side I think ah000 has pawned his phone 📱. 😮
@darrinrivers6293
5 ай бұрын
Forget the money aspect, This is divine knowledge wisdom and understanding. I need this.
@ClementRusso2
9 ай бұрын
Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.
@Jason9o669
9 ай бұрын
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $650K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
@Rodxmirixm
9 ай бұрын
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimize risks and maximize profits, generating around $3 million in three years with my advisor, Stacey Lee Decker.
@Rodxmirixm
9 ай бұрын
With the help of google you can book an appointment. Stacey Lee Decker has a wealth of experience in the financial market gained over several years.
@AlexanderDanielley
9 ай бұрын
After reading your insights, I researched her full name and found her online webpage. Thanks for your help.
@pauldwyer70
9 ай бұрын
Many people find homeownership to be the foundation of their family wealth. The key is to not buy more house than you need. You have to live somewhere and owning that place is generally a good thing and confers independence. He's right about not using your home to signal how rich you want to appear.
@IncubiAkster
8 ай бұрын
If you own your own home you are already rich intrinsically. (assuming no mortgage to still pay off obviously)
@guerlinenicolas8159
8 ай бұрын
Yes, he’s right. I don’t rent my house either. I live with my children alone and pay my mortgage. Best investment ever and I am a black single mother with 4 children. My neighbors are nosy and want to know how I get my house. I work and invest in Index funds. 😂😂😂😂❤
@CameronFussner
7 ай бұрын
I sold a couple of homes in the Tampa area for pretty good cash and I'm thinking to just leave it in stocks while waiting for a house crash to happen and as well avoid inflation, but is this really a good time to buy stocks? I hear it's a madhouse right now and I still hear folks are raking in huge 6figure profits by the weeks and I'd love to know how.
@ashleyclaire3029
7 ай бұрын
True, I was in dilemma myself due to this chaotic market, wasn't sure if to sell or just wait a little longer, 75% of my portfolio was tanking and in the red and the economy isn’t looking promising, but I began gaining clarity and have more confidence in my investment through an adviser, I know most DlY-lnvestor like me would say advisers aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amt in fees for me to be able to net $650K in less than 8months like I did this year, I truly don't mind.
@ashleyclaire3029
7 ай бұрын
I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
@stevenbrown835
6 ай бұрын
Bots lol
@quidproquo82
6 ай бұрын
The bots are working overtime lol...
@mrcead
6 ай бұрын
Bears make money, Bulls make money, Pigs get slaughtered. Educate yourself on at least how to read candlestick market indicators and never break the rules
@SmangalisoManzini
2 ай бұрын
DOING SOMETHING YOU LOVE ON A SCHEDULE YOU CAN'T CONTROL CAN FEEL THE SAME AS DOING SOMETHING YOU HATE😇best educational scar of the book ✌🤞
@iestyn54
10 ай бұрын
There’s no security in renting. I have a 7 year old and I need more control over who puts a roof over our head. Sorry, but this system doesn’t really work in the UK.
@stephengreaves7935
10 ай бұрын
Correct
@StephieGsrEvolution
10 ай бұрын
It doesn't really work here in US either.
@jdxx59
10 ай бұрын
It doesn’t work in Australia either. There are so many people all over our country struggling to find rentals and then paying the huge rental fees. And buying is also out of the reach of many. It’s an awful crisis for many.
@bcent5758
10 ай бұрын
Certainly doesn’t work in Ireland. The best security is to own a home here.
@ruemunhuwa5450
10 ай бұрын
honestly
@amazingandrea9983
10 ай бұрын
Thank you, Steven! Your podcasts get me through an hour of stretching every morning that David Goggins turned me on to and are a game changer! Today's podcast resonated. I've been a flight attendant for 38 years and just yesterday, a 35-year-old man sat in Business class from Vancouver to Cancun on our Dreamliner. He was like a kid, bursting with glee. Last month, a woman (who took a break from her teenage twins) also flew in the pods back from Maui for the first time. It was a giggle for me to watch them enjoy the adventure. It contrasted mightily with a 20-year old rich kid who was a professional hockey player one season I flew an NHL charter on a beautiful plane, reconfigured from 169 seats, down to 70 (imagine the leg room!), complete with several tables which allow 4 people to enjoy a meal or play cards together. Gorgeous. Most passengers gasp if ever they are lucky enough to step onto that plane. The rich kid did the eye-roll, and slumped into his seat disgruntled, moaning, "This plane is so average." What a way to go through life... The lessons you've taught me today on $$ will seep into my life, as do the nuggets I receive from so many of your guests. A hug of thanks, from Canada, as I head out for my daily, Goggins-inspired, albeit still wimpy, run!
@siogyumolcs
5 ай бұрын
Thanks for this. I figured most of this out in my mid-20s when my life was sh!t. I went from being in debt to about a quarter mil $ now (I'm 40). I can already see my way past the $1-2M mark by the time I turn 50. VERY important to 'see time' for what it is. The greatest ally there is.
@isimsiz2490
9 ай бұрын
Omfg! Pbatesltd turned out to be a bloody smart move. I love love love this. I’m the wrong side of 40 so I’m taking this all on board IMMEDIATELY- thank you! Even if I run out of time my kids will benefit from this incredible education. Thankyou thankyou thankyou!!
@ramblingrahema2125
8 ай бұрын
This guest is SO down to earth, humble, compassionate, and understanding. Searching for book online now!
@darkmater4tm
9 ай бұрын
This guy speaks my language. My goals in life are not to make huge piles of money and make it into history books. I want to minimise drama, and experience as many places as I can.
@odnilniloc
9 ай бұрын
On paper Morgan is probably right. However, the psychological well being that comes from owning your own home is close to priceless.
@travisprice1325
9 ай бұрын
Shelter stability is 💯 worth more than the price you pay for a home. Your home is the foundation of your family life.
@maximilian333
9 ай бұрын
Just be smart about how much House you buy vs how much Mortgage you buy. Go smaller and own bigger. Build a smaller dwelling onsite in case you ever need to move into it and rent your bigger house out for income. Even smarter buy a small house on large land and build a larger rental on it and once you have paid everything off then move into the big house. That’s being smart
@cyberspacedweller637
9 ай бұрын
If you manage to actually pay it off without losing it first
@Mr3rasmo
9 ай бұрын
@@travisprice1325your not wrong but there should also be an emphasis on the price of the house you buy. If it’s out of your means you won’t have stability and without stability you won’t keep your physiological well being.
@pavelclaudiopatino419
9 ай бұрын
Until your mortgage, property tax, interest on the loan, insurance eats you up. The worst mistake people make is to buy a house on a loan and to live in. Think as an investor. First house people buy, should be an investment.
@hansgerber4278
Ай бұрын
Mr Housel , you are speaking from my HEART !!!! You got it 100% !!!!!!!!!!!!! Brilliantly true !!
@user-bz7hw4gx5n
10 ай бұрын
The financial aspect of this applies to any year before 2021. You CANT live below your means with insane inflation and rent prices. Most people are struggling just to stay afloat
@nieczerwony
10 ай бұрын
Well what you could expect if governments closed global economy for 3 years and printed shit load of money. All the money from the support plans literally went to already rich people and will only get worst from here.
@L0kie94
9 ай бұрын
Honestly this episode was fantastic. Talked about subjects that I think of everyday. Puts everything into perspective and made me realize that when I have panic attacks, anxiety or depression it's because I lack control over things. I need to learn to let go of things and let my decisions guide me down the right path overtime.
@jimdavis8391
9 ай бұрын
You are contradicting yourself!
@valerie.
9 ай бұрын
how@@jimdavis8391
@andrewrobinson2565
9 ай бұрын
You're not contradicting yourself. That's a good take. ✅
@StevieMc1971
9 ай бұрын
Let God rule your decisions 🙏🏻 ask yourself what would God do in any situation you come across and PAUSE WHEN AGITATED 🙏🏻
@alabisamuel5228
2 ай бұрын
A Nigerian, in my early twenties, an entrepreneur and a business owner,... I would say, this is so much sauce. Probably because it's exactly what I genuinely need to hear right now, but this video is what just gave me all the answers to so many questions I kept asking myself. I'm very sure so many other young lads like me watched this video and got really impacted. Thanks for making this podcast, it's a blessing to my life💯❤️
@SharonD.Spiker
9 ай бұрын
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly..
@GiustinaDewitt
9 ай бұрын
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
@AshleyBroughton-og2zp
9 ай бұрын
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
@SharonD.Spiker
9 ай бұрын
Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *Jenny Pamogas Canaya,* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.|
@AshleyBroughton-og2zp
9 ай бұрын
I've come across several positive endorsements of Jenny Pamogas Canaya on various platforms, including KZitem channels, seminars, and more.
@murep
3 ай бұрын
You write nicely lady
@bolztyle
10 ай бұрын
One of the most down to earth people you have had on this show. he does not try leading us down a certain route but is just trying to make is smarter in whatever we are doing
@running4fun863
10 ай бұрын
Yes, super nice.
@jamesmelvin1581
10 ай бұрын
Morgan Housel has his own fantastic podcast if you liked the show. He is one of my favorite authors/ podcasters
@MiaDavis001
6 ай бұрын
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
@KevinEvans-mq4ob
6 ай бұрын
I feel your pain, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.
@NoahAnderson3000
6 ай бұрын
In fact, despite having no experience or prior knowledge when I began investing in 2018, by the end of 2019 I had made a profit of over $750k. I had merely been adhering to the advice that my financial counselor had given me. This demonstrates that all you really need is an expert to assist you; you don't even need to be a great investor or put in a lot of work.
@NoahAnderson3000
6 ай бұрын
NYCOLE CHRISTINA VANNATA is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@Curious_Skeptic
3 ай бұрын
Should have kept property. Lol.
@tomare6479
3 ай бұрын
Dividends and move out of bad states like they want you to
@soscreativity
5 ай бұрын
Morgan Housel's advice challenges conventional wisdom and encourages us to consider alternative paths to financial security and freedom. By focusing on saving and investing wisely rather than rushing into homeownership, individuals can potentially build greater wealth and flexibility for the future. This reminder to critically evaluate our financial decisions is invaluable. Kudos to Morgan Housel for sparking important conversations about money management!
@bettyruthdenson
10 ай бұрын
Great interview. I would say, one of the benefits of owning a home is not having to worry about your landlord increasing your rent every year. I purchased my house because my landlord wanted to increase my rent by 25%. Now I don’t have to worry about rent inflation and searching for another rental.
@tiaan_va
10 ай бұрын
...but the bank can still adjust interest rates on your repayment and property rates can also go up at any time, so you are still not truly at just your own mercy. Also most countries do have property laws that have a maximum percentage that rent can be increased when a tenant renews a lease.
@lambdaboss5528
10 ай бұрын
@@tiaan_va true, but at least when you finish paying off your mortgage, then that's not a concern anymore. But, with rentals, it's always a concern. Also, with a house, you can't be evicted because the landlord wants you gone.
@les9058
10 ай бұрын
LUCKY you, mine wanted 42% in like 3mons with a New 2yr lease that included another 10% inc for Both years ... While Nothing was better about the property I'd moved to 6+yrs earlier to whack high rent in a tons better house... it's Often a No win... 🥴 I owned 4homes paid em off and been the landlord.... That's Often a nightmare too... So I think after 30ty yrs at this supposed wealth game.... It's a lotta time'n you Can't control... You Really need something you Can afford regardless of the paycheck fluctuations, that doesn't own you for the pleasure or BS that comes with Much of it Always! 🤫 It's imp Not to fall in love with property.... It's an investment in everyway... Cause now it's your roof, carpets etc.... if you Need that great Job that's NEVER guaranteed to do it Don't.... Divorces, slit ups ditto.... Then you have to Sell your dream place or take in renters ... If you can Save More than you spend on things that really don't pay for themselves that's gonna hurt you longer term you'll Save Not only $$$ but precious time... It's a Life lesson we're ALL gonna deal with.... Learn it early Not get'n the 'give me gots' Bigger everything and you Make it work for you Not be'n a slave to your desires when things inevitably change on you.... That's the Only control that's ALL yours.... 😉
@les9058
10 ай бұрын
@@lambdaboss5528 Ever calculated How Much the bank takes in from your mortgage???? 🤫 The 1st 5yrs you pay down Next to NOTHING on that mortgage... It's front loaded for the Banks.... If you Stay 10yrs you Start make'n a little dent.... Why it takes Sooooo long to truly Own.... In that time you have All the Major upkeep costs too... But ... If you found a Solid property Not need'n rehab... That's 25-30% of your monthly income for a mortgage... VERY 🗝️ and you lock in a low % rate to KEEP payments payable another 🗝️...Then instead of a Bigger car etc.... you USE that buffer to actually Win the game by Save'n yourself the outrageous interest you'll pay regardless of the number Over life of any mortgage to actually Pay it Off in 1/2 or less the time you've Now really made $$$ Not paper inc that you Really NEVER get ... Follow... The buy'n & sell'n price are adjusted for True inc by what you PAID for it, those % payments take'n 20-30tys to do it.... The Bank Always Wins just like the landlord.... Gen 2-3 times the pricetag ... So Often that inc when you Sell is just get'n Only some of your paid IN 💰 every year in % to have supposed security.... You paid a ton even If the loan was locked 🔐... You Win when you pay 2-3 times + every month the PRINCIPAL Part of the mortgage... Check that part on your mortgage statement... It should be listed as 1,800. payment 3% of often 1/2 3qtrs if that 1,800 1st 5years... So the actual pay down on the principal is Less than 20-25% But.. that's the time to double triple the Principal payments.... Cause your mortgage IS calculated on the balance each month like a card - where the Bank rakes it in... Few people can't afford to do this the 1st 5yrs.... To cut that huge % to the Bank Waaay down!👇 KEEP do'n it and that 20-30 yr loan is PAID in 1/2 the time.... Make'n the Appreciation Value Real money 💰 you made cut'n out ALL those % payments.... You Beat the Bank pay'n as little as possible for that property!!! Therefore.... The Appreciated Value at anytime is Real 💰 in your pocket.... And you can afford to sell if you Need or want to More Often regardless of the RE market, have'n paid as little as possible to Own the property... Think what you could Do with Real Appreciation... Borrow against it to buy another property when the market is a buyer's... And that 2nd property becomes a write-off as either a rental or a short-term hold to then sell.... Or it can be a move up for you you Can now Afford.... Turn the 1st properly into the rental ... It builds your Security & finances like Nothing else!!!! When you get to 3 properties your gen zeroed out on taxes if the 2are rentals... Well worth the paperwork to KEEP ALL your paychecks work'n for you! You don't have to have a big income to do this.... You have to Be pragmatic and consistent!
@whywouldigivemyrealname5162
9 ай бұрын
The last place I lived before owning my house tried to do this and I just negotiated with them. If they try to increase rent by $200 per month to $3,000 then they need to get someone in as a replacement within a month to make it worth the increase. My property value increased thanks to Zillow and now I owe $2k more in property taxes every year. Fun fact, it’s harder to negotiate that.
@ritafbugge
10 ай бұрын
My parents paid off their house and they only basically have to pay for repairs and property taxes. They’re earning extra cash by renting out the garage that was converted as a loft years ago. They are thrilled to leave a nice inheritance to their kids and grandkids.
@edgemasterrlol
10 ай бұрын
woah
@vaultvon2126
10 ай бұрын
that's great but financially incline people has a lot more ways to expand wealth. exponentially
@andrewbatson9710
10 ай бұрын
@@vaultvon2126regardless you are paying for a roof over your head. Owning, you are making that payment essentially into your bank account (equity of the house). Renting you are effectively taking that money and lighting it on fire for warmth. Will owning a house that you live make you rich? No, but owning vs renting 9/10 is more financially advantageous in the long run if you do not intend to move around a lot.
@eze1738
10 ай бұрын
ouuu look at you.. what this comment got to do with this video? 🤔
@sarahpettengill6560
22 сағат бұрын
This guy is amazing. He had me in tears when he described the story of losing his friends in the ski avalanche. Everything he said after that, I was hanging on his every word. He’s a great communicator. Super honest and engaging. GREAT EPISODE!!
@gagnecaron658
9 ай бұрын
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
@martinbelanger9963
9 ай бұрын
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
@gagnecaron658
9 ай бұрын
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.
@martinbelanger9963
9 ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
@gagnecaron658
9 ай бұрын
There are a lot of independent advisors you might look into. But i work with Emily Lois Parker and we have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her
@martinbelanger9963
9 ай бұрын
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before emailing her. She seems proficient considering her résumé.. can I get a way to communicate with you as I have some questions
@RedMage117
9 ай бұрын
Unless you're living a fairly transient lifestyle or want to move often, buying a house is usually going to be advantageous. Rent gets you nothing, it just goes to the landlord. Mortgages build equity. You're not buying the house as an investment, but it is a good way to quietly build wealth without really trying. The way he is looking at it is as if you might lose money on the house you buy, but you will 100% lose all the money you pay for rent.
@withwilk7473
10 ай бұрын
The low expectations thing is how I live my life. I grew up with one set of grandparents who were working class, bought their council house, owned 1 old car and lived frugally, and the others who owned a business, had a holiday home and travelled the world. But overall I'd say the poorer ones lived a more content lifestyle. Less stress and lived 15+ years longer. I try to balance the best of both.
@les9058
10 ай бұрын
They had tons more freedom as a result...
@jasonvoorhies6431
9 ай бұрын
Content doing nothing with their lives? Yea that’s not going to work in the modern day. A life of mediocrity…
@itsaprilsfool
9 ай бұрын
It's amazing how observing your predecessors gave you an example of how to tread the path of life on your own journey.
@les9058
9 ай бұрын
Always about Balance in ALL things..... 💯
@mandrews1245
9 ай бұрын
@@les9058 -- Freedom to do what? They may not have had the money to travel. I had a neighbour who retired and he printed some business cards which said, "Actively Retired". Everyone would hire him to put up shelving, make regular house repairs, replace a faucet, etc. but nothing major. His wife then started canning fruit and veggies and sold them within the neighbourhood. It kept them busy and supplemented their pensions with some cash income.
@wooziiiii5001
2 ай бұрын
Now I understand why he said his the most worst case scenario thinker person. I got to the ski story and understood it cleary. He is full of wisdom and a very eloquent person. Definitely Ill read his book.
@JSMCPN
7 ай бұрын
Paid off my house in 12 years, saved a boatload of interest, and it made the rest of my life a giant piece of cake. I haven't had any significant monthly expenditures whatsoever for the last 7 years. Never been a big fan of "making payments" on things, especially ones I don't actually need.
@webformssuck
7 ай бұрын
Agreed. If you're renting, you're about 10 times worse of, financially speaking.
@plywood7894
7 ай бұрын
I’m glad it worked out for you but the question is does it make sense to do that now. Tiny houses that used to be 150k are now selling for 500k+. A lot of houses on the market needs repairs. Can younger people do what you did?
@user-rq3rm9in5z
7 ай бұрын
@@plywood7894He said he paid off the house in 12 years … that tells me he bought the house when the market was crashed …,!
@DeborahSon
9 ай бұрын
Hands down one of the best episodes on DOAC. Thank you to Morgan for sharing your insights with us and as always, thank you to Steven for being an amazing interviewer - I caught myself marveling at some of the questions you asked. Will definitely listen to this episode more than once!
@yuzaR-Data-Science
Ай бұрын
one of the most interesting guests! love Morgen Housel! Thanks for this episode!
@dmayres
10 ай бұрын
I probably gained more from this conversation than I have done any other on this channel. To the point that during the last hour or so, I've set up a direct debit for 10% of my salary into my equity fund account. That money would have gone towards a finance deal on a car, which just feels like such a waste of money. I'll figure something else out there. I've recently taken the plunge and bought a house after many years of renting, and no matter how daunting that felt, to suddenly have that security is absolutely worth it. I'll be keen to read his books for sure.
@darylwilson1915
10 ай бұрын
Paying off a house before I turned 40 has given me more power than I ever dreamed of 😊
@emmastacey750
10 ай бұрын
Well done! I have just gone mortgage free at 50 :)
@victormendoza3295
10 ай бұрын
I just paid my first house off but had bought a second house :(. I'm debating selling and going back to the first. The second has 40 acres though but is stressful to keep going.
@StellaJohnson2
10 ай бұрын
@@victormendoza3295 Just a thought: try and rent the second house. Use the money that you receive from the tenants to pay for the mortgage.
@nieczerwony
10 ай бұрын
Good for you. I never had mortgage and I have 2 houses and 3 flats. I remember my economy teacher always repeated: "Loans are for rich people".
@matrixisreal2023
10 ай бұрын
@@nieczerwonyloans are good or bad ?
@comelitekang8873
6 ай бұрын
Steven Bartlett, thank you for bringing on this guest, he was by far your best guest with such a wealth of knowledge to share and experiences so related to most of us. What a thought provoking conversation packed with prevalent different topics all tied together one way or another. I’ve just ordered his book “Psychology of money”. Thank you for asking the right questions with every human being in mind.🙏🏾🙏🏾🙏🏾
@lelatexeira1647
7 күн бұрын
Your show continues to blow my mind. Uncomfortable, raw and uplifting conversations. It’s leaps and bounds for the ones who self learn in this era. Beautiful. Thank you! ❤
@michaeldelucetrading
10 ай бұрын
"No one saw it coming!" Something about the line hit me like a train. Nothing is guaranteed, not even tomorrow. This makes me believe that happiness has to lie in the present moment if the future is not a sure thing. It also makes me think that if you are feeling down and out, there is equal likelihood of things changing for the better out of this unknown than there is of things staying the same or getting worse. I know it is easy to stay, but keep your chin up y'all - better things are coming your way, just don't expect too much :) 1 day at a time.
@ivearies4187
8 ай бұрын
Money gives you freedom and autonomy. Excellent quote! I am on an 11 month of a career break. That was only possible because of my financial decisions. It feels really great to have that freedom ❤
@artempokhilyuk
7 ай бұрын
The same for me. I quit my job of a surveyor in 2022 'cause I hate Putin (I am Russian) way of ruling Russia and left for Kazakhstan where I studied coding php and did nothing else for 11 months and found a job as a web developer. Still having a wife and a kid, wife does not work. All my savings of previous years paid off
@carolannstevens5814
7 ай бұрын
How much did you save please to have this freedom? What is your age?
@rachellee8131
6 ай бұрын
@ivearies4187, I'm on a long career break too and haven't set a deadline on it. It's very freeing as you say. Curious to know how you've spent your break?
@ivearies4187
6 ай бұрын
@@rachellee8131 I have traveled, spent time with mom, dad and sister in three different states and and another country and taken courses to stay competitive because returning to the workplace will be inevitable.
@andreamolina4456
6 ай бұрын
Same. I'm taking a mental break from my career of 11yrs and getting ready for a career change. Wouldn't be able to take a long vacation without my past financial decisions.
@DeJaVu337
9 ай бұрын
Worked for the City of New York in my late 40's after spending 10+ years in the private sector. Those at the City who got their jobs in their 20's were frustrated when after working 20 years they still could not retire or were prepared for work outside government. Bored after 20 years and under the age for retirement which meant they had to suffer to age 57 or 64 in a job they hate. 82% died less than 1.5 years after reaching the age for medicare and SSI; some having never been able to tap into even a penny of Pension dollars because they had accumulated 2+ years of sick leave. I retired at 64 with 18 years of service and got my pension and SSI. While working I was invested in real estate rather than the governments annuity program and winded up with $3 million in real estate values. At 74 My health is perfect after retiring in S. Florida. Still have my 1999 4 Runner and I live a simple life. In addition I invested in Precious Metals early which increased over 100% over the years.
@NoLimitsCommemorativ
3 ай бұрын
Find a balance between working, saving, and spending on things you need and want. Ill never forget offering my dad two tickets to one of those track days to race a couple laps in a exotic car and he told me to save my money. I just wanted to have a good day at the track with my pops, it wasn't about money to me it was the experience and time spent. He always worked and so do I (Im 36) but then my little brother died 2 years ago and now all he does is regret not worrying about the damn dollar constanly, and should have gone out for fun once in awhile. I broke the mold and spend what I want, when I want, within reason of course. Life is too short to stress all the time about penny pinching and you can't take it with you. folks
@padanfain7466
7 ай бұрын
Genuinely one of the most interesting people I have seen on the podcast. There was so much in there that you could relate to and reflect on. Respect to Morgan not only for telling a great story, but for making my own story in life feel more interesting. This talk answered a lot of questions I've been asking myself over the last 10 years. Excellent.
@rootshutsandtubs1802
7 ай бұрын
After listening to this I managed to convince our 17 year old son to start investing. He’s just finished school and started an apprenticeship and has set up a pension and an investment ISA that he is paying into each month. He actually thanked me last night for getting him to listen to this as he’d just checked his investments and seen that they had gained well (I’d didn’t think for a minute that he would listen or take action 😂). Thankyou Steven and Morgan.
@thegalhorowitz
5 ай бұрын
You are a great parent. Lucky kid.
@omotayosatuyi252
4 ай бұрын
Glad you started to talk to him about this is early if he goes through with it and invest it will be a millionaire by the time he takes the money out
@TomKloseMusic
10 ай бұрын
This interview did something that most other interviews meant to motivate and educate people don't: it made me feel really good about myself and my life decisions. Thank you for that, this came just at the right time, I didn't even know how much I needed that.
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