What does it actually mean to be wealthy? Bestselling author Morgan Housel joins Peter Mallouk to explore why building wealth has less to do with intelligence and more to do with behavior, independence and understanding what money is really for. Morgan shares the thinking behind “The Psychology of Money,” why every U.S. publisher initially rejected the book, and the stories that shaped his approach to money and investing. He explains why financial success is often driven by behavior rather than knowledge, why getting rich and staying rich require different skills, and why some of the best financial decisions can’t be measured on a spreadsheet.
What does it actually mean to be wealthy? Bestselling author Morgan Housel joins Peter Mallouk to explore why building wealth has less to do with intelligence and more to do with behavior, independence and understanding what money is really for.
Morgan shares the thinking behind “The Psychology of Money,” why every U.S. publisher initially rejected the book, and the stories that shaped his approach to money and investing. He explains why financial success is often driven by behavior rather than knowledge, why getting rich and staying rich require different skills, and why some of the best financial decisions can’t be measured on a spreadsheet.
Morgan addresses the difference between being rich and being wealthy, raising kids with healthy money habits, taking risks, dealing with success and defining "enough" in his refreshingly human perspective on building wealth and living a meaningful life.
What You'll Learn in This Episode
✅ Why financial behavior can matter more than intelligence when building long-term wealth
✅ The difference between being rich and being truly wealthy and why Morgan defines wealth through independence
✅ Why the mathematically "best" financial decision isn't always the best decision for your life
✅ How risk, expectations, happiness and knowing when you have "enough" can shape financial success
This episode is brought to you by Avantis Investors. Broad diversification and thoughtful implementation. Daily oversight and low fees. You don’t have to choose. Start saying “and.” Talk to your advisor about Avantis and visit avantisinvestors.com.
🔹Financial success is behavioral. Intelligence and financial knowledge matter, but how you behave with money can ultimately matter even more.
🔹 Wealth is about independence. Morgan distinguishes being rich from being wealthy by the freedom your financial resources give you over your time and decisions.
🔹 Not every return belongs in a spreadsheet. Peace of mind, stability, flexibility and sleeping well at night can have tremendous value even when they aren't mathematically optimal.
🔹 Lead by example with money. When teaching children about finances, Morgan believes everyday behavior can have more influence than lectures about what they should or shouldn't do.
Morgan Housel is the New York Times Bestselling author of The Psychology of Money, The Art of Spending Money, and Same As Ever. His books have sold over 12 million copies and have been translated into more than 60 languages.
He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award. MarketWatch named him one of the 50 most influential people in markets. He's a partner at The Collaborative Fund and serves on the board of directors at Markel.
Website: https://www.morganhousel.com/
YouTube: https://www.youtube.com/@Morgan-Housel
LinkedIn: linkedin.com/in/morgan-housel-5b473821
Sponsored By
This episode is brought to you by Avantis Investors. With strategies designed around broad diversification, thoughtful implementation, daily oversight and low fees, Avantis helps investors say “and” instead of “or.” Talk to your advisor about Avantis and visit avantisinvestors.com.
This episode includes an advertisement by the sponsor. The advertisement does not constitute or imply an endorsement, recommendation or affiliation between the sponsor and Creative Planning.
Website: Peter Mallouk - President & CEO - Creative Planning