For People Feeling Behind In Life! - Find Purpose, Achieve Your Goals & Be Happy | Morgan Housel

Rangan Chatterjee

Feb 28, 2024

Episode description

Try LMNT today and get a FREE sample pack! https://bit.ly/48sii34

Order my BESTSELLING BOOK 'Happy Mind, Happy Life: The New Science of Mental Wellbeing' - US: https://amzn.to/3uOuMEq UK: https://amzn.to/3T2iiBs

When John D Rockefeller was asked how much money was enough, he famously replied, “Just a little bit more.” This quote is often used to illustrate our hard-to-shake view that money will solve all life’s problems. But as today’s guest is keen to point out, it probably won’t. Because life’s true riches don’t have a £-sign in front of them.

Today’s guest is the multi award-winning financial writer and bestselling author Morgan Housel. Morgan is a partner at The Collaborative Fund and a former columnist at The Wall Street Journal.

In his first book, The Psychology of Money, Morgan explains how doing well with finance is less about what you know and more about how you behave. This is an idea that I believe applies equally to health. That book became a global sensation and to date has sold over 4 million copies. And his second book, Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life has just come out.

Morgan explains that in finance, as in health, we generally don’t want to put in the hard work over the long term. We want shortcuts, secret hacks, silver bullets. Yet, he says, basic truths and principles remain the same as ever.

We also talk about the relationship between money and happiness, the relationship between our finances and our health, the real meaning of wealth and the importance of having a sense of control.

We discuss the problems with black and white thinking, the dangers of social comparison, the difference between success and happiness, and why we need to be careful about who we look up to.

At its core, this is a conversation about what it really means to live a happy and contented life.

There’s a quote from Lao Tzu, that I really like: “He who knows he has enough is rich.” It’s such simple yet profound advice. And it chimes with Morgan’s ultimate message, that whatever your current financial situation, what’s going to make you happy is probably not what you think.

This is a thought provoking conversation that I’m pretty sure will have you thinking deeply about your life.

#feelbetterlivemore
-----

Connect with Morgan Housel:
https://www.morganhousel.com/
https://twitter.com/morganhousel
https://www.instagram.com/morganhousel/

Morgan’s books:
Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
US: https://amzn.to/49PuCLR UK: https://amzn.to/49OVtYv

The Psychology of Money: Timeless lessons on wealth, greed, and happiness
US: https://amzn.to/3uGrMtY UK: https://amzn.to/42RwWQp

#feelbetterlivemore #feelbetterlivemorepodcast

-------
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Find Dr Chatterjee’s 4 Pillars of Health in The 4 Pillar Plan available via http://amzn.to/2yGfpuB
The US version, How to Make Disease Disappear is available via https://amzn.to/2Gj1YEL
-----
Listen to all previous podcast episodes on https://drchatterjee.com/podcast or via these podcast platforms by searching for 'Feel Better, Live More'.
Apple Podcasts https://apple.co/feelbetterlivemore
Spotify https://open.spotify.com/show/6NyPQfcSR9nj0DPDr2ixrK
-----
Follow Dr Chatterjee at:
Website: https://drchatterjee.com/
Facebook: https://www.facebook.com/drchatterjee
Twitter: https://twitter.com/drchatterjeeuk
Instagram: https://www.instagram.com/drchatterjee/
Newsletter: https://drchatterjee.com/subscription

DISCLAIMER: The content in the podcast and on this webpage is not intended to constitute or be a substitute for professional medical advice, diagnosis, or treatment. Never disregard professional medical advice or delay in seeking it because of something you have heard on the podcast or on my website.

Episode description

Try LMNT today and get a FREE sample pack! https://bit.ly/48sii34

Order my BESTSELLING BOOK 'Happy Mind, Happy Life: The New Science of Mental Wellbeing' - US: https://amzn.to/3uOuMEq UK: https://amzn.to/3T2iiBs

When John D Rockefeller was asked how much money was enough, he famously replied, “Just a little bit more.” This quote is often used to illustrate our hard-to-shake view that money will solve all life’s problems. But as today’s guest is keen to point out, it probably won’t. Because life’s true riches don’t have a £-sign in front of them.

Today’s guest is the multi award-winning financial writer and bestselling author Morgan Housel. Morgan is a partner at The Collaborative Fund and a former columnist at The Wall Street Journal.

In his first book, The Psychology of Money, Morgan explains how doing well with finance is less about what you know and more about how you behave. This is an idea that I believe applies equally to health. That book became a global sensation and to date has sold over 4 million copies. And his second book, Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life has just come out.

Morgan explains that in finance, as in health, we generally don’t want to put in the hard work over the long term. We want shortcuts, secret hacks, silver bullets. Yet, he says, basic truths and principles remain the same as ever.

We also talk about the relationship between money and happiness, the relationship between our finances and our health, the real meaning of wealth and the importance of having a sense of control.

We discuss the problems with black and white thinking, the dangers of social comparison, the difference between success and happiness, and why we need to be careful about who we look up to.

At its core, this is a conversation about what it really means to live a happy and contented life.

There’s a quote from Lao Tzu, that I really like: “He who knows he has enough is rich.” It’s such simple yet profound advice. And it chimes with Morgan’s ultimate message, that whatever your current financial situation, what’s going to make you happy is probably not what you think.

This is a thought provoking conversation that I’m pretty sure will have you thinking deeply about your life.

#feelbetterlivemore
-----

Connect with Morgan Housel:
https://www.morganhousel.com/
https://twitter.com/morganhousel
https://www.instagram.com/morganhousel/

Morgan’s books:
Same as Ever: Timeless Lessons on Risk, Opportunity and Living a Good Life
US: https://amzn.to/49PuCLR UK: https://amzn.to/49OVtYv

The Psychology of Money: Timeless lessons on wealth, greed, and happiness
US: https://amzn.to/3uGrMtY UK: https://amzn.to/42RwWQp

#feelbetterlivemore #feelbetterlivemorepodcast

-------
Sign up to my new newsletter - Friday Five https://drchatterjee.com/fridayfive
Find out about the 3 Question Journal https://bit.ly/3TSaYtX
Order Happy Mind Happy Life. US & Canada version https://amzn.to/3DRxjgp, UK version https://amzn.to/304opgJ
Feel Great Lose Weight is available to order in the US & Canada https://amzn.to/2GWPgls and in the UK https://amzn.to/2W6bsOE
Dr Chatterjee’s book Feel Better in 5 is out now in the US and Canada https://amzn.to/2EB2oM0 and in the UK https://amzn.to/2G0XK7l
Order Dr Chatterjee’s book The Stress Solution https://amzn.to/2MZ8u8h
Find Dr Chatterjee’s 4 Pillars of Health in The 4 Pillar Plan available via http://amzn.to/2yGfpuB
The US version, How to Make Disease Disappear is available via https://amzn.to/2Gj1YEL
-----
Listen to all previous podcast episodes on https://drchatterjee.com/podcast or via these podcast platforms by searching for 'Feel Better, Live More'.
Apple Podcasts https://apple.co/feelbetterlivemore
Spotify https://open.spotify.com/show/6NyPQfcSR9nj0DPDr2ixrK
-----
Follow Dr Chatterjee at:
Website: https://drchatterjee.com/
Facebook: https://www.facebook.com/drchatterjee
Twitter: https://twitter.com/drchatterjeeuk
Instagram: https://www.instagram.com/drchatterjee/
Newsletter: https://drchatterjee.com/subscription

DISCLAIMER: The content in the podcast and on this webpage is not intended to constitute or be a substitute for professional medical advice, diagnosis, or treatment. Never disregard professional medical advice or delay in seeking it because of something you have heard on the podcast or on my website.

Mindsip insights from this episode:

Invest in savings and sleep for future independence

Every dollar you save is a slice of future independence you own, just as every small health improvement, like 15 more minutes of sleep, measurably improves your biochemistry.

Recognize status-seeking behavior to find true happiness

Humans are evolutionarily wired to seek status, not happiness, which explains why we often pursue things like money and promotions that don't actually make us happier.

Prioritize family and kindness over financial success

In a study of 1,000 elderly Americans, not a single person wished they had earned more money; instead, they all wished they had spent more time with family and been kinder.

Acknowledge luck's role in success to balance risk perception

We are acutely aware of risk, which are bad things outside our control, but are almost completely blind to the role of luck, which are good things outside our control, in our successes.

Balance career success with personal priorities to avoid hidden costs

Achieving major career success can actually make some parts of your life worse by creating impossibly high expectations and reducing time for what truly matters, like family.

Purchase lottery tickets to buy hope and escape feelings of entrapment

For people who feel trapped, a lottery ticket is a tangible purchase that provides a sense of hope, which can be psychologically worth the cost.

Value simplicity over complexity in expert advice

People often dismiss simple, effective advice because they expect experts to provide complex, secret knowledge that justifies their fees and trust.

Prioritize behaviors over knowledge for better health outcomes

Your health outcomes are determined more by your behavior, like sleeping and eating well, than by your knowledge of medicine or biology.

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© Mindsip 2025 – Made with ❤ in Vilnius