Chapter
Misconceptions About Wealth
18:26 - 23:54 (05:28)
Many people have distorted beliefs about what wealth is and how it is obtained, leading to misconceptions and misjudgments about individuals' financial statuses.
Clips
The value we place on our money and what we do with it is more important than how much we make or what our investment returns are according to Morgan Housel in his new book 'The Psychology of Money.'
18:26 - 20:58 (02:31)
Summary
The value we place on our money and what we do with it is more important than how much we make or what our investment returns are according to Morgan Housel in his new book 'The Psychology of Money.'
ChapterMisconceptions About Wealth
Episode#142 - Morgan Housel - How To Create & Manage Your Personal Wealth
PodcastModern Wisdom
Despite the difficulty in seeing and understanding wealth, it's important to recognize that the wealth being shown outwardly may not be real wealth.
20:58 - 22:27 (01:29)
Summary
Despite the difficulty in seeing and understanding wealth, it's important to recognize that the wealth being shown outwardly may not be real wealth. The concept of socialized rewards versus internalized rewards also plays a crucial role.
ChapterMisconceptions About Wealth
Episode#142 - Morgan Housel - How To Create & Manage Your Personal Wealth
PodcastModern Wisdom
People often have distorted thoughts about what wealth is and how it's generated.
22:27 - 23:54 (01:27)
Summary
People often have distorted thoughts about what wealth is and how it's generated. It's difficult to determine someone's financial status just by their car or appearance.