Gut Instincts and Big Decisions, with Morgan Housel

Gut Instincts and Big Decisions, with Morgan Housel

#488: Ever made a flippant, seemingly minor decision that radically changed the course of your life? Morgan Housel has experienced this. At age 17, he made a quick decision that ended up saving his life. Sadly, two of his friends were less fortunate. He shares that story in today's podcast episode, and sheds light on the lessons he's learned from it. Housel says that his lifesaving choice -- and many of our other important decisions -- are snap verdicts, ones that we don’t spend much time thinking about. If pivotal moments are decided in a flash, how do we navigate risk? How do we evaluate our options? Housel says this comes understanding concepts that remain constant, consistent, and universal. We need to accept that humans aren’t rational. We must appreciate the reasons why the best answer doesn’t always win. We ought to remember that we overlook many good things happening around us. These constants will most likely impact our futures. Housel was named by MarketWatch as one of the 50 most influential people in the market. He is the New York Times bestselling author of The Psychology of Money. His new book is titled Same As Ever. He joins us to discuss the ideas in his latest book. For more information, visit the show notes at https://affordanything.com/episode488 Learn more about your ad choices. Visit podcastchoices.com/adchoices

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My Bank Account Hit Zero ... Then I Got Rich -- with Jaspreet Singh of Minority Mindset

My Bank Account Hit Zero ... Then I Got Rich -- with Jaspreet Singh of Minority Mindset

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#758: Joe says that if you tell an employer you’re not motivated by money, you’re unemployable. Paula says that’s exactly the person she wants to hire. Former financial planner Joe Saul-Sehy joins Pa...

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Steve Jobs Hated the Name “Genius Bar.” How He Came Around, with Ron Johnson

Steve Jobs Hated the Name “Genius Bar.” How He Came Around, with Ron Johnson

#757: Ron Johnson is the creator of the Apple Stores and former CEO of JCPenney. At age 24 Ron Johnson turned down a $120,000 Goldman Sachs offer to unload trucks for $40,000, and that detour led Stev...

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#756: In September 2008, Jared Dillian watched about half a million dollars of Lehman Brothers stock go to zero in a single week. He wasn't allowed to sell any of it. What he built afterward is a port...

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First Friday: AI, Debt, and a Social Security Shortfall. Should Your Money Plans Change? With Rob Berger

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#755: Many retirees fear running out of money more than they fear dying. AI is reshaping the economy, the U.S. now spends over $1 trillion on interest, and Social Security faces a shortfall. Rob Berge...

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Q&A: We Have $80K in Cash and Want a 1–2 Year Sabbatical. Is It Enough?

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#754: Four months of savings in the bank, a goal of eight, and a career break she's excited to fund. Does everything else really have to wait? Paula and Joe's answer: don't turn your emergency fund in...

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Why 60,000 New York Apartments Sit Empty in a Housing Crisis, with Kenny Burgos

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#753: New York City is short roughly half a million homes, yet at least 60,000 rent-regulated apartments sit empty. Under current rules, many owners lose less money by leaving them vacant than by fixi...

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#752: A caller's rental is performing fine, but a late-paying tenant and a roof replacement have her ready to sell it before she moves to Madrid for her MBA. Paula argues the real fix isn't selling — ...

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