episode: 82

TMA Book Review: Psychology of Money by Morgan Housel

September 6, 2023

listen now

Improve your investment decision making

Have you ever wondered whether your financial decisions align with your future goals? Do our emotions play a pivotal role in shaping our financial choices, and influencing our long-term outcomes?

Join your hosts Marcelo Taboada, Lawrence Greenberg, and Jackson Matthews as they discuss takeaways from Morgan Housel’s book, Psychology of Money. It’s an incredible personal finance book filled with great concepts and stories that can help improve decision making for all investors.

Thank you for tuning in!

Impactful, and relatable financial insights

“Psychology of Money” by Morgan Housel: Surprising, impactful, and relatable financial insights through storytelling (1:32)
Emotions’ role in investing, pitfalls, and examples (3:00)
How a Janitor Became a Millionaire by Saving and Investing (5:14)
Balancing rationality and personal comfort in financial decision-making (8:43)
Smart doesn’t guarantee right decisions. Behavior matters more than knowledge (12:12)
Compounding’s power lies in exponential growth over time (14:22)
Social comparison drives spending, but wealth is often what you don’t see (18:14)
Healthy financial habits: Pay yourself first, develop an investment philosophy, tune out noise (20:56)
Media understands psychology, but lacks understanding of individuals (27:41)

Mentioned in this Episode:

Meet your hosts

Keith Matthews

Partner & Portfolio Manager

Marcelo Taboada

Associate Portfolio Manager

Lawrence Greenberg

Associate Portfolio Manager

Thanks for Listening!

Be sure to subscribe on Apple, Google, Spotify, or wherever you get your podcasts. And feel free to drop us a line at lawrence@tma-invest.com or 514-695-0096 ext.112 Follow Tulett, Matthews & Associates on social media on LinkedIn, Facebook, and more! Follow The Empowered Investor on Facebook, LinkedIn, and Instagram

Dive Deeper: Related Episodes

Essential Financial Strategies for Entrepreneurs

How can entrepreneurs effectively plan and accumulate wealth? Join us as we dive into key financial strategies for entrepreneurs, including optimizing tax savings, protecting assets, and setting up holding companies for legal and tax benefits.

Raising Money Smart Kids is the Wisest Investment

As parents, we all want to set our kids up for financial success. But how do you teach them about money in a way that sticks? We sit down with Robin Taub, CPA and author of “The Wisest Investment,” to get her expert advice on instilling money smarts from an early age.

Happy Birthday! The Mutual Fund Structure Turns 100

Celebrate 100 years of mutual fund history, tracing their evolution from niche products to investment essentials. Explore their benefits: diversified exposure, easy access to foreign markets, and convenient trading. Confront their drawbacks: high fees, transparency issues, and sales-driven practices.