Financial Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!

People talk a lot about passive income. Look, there's two ways to get wealthier. And passive income is not part of that equation. But what's really important for people is how we should spend money. Because I've written about money and finance and investing for 20 years. And I can tell you the correlation between how much you spend and how happy you are. It can exist, but it is not as simple as you think. Morgan Hausel is the legendary financial guru, revealing that everything we've been told. about saving and spending money could be our biggest downfall. And here's why. If you're unhappy with your life, it is a very easy assumption to make that if you had more money, a bigger house, a better car, whatever it might be, things would be better. And it's a lie we tell ourselves, of course. Because here's the truth, so much of spending is a psychological itch that you're trying to scratch. And that manifests in so many different ways. For example, life is a competition. It doesn't matter how well I'm doing, it matters how well I'm doing relative to you. And the most tangible way to do that is the material stuff. I was reading some funny stuff. They say that if you win the lottery, the probability of your neighbor going bankrupt. increases. It's an amazing statistic. So be careful who you socialize with because you're going to

anchor to them as a baseline level of success and happiness. So is it wrong to buy a roulette? Absolutely not, but when it's controlling your personality, it's no different than any other addiction where it's forcing you to do things that you otherwise don't want to do. What about people who don't seem to spend anything? It's just as dangerous. Like there's something called post-traumatic broke syndrome. And I'll talk about that. But I guarantee you that everyone can spend money in a way that's gonna make them happier. So if I wanted to make a framework to know how to spend my money, where do I start? But also, based on everything you know about money, if I want to get complete financial freedom, what's the five things that I should be thinking about? The first thing that I think that's most important is Mogan. Everybody loves to talk about investing. They love to talk about

Saving money. But I've never heard anybody. emphasize the importance of spending money. You've written this book, The Art of spending. So it begs the question, why would someone like you, who sells tens of millions of copies of their books when they write about something, and really, really cares about

We already have this episode, so unlocking it is cheap and permanent: the full transcript, segment and word-level timestamps, and .txt, .srt, .vtt and word-level JSON downloads, as many times as you like, forever.

10 free credits is 10 episodes like this one a month. Episodes nobody has transcribed yet cost their length in hours, because we have to actually transcribe them.