60 MORGAN HOUSEL Quotes (Author of The Psychology of Money)

Last Updated on January 30, 2023

Looking for Morgan Housel quotes?

Well, this article explores the wisdom of renowned financial writer and thinker, Morgan Housel through his quotes on various aspects of life which obviously includes money.

By reading this article, you’ll learn more about how Morgan Housel sees these important issues from his own unique point of view. One knows that personal history, beliefs, emotions, and even marketing can all play a role in how we make financial decisions but still we fail to understand that and make mistakes. As a result, understanding and managing one’s own behavior is crucial for making sound financial decisions and that’s what Morgan Housel quotes will teach you.

We’ve put together a list of quotes that we think will speak to our readers.

These quotes will help you see personal finance and investing in a new way and give you valuable information that you can use on your own financial journey. Also, if you don’t know much about Morgan, let me tell you about him.

Morgan Housel is a well-known writer and thinker about money. He is a partner at the Collaborative Fund, a venture capital firm that invests in companies that work to make people’s lives better. He used to write columns for The Motley Fool and The Wall Street Journal about personal finance, investing, and the economy. He wrote a book called “The Psychology of Money,” which has become very popular with readers.

Now, let’s get started with our compilation of Housel’s best quotes.

Morgan Housel Quotes

1. “Doing well with money is not about what you know, it’s not about where you went to school or how smart you are, it’s how you behave.” – Morgan Housel, Psychology Of Money

2. “Admit when you are wrong.” – Morgan Housel, Psychology Of Money

3. “A genius who loses control of their emotions can be a financial disaster. The opposite is also true. Ordinary folks with no financial education can be wealthy if they have a handful of behavioral skills that have nothing to do with formal measures of intelligence.”

– Morgan Housel, Psychology Of Money

4. “Assume the worst, hope for the best, accept reality.” – Morgan Housel, Psychology Of Money

5. “Money is everywhere, it affects all of us, and confuses most of us.” – Morgan Housel, Psychology Of Money

6. “Be careful when reading about how stupid investors can be and not realize you’re reading about yourself.” – Morgan Housel, Psychology Of Money

7. “To grasp why people bury themselves in debt you don’t need to study interest rates; you need to study the history of greed, insecurity, and optimism.” – Morgan Housel, Psychology Of Money

8. “Big risks will always be disregarded; small risks always blown out of proportion.” – Morgan Housel, Psychology Of Money

9. “I love Voltaire’s observation that “History never repeats itself; man always does.”” – Morgan Housel, Psychology Of Money

10. “Dollar-cost average for your entire life and you’ll beat almost everyone who doesn’t.” – Morgan Housel, Psychology Of Money

“Dollar-cost average for your entire life and you'll beat almost everyone who doesn't.” Click To Tweet

11. “People do some crazy things with money. But no one is crazy.” – Morgan Housel, Psychology Of Money

12. “Don’t attempt to keep up with the Joneses without realizing the Joneses aren’t any happier than you are.” – Morgan Housel, Psychology Of Money

13. “Your personal experiences with money make up maybe 0.00000001% of what’s happened in the world, but maybe 80% of how you think the world works.” – Morgan Housel, Psychology Of Money

14. “During the last 100 years, there have been more 10% market pullbacks than Christmases. Everyone knows Christmas will come; think of volatility the same way.” – Morgan Housel, Psychology Of Money

15. “We all think we know how the world works. But we’ve all only experienced a tiny sliver of it.” – Morgan Housel, Psychology Of Money

16. “Emotional intelligence is more important than book intelligence.” – Morgan Housel, Psychology Of Money

17. “We all do crazy stuff with money, because we’re all relatively new to this game and what looks crazy to you might make sense to me. But no one is crazy—we all make decisions based on our own unique experiences that seem to make sense to us in a given moment.” – Morgan Housel, Psychology Of Money

18. “Every five to seven years, people forget that recessions occur every five to seven years.” – Morgan Housel, Psychology Of Money

19. “Luck and risk are siblings. They are both the reality that every outcome in life is guided by forces other than individual effort.” – Morgan Housel, Psychology Of Money

20. “If you give luck and risk their proper respect, you realize that when judging people’s financial success—both your own and others’—it’s never as good or as bad as it seems.” – Morgan Housel, Psychology Of Money

21. “Holding 60% of your assets in stocks and 40% in bonds isn’t perfect for everyone; but I can think of a thousand worse strategies.” – Morgan Housel, Psychology Of Money

22. “When things are going extremely well, realize it’s not as good as you think. You are not invincible, and if you acknowledge that luck brought you success then you have to believe in luck’s cousin, risk, which can turn your story around just as quickly.” – Morgan Housel, Psychology Of Money

23. “Someone driving a $100,000 car might be wealthy. But the only data point you have about their wealth is that they have $100,000 less than they did before they bought the car (or $100,000 more in debt). That’s all you know about them. We tend to judge wealth by what we see, because that’s the information we have in front of us.”

– Morgan Housel, Psychology Of Money

24. “Ignore people who refuse to change their minds when the facts change.” – Morgan Housel, Psychology Of Money

25. “The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe you out so you can keep playing until the odds fall in your favor.” – Morgan Housel, Psychology Of Money

"The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe you out so you can keep playing until the odds fall in your favor." Click To Tweet

26. “There is no reason to risk what you have and need for what you don’t have and don’t need.” – Morgan Housel, Psychology Of Money

27. “Imagine how much stuff you’d have to make up if you were forced to talk 24/7. Remember this when watching financial news on TV.” – Morgan Housel, Psychology Of Money

28. “Investors were probably better informed 20 years ago when there was 90% less financial news.” – Morgan Housel, Psychology Of Money

29. “Compounding works best when you can give a plan years or decades to grow. This is true for not only savings but careers and relationships. Endurance is key. And when you consider our tendency to change who we are over time, balance at every point in your life becomes a strategy to avoid future regret and encourage endurance.” – Morgan Housel, Psychology Of Money

30. “Good investing isn’t necessarily about earning the highest returns, because the highest returns tend to be one-off hits that can’t be repeated. It’s about earning pretty good returns that you can stick with and which can be repeated for the longest period of time. That’s when compounding runs wild.” – Morgan Housel, Psychology Of Money

31. “Judge investors by the quality of their arguments, not the performance of their last trade.” – Morgan Housel, Psychology Of Money

32. “Just as you should dress appropriately for your age, you should spend appropriately for your income, and not a penny more.” – Morgan Housel, Psychology Of Money

33. “Risk is what’s left over when you think you’ve thought of everything.” – Morgan Housel, Psychology Of Money

34. “Most people’s biggest expense is interest, which comes from living beyond your means, and buying things they think will impress others, which comes from insecurity. Avoid these two and you’ll grow richer than most of your peers.” – Morgan Housel, Psychology Of Money

35. “There are a million ways to get wealthy, and plenty of books on how to do so. But there’s only one way to stay wealthy: some combination of frugality and paranoia.”

– Morgan Housel, Psychology Of Money

36. “Reaching for yield to increase your income is often like sticking your hands in a fire to warm them up — good in theory, disastrous in practice.” – Morgan Housel, Psychology Of Money

37. “Plan to survive reality. Future filled with unknown is everyone’s reality.” – Morgan Housel, Psychology Of Money

38. “Getting money is one thing. Keeping it is another.” – Morgan Housel, Psychology Of Money

39. “Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risk. It requires humility, and fear that what you’ve made can be taken away from you just as fast.” – Morgan Housel, Psychology Of Money

40. “Read last year’s market predictions and you’ll never again take this year’s predictions seriously.” – Morgan Housel, Psychology Of Money

41. “Read more books and fewer articles.” – Morgan Housel, Psychology Of Money

42. “Optimism sounds like a sales pitch. Pessimism sounds like someone trying to help you.” – Morgan Housel, Psychology Of Money

“Optimism sounds like a sales pitch. Pessimism sounds like someone trying to help you.” Click To Tweet

43. “Daniel Kahneman once told me about the stories people tell themselves to make sense of the past. He said: Hindsight, the ability to explain the past, gives us the illusion that the world is understandable. It gives us the illusion that the world makes sense, even when it doesn’t make sense. That’s a big deal in producing mistakes in many fields.” – Morgan Housel, Psychology Of Money

44. “Save for your own retirement; assume Social Security and private pensions won’t be around (even though they probably will).” – Morgan Housel, Psychology Of Money

45. “Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.”

– Morgan Housel, Psychology Of Money

46. “Start saving for college before your kid is born, and start saving for your retirement before you graduate college. You’ll feel silly when you start and like a genius when you finish.” – Morgan Housel, Psychology Of Money

47. “The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”” – Morgan Housel, Psychology Of Money

48. “Richard Feynman, the great physicist, once said, “Imagine how much harder physics would be if electrons had feelings.” Well, investors have feelings” – Morgan Housel, Psychology Of Money

49. “At every stage of our lives we make decisions that will profoundly influence the lives of the people we’re going to become, and then when we become those people, we’re not always thrilled with the decisions we made. So young people pay good money to get tattoos removed that teenagers paid good money to get. Middle-aged people rushed to divorce people who young adults rushed to marry. Older adults work hard to lose what middle-aged adults worked hard to gain. On and on and on.48” – Morgan Housel, Psychology Of Money

50. “Be careful who you praise and admire. Be careful who you look down upon and wish to avoid becoming.” – Morgan Housel, Psychology Of Money

51. “The only way to be wealthy is to not spend the money that you do have. It’s not just the only way to accumulate wealth; it’s the very definition of wealth.” – Morgan Housel, Psychology Of Money

52. “And since you can build wealth without a high income, but have no chance of building wealth without a high savings rate, it’s clear which one matters more.” – Morgan Housel, Psychology Of Money

53. “The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. It is the highest dividend money pays.” – Morgan Housel, Psychology Of Money

54. “Spending money to show people how much money you have is the fastest way to have less money.” – Morgan Housel, Psychology Of Money

55. “Beware taking financial cues from people playing a different game than you are.” – Morgan Housel, Psychology Of Money

56. “Comfortably living below what you can afford, without much desire for more, removes a tremendous amount of social pressure that many people in the modern first world subject themselves to. Nassim Taleb explained: “True success is exiting some rat race to modulate one’s activities for peace of mind.” I like that.” – Morgan Housel, Psychology Of Money

57. “To make money they didn’t have and didn’t need, they risked what they did have and did need. And that’s foolish. It is just plain foolish. If you risk something that is important to you for something that is unimportant to you, it just does not make any sense.” – Morgan Housel, Psychology Of Money

58. “The more you learn about the economy, the more you realize you have no idea what’s going on.” – Morgan Housel, Psychology Of Money

59. “The most powerful way to grow your money is learning to live with less, since you have complete control over it.” – Morgan Housel, Psychology Of Money

60. “You can probably afford not to be a great investor — you probably can’t afford to be a bad one.” – Morgan Housel, Psychology Of Money

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