Morgan Housel, one of our foremost aficionados at the intersection of finance and psychology, has recently released his new book. In it, he takes readers on a deep dive into the complex connection between happiness, riches, and satisfaction. Along the way, Housel—the two-time winner of the Society of American Business Editors and Writers’ Best in Business Award—illuminates an underrated truth. He points out that material success doesn’t lead to happiness either. His unique perspective draws from his extensive research and personal experiences, including encounters with billionaires and reflections on everyday life.
He is the winner of the New York Times Sidney Award. MarketWatch has listed him as one of the 50 most influential people in markets. His ideas were so prescient that they continue to ring true today, in our consumer-driven culture where many people still measure happiness by how rich they are. In his new book, The Psychology of Money, Housel dives deeply into this relationship, making the case that chasing dollars usually wins out over pursuing happiness.
The author’s grandmother-in-law Mrs. had three decades in retirement living on her one thin Social Security check. Although she had few financial means to speak of, Housel found her happier than most billionaires he’s encountered. This jarring difference led him to explore the reasons behind how pursuing riches can make us miserable.
In that book, Housel tells a fascinating story about writer Marcel Proust. It centers around a young man who gets sucked into the jet set lives of the wealthy elite. He connects the dots between Proust’s story and the lessons he’s learned over the course of his lavishly underpaid career. “The happiest people aren’t the wealthiest. They’re the most content,” Housel states, underscoring his belief that true happiness stems from appreciation rather than accumulation.
Through his writings, Housel provides guidance on launching a first business, covering everything from testing an idea to growing revenue. He reminds aspiring entrepreneurs that the most rewarding experiences come when you look for value outside money-making potential. This strategy is a natural fit with his overarching philosophy on wealth and happiness.
Housel’s awe for Proust includes painter Jean Siméon Chardin, who specialized in still life paintings. “When you walk around a kitchen, you will say to yourself, this is interesting, this is grand, this is beautiful like a Chardin,” Housel quotes Proust, illustrating the beauty found in simplicity and daily experiences.
His website, www.morganhousel.com, is an outlet for him to share his work and insights with a wider audience. Housel’s New York Times bestsellers have already established him as a credible voice in discussions surrounding finance and personal fulfillment.