The Ed Mylett Show showcases the greatest peak-performers across all industries in one place, sharing their journey, knowledge and thought leadership. With Ed Mylett and featured guests in almost every industry including business, health, collegiate and professional sports, politics, entrepreneurship, science, and entertainment, you'll find motivation, inspiration and practical steps to help you become the best version of you!
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The Ed Mylett Show showcases the greatest peak-performers across all industries in one place, sharing their journey, knowledge and thought leadership. With Ed Mylett and featured guests in almost every industry including business, health, collegiate and professional sports, politics, entrepreneurship, science, and entertainment, you'll find motivation, inspiration and practical steps to help you become the best version of you!
The Psychology of Money | Simple Money Rules That Will Make You Rich with Morgan Housel
THE ED MYLETT SHOW
57 minutes
3 weeks ago
The Psychology of Money | Simple Money Rules That Will Make You Rich with Morgan Housel
Are You Making This Huge Money Mistake?
Most people think they need to make more money to get rich. But what if I told you that’s exactly why they’re broke? Today, I’m sitting down with Morgan Housel, the author of The Psychology of Money, to completely rewire the way you think about wealth, security, and financial freedom. If you’ve ever wondered why some people who earn millions still end up broke while others with modest salaries quietly build real wealth, this episode is for you.
We break down the difference between being rich and being wealthy, why chasing status is a financial trap, and how most people dramatically underestimate how much money they’ll need to stop working one day. Morgan shares why simple beats complex when it comes to investing, the real cost of debt-driven wealth, and how saving money isn’t just about you—it’s about being ready for life’s inevitable curveballs.
I also open up about my own financial mindset—how fear of being broke has been a bigger driver for me than the excitement of getting rich, and why even after years of making an eight-figure income, I’ve stuck to a strategy of endurance, not shortcuts. Whether you’re just starting your financial journey or trying to level up, this conversation will challenge what you thought you knew about money.
What You’ll Learn in This Episode:
Why most people who want to be millionaires actually spend like they already are—and that’s why they stay broke
The #1 habit of the wealthy (hint: it has nothing to do with income)
How compounding works in real life and why it’s the most powerful tool you’re probably ignoring
The psychological traps that keep you from saving and investing
Why financial independence is really about having options, not just money
The hidden cost of chasing status and external approval
How to prepare for life’s financial curveballs—because they WILL happen
At the end of the day, it’s not just about how much you make—it’s about how long you can keep it. Don’t miss this one.
Listen now and take control of your financial future!
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THE ED MYLETT SHOW
The Ed Mylett Show showcases the greatest peak-performers across all industries in one place, sharing their journey, knowledge and thought leadership. With Ed Mylett and featured guests in almost every industry including business, health, collegiate and professional sports, politics, entrepreneurship, science, and entertainment, you'll find motivation, inspiration and practical steps to help you become the best version of you!
