61 Morgan Housel Quotes on Life & Money (WISDOM)

Top 10 Most Famous Morgan Housel Quotes (BEST)

“Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.”
Morgan Housel

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behaviour is hard to teach, even to really smart people. — Doing well with **money** isn’t necessarily about what you know. It’s about how you behave. And behaviour is hard to teach, even to really smart people.

Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time. — Money’s greatest intrinsic value—and this can’t be overstated—is its **ability** to give you control over your **time**.

Investing isn't about beating others at their game. It's about controlling yourself at your own game. — Investing isn’t about beating others at their game. It’s about controlling yourself at your own game.

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”
Morgan Housel

Assume the worst, hope for the best, accept reality. — Assume the worst, **hope** for the best, accept reality.

Savings can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you. — **Savings** can be created by spending less. You can spend less if you desire less. And you will desire less if you care less about what others think of you.

“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

If you want to do better as an investor, the single most powerful thing you can do is increase your time horizon. Time is the most powerful force in investing.

The best company in the world run by the smartest management can be a terrible investment if purchased at the wrong price.

9 Morgan Housel Quotes on Money & Financial Freedom

“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 behavioural skills that have nothing to do with formal measures of intelligence.”
Morgan Housel

Spending money to show people how much money you have is the fastest way to have less money. — Spending **money** to show people how much money you have is the fastest way to have less money.

Getting rich and staying rich are different things that require different skills.

Investing is not the study of finance. It's the study of how people behave with money. — Investing is not the study of finance. It’s the study of how people behave with **money**.

Controlling your time is the highest dividend money pays. — Controlling your time is the highest dividend **money** pays.

Independence, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want. — **Independence**, to me, doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.

To grasp why people bury themselves in debt, you don’t need to study interest rate you need to sturdy the history of greed, insecurity and optimism. — To grasp why people bury themselves in **debt**, you don’t need to study interest rate: you need to sturdy the history of **greed**, insecurity and optimism.

The highest form of wealth is the ability to wake up every morning and say, 'I can do whatever I want today.' — The highest form of **wealth** is the ability to wake up every morning and say, ‘I can do whatever I want today.’

People do some crazy things with money. But no one is crazy.

11 Wise Morgan Housel Quotes About Investing (WISDOM)

“Investing is not a game where the person with the 160 IQ beats the person with the 130 IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.”
Morgan Housel

Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.

The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions. — The stock market is the story of cycles and of the human behavior that is **responsible** for overreactions in both directions.

The stock market is the best place to find out about human nature.

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. — 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.

“Being a successful investor is not about making the most money in the shortest amount of time. It’s about making enough money to reach your goals with minimal regret or emotional strain.”
Morgan Housel

Good investing is not necessarily about making good decisions. It’s about consistently not screwing up. — Good investing is not necessarily about making good decisions. It’s about **consistently** not screwing up.

The ability to do nothing is one of the most underappreciated skills in investing. — The ability to do nothing is one of the most underappreciated skills in **investing**.

The best investors aren't the ones with the highest IQ. They are the ones who have a process and the discipline to stick to it. — The best investors aren’t the ones with the highest IQ. They are the ones who have a process and the **discipline** to stick to it.

Emotional intelligence is more important than book intelligence.

Dollar-cost average for your entire life and you'll beat almost everyone who doesn't. — Dollar-cost average for your entire life and you’ll beat almost everyone who doesn’t.

13 Morgan Housel Quotes on Luck and Risks

“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

Big risks will always be disregarded; small risks always blown out of proportion.

You get paid for the dangers you see and the risks you take, not the dangers and risks you don't see. — You get paid for the dangers you see and the **risks** you take, not the dangers and risks you don’t see.

Risk is what’s left over when you think you’ve thought of everything.

Luck and risk are siblings. They are both the reality that every outcome in life is guided by forces other than individual effort. — **Luck** and **risk** are siblings. They are both the reality that every outcome in life is guided by forces other than individual effort.

There are many things never worth risking, no matter the potential gain.

“Luck and risk are both the reality that every outcome in life is guided by forces other than individual effort. They are so similar that you can’t believe in one without equally respecting the other. They both happen because the world is too complex to allow 100% of your actions to dictate 100% of your outcomes. They are driven by the same thing: You are one person in a game with seven billion other people and infinite moving parts. The accidental impact of actions outside of your control can be more consequential than the ones you consciously take.”
Morgan Housel

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. — 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.

The biggest risk of all is not taking risks.

The price of a stock doesn't tell you whether it's risky or not. Only your understanding of a business can do that. — The price of a stock doesn’t tell you whether it’s risky or not. Only your understanding of a **business** can do that.

“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

Being a successful investor is about mastering the art of not losing money.

There is no reason to risk what you have and need for what you don’t have and don’t need.

18 Morgan Housel Quotes that will Make You Think

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

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

Ignore people who refuse to change their minds when the facts change.

Things that have never happened before happen all the time.

“Growth is driven by compounding, which always takes time. Destruction is driven by single points of failure, which can happen in seconds, and loss of confidence, which can happen in an instant.”
Morgan Housel

No one is impressed with your possessions as much as you are.

Two things make an economy grow population growth and productivity growth. Everything else is a function of one of those two drivers. — Two things make an economy grow: population growth and productivity growth. Everything else is a function of one of those two drivers.

Napoleon’s definition of a military genius was, 'The man who can do the average thing when all those around him are going crazy.' — Napoleon’s definition of a military genius was, ‘The man who can do the average thing when all those around him are going crazy.’

Everything has a price, but not all prices appear on labels.

“Be nicer and less flashy. No one is impressed with your possessions as much as you are. You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you’re more likely to gain those things through kindness and humility than horsepower and chrome.”
Morgan Housel