Episode 74 - The Mindset Behind Money: Insights from 'The Psychology of Money'

In this episode, we explore the deep connection between mindset and money through the lens of Morgan Housel's best-selling book The Psychology of Money. This conversation unpacks the emotional and psychological forces that drive financial behavior and long-term wealth building.

We discuss why wealth isn’t always visible, how compounding works best with time and patience, and why understanding your personal definition of “enough” can be the key to lasting financial freedom. Whether you're an investor, financial professional, or someone seeking more intentionality with your money, this episode offers timeless principles and practical mindset shifts.

💡 Key Takeaways:
Understanding the psychology behind money is essential for smart investing

True wealth is what you don’t see—it’s savings, not spending

Compounding requires patience and a long-term view

Clarity around what “enough” means is a shortcut to financial independence

Your financial mindset is shaped by your background and experiences

Scarcity thinking limits potential; an abundance mindset fuels growth

Investing should align with your personal values and long-term purpose

Contentment and ambition can (and should) coexist in your financial life


📚 Resources Mentioned:
The Psychology of Money by Morgan Housel

---------------

Reach out at [email protected]

Connect with Jeremiah:

LinkedIn:   / jeremiahjlee  
Email: [email protected]

Connect with Laura:

LinkedIn:   / laura-lee-59a83610  
Email: [email protected]

Connect with Randy:

LinkedIn:   / rkbarkley  
Email: [email protected]

Information and ideas discussed are general comments and cannot be relied upon as pertaining to your specific situation, do not constitute legal/financial advice, and do not create an attorney-client or fiduciary relationship. Examples discussed are fictional. You should consult your own advisor/attorney and do your own diligence prior to making any decisions. Investments involve risk and the possibility of loss, including the loss of principal. All situations are different, and results may vary. Randy Barkley is a life insurance agent CA license # 0518567 and Jeremiah Lee is a California licensed attorney and is responsible for this communication. Advisory services offered through TriCord Advisors, Inc., a Registered Investment Advisory firm.