{"id":1058,"date":"2025-10-07T07:38:04","date_gmt":"2025-10-07T07:38:04","guid":{"rendered":"https:\/\/kensmartips.com\/finance\/?p=1058"},"modified":"2025-10-07T07:38:04","modified_gmt":"2025-10-07T07:38:04","slug":"the-savings-expert-passive-income-is-a-scam-post-traumatic-broke-syndrome-is-controlling-millions","status":"publish","type":"post","link":"https:\/\/kensmartips.com\/finance\/?p=1058","title":{"rendered":"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"480\" height=\"270\" src=\"\/\/www.youtube.com\/embed\/jFlnRBO8mcg\" frameborder=\"0\" allowfullscreen><\/iframe><\/p>\n<p>Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett\u2019s hidden struggles, Elon Musk\u2019s sacrifices, money trauma and financial habits, how to invest wisely, and the psychology behind saving, spending, and success. <\/p>\n<p>Morgan Housel is a partner at Collaborative Fund, former columnist for The Wall Street Journal, and a speaker on investing, saving, spending, and financial independence. He is also the bestselling author of books, such as: \u2018The Psychology of Money\u2019 and \u2018The Art of Spending Money\u2019.<\/p>\n<p>He explains:<br \/>\n\u25fc\ufe0f Why more money rarely solves unhappiness<br \/>\n\u25fc\ufe0f How envy and social comparison drive overspending<br \/>\n\u25fc\ufe0f Why extreme wealth often comes at the cost of health and relationships<br \/>\n\u25fc\ufe0f How inflated definitions of \u201cwealth\u201d fuel endless consumerism<br \/>\n\u25fc\ufe0f Why true happiness comes from family, friends, and health &#8211; not luxury<\/p>\n<p>00:00 Intro<br \/>\n02:21 The Importance of Spending Money<br \/>\n04:31 Why Will This Podcast Make My Life Better?<br \/>\n07:42 Is There Something Wrong With Chasing Status?<br \/>\n10:14 What\u2019s the Evolutionary Basis for This Stuff?<br \/>\n15:31 There&#8217;s Always a Trade-Off<br \/>\n17:43 Saving Addiction<br \/>\n19:29 Can Money Make You Happy?<br \/>\n24:56 Are We All Stuck in a Status Game?<br \/>\n29:02 Is the &#8220;Freedom&#8221; Culture Actually Making People Unhappy?<br \/>\n31:00 Your Favorite Form of Saving Is Spending<br \/>\n33:05 Jealousy of Other People\u2019s Wealth<br \/>\n35:04 The Spectrum of Financial Independence<br \/>\n38:45 How Do People Achieve Financial Independence?<br \/>\n41:20 How Does Dopamine Factor Into All of This?<br \/>\n48:55 We&#8217;re Wired to Want More<br \/>\n54:39 People Retiring Early Tend to Wish They Hadn&#8217;t<br \/>\n55:40 Passive Income Myths<br \/>\n57:54 Ads<br \/>\n58:55 Do I Need to Know Economics for This?<br \/>\n1:04:49 What\u2019s Going On in the World?<br \/>\n1:08:43 How Wealth Inequality Is Dividing People<br \/>\n1:10:38 The Charlie Kirk Shooting<br \/>\n1:18:52 Is There a Way Back From This Divide?<br \/>\n1:23:27 What Should We Be Doing to Help?<br \/>\n1:25:16 Are You Optimistic About the Western Economy?<br \/>\n1:27:11 Favorite Chapter From the Book<br \/>\n1:32:22 Ads<br \/>\n1:34:30 Why You Should Try New Things<br \/>\n1:37:17 Are You Chasing a Lifestyle That&#8217;s Not Right for You?<br \/>\n1:40:35 Does Jack Think Steven Is Happy?<br \/>\n1:49:25 Should We Feel Guilty About Lacking Contentment?<br \/>\n1:52:37 The Relationship Between Money and Kids<br \/>\n1:55:30 The Exact Formula for Spending<br \/>\n2:01:53 Humble Bubble<br \/>\n2:03:55 Do You Have Major Regrets in Life?<\/p>\n<p>Follow Morgan:<br \/>\nInstagram &#8211; https:\/\/bit.ly\/3KllnvJ<br \/>\nX &#8211; https:\/\/bit.ly\/4pJf4lT<\/p>\n<p>You can purchase Morgan\u2019s book, \u2018The Art of Spending Money\u2019, here: https:\/\/amzn.to\/3VKPajM <\/p>\n<p>The Diary Of A CEO:<br \/>\n\u25fc\ufe0fJoin DOAC circle here &#8211; https:\/\/doaccircle.com\/<br \/>\n\u25fc\ufe0fBuy The Diary Of A CEO book here &#8211; https:\/\/smarturl.it\/DOACbook<br \/>\n\u25fc\ufe0fThe 1% Diary is back &#8211; limited time only: https:\/\/bit.ly\/3YFbJbt<br \/>\n\u25fc\ufe0fThe Diary Of A CEO Conversation Cards (Second Edition): https:\/\/g2ul0.app.link\/f31dsUttKKb<br \/>\n\u25fc\ufe0fGet email updates &#8211; https:\/\/bit.ly\/diary-of-a-ceo-yt<br \/>\n\u25fc\ufe0fFollow Steven &#8211; https:\/\/g2ul0.app.link\/gnGqL4IsKKb <\/p>\n<p>Sponsors:<br \/>\nLinkedin Jobs &#8211; https:\/\/www.linkedin.com\/doac<br \/>\nVanta &#8211; https:\/\/vanta.com\/steven<br \/>\nReplit &#8211; http:\/\/replit.com with code STEVEN<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett\u2019s hidden struggles, Elon Musk\u2019s sacrifices, money trauma [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/kensmartips.com\/finance\/?p=1058\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions! - FINANCE\" \/>\n<meta property=\"og:description\" content=\"Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett\u2019s hidden struggles, Elon Musk\u2019s sacrifices, money trauma [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kensmartips.com\/finance\/?p=1058\" \/>\n<meta property=\"og:site_name\" content=\"FINANCE\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-07T07:38:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"480\" \/>\n\t<meta property=\"og:image:height\" content=\"360\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/kensmartips.com\/finance\/#website\",\"url\":\"https:\/\/kensmartips.com\/finance\/\",\"name\":\"FINANCE\",\"description\":\"Your Best Finance Guide\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/kensmartips.com\/finance\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/kensmartips.com\/finance\/?p=1058#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg\",\"contentUrl\":\"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg\",\"width\":480,\"height\":360},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/kensmartips.com\/finance\/?p=1058#webpage\",\"url\":\"https:\/\/kensmartips.com\/finance\/?p=1058\",\"name\":\"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions! - FINANCE\",\"isPartOf\":{\"@id\":\"https:\/\/kensmartips.com\/finance\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/kensmartips.com\/finance\/?p=1058#primaryimage\"},\"datePublished\":\"2025-10-07T07:38:04+00:00\",\"dateModified\":\"2025-10-07T07:38:04+00:00\",\"author\":{\"@id\":\"\"},\"breadcrumb\":{\"@id\":\"https:\/\/kensmartips.com\/finance\/?p=1058#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/kensmartips.com\/finance\/?p=1058\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/kensmartips.com\/finance\/?p=1058#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/kensmartips.com\/finance\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!\"}]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/kensmartips.com\/finance\/?p=1058","og_locale":"en_US","og_type":"article","og_title":"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions! - FINANCE","og_description":"Morgan Housel, global expert on personal finance, shares powerful lessons on Warren Buffett\u2019s hidden struggles, Elon Musk\u2019s sacrifices, money trauma [&hellip;]","og_url":"https:\/\/kensmartips.com\/finance\/?p=1058","og_site_name":"FINANCE","article_published_time":"2025-10-07T07:38:04+00:00","og_image":[{"width":480,"height":360,"url":"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/kensmartips.com\/finance\/#website","url":"https:\/\/kensmartips.com\/finance\/","name":"FINANCE","description":"Your Best Finance Guide","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/kensmartips.com\/finance\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/kensmartips.com\/finance\/?p=1058#primaryimage","inLanguage":"en-US","url":"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg","contentUrl":"https:\/\/kensmartips.com\/finance\/wp-content\/uploads\/2025\/10\/ytb_thumb-8.jpg","width":480,"height":360},{"@type":"WebPage","@id":"https:\/\/kensmartips.com\/finance\/?p=1058#webpage","url":"https:\/\/kensmartips.com\/finance\/?p=1058","name":"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions! - FINANCE","isPartOf":{"@id":"https:\/\/kensmartips.com\/finance\/#website"},"primaryImageOfPage":{"@id":"https:\/\/kensmartips.com\/finance\/?p=1058#primaryimage"},"datePublished":"2025-10-07T07:38:04+00:00","dateModified":"2025-10-07T07:38:04+00:00","author":{"@id":""},"breadcrumb":{"@id":"https:\/\/kensmartips.com\/finance\/?p=1058#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/kensmartips.com\/finance\/?p=1058"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/kensmartips.com\/finance\/?p=1058#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/kensmartips.com\/finance\/"},{"@type":"ListItem","position":2,"name":"The Savings Expert: Passive Income Is A Scam! Post-Traumatic Broke Syndrome Is Controlling Millions!"}]}]}},"_links":{"self":[{"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=\/wp\/v2\/posts\/1058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1058"}],"version-history":[{"count":0,"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=\/wp\/v2\/posts\/1058\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=\/wp\/v2\/media\/1059"}],"wp:attachment":[{"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kensmartips.com\/finance\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}