The difference between getting wealthy and staying wealthy

Aden Wilkins and David Andrew explore the psychology behind financial decision-making, drawing insights from Morgan Housel’s award-winning book, The Psychology of Money. They discuss key concepts such as why no one’s financial mindset is irrational, the difference between getting wealthy and staying wealthy, and why true wealth is often invisible. 

They also explore how different people play different financial games, emphasising the importance of understanding your own financial journey rather than comparing it to others. This episode is packed with practical wisdom on smart money habits, avoiding common pitfalls, and making financial decisions that align with your goals.

• (5:00 - 10:00) No one’s crazy – How experiences shape financial behaviour
• (10:00 - 16:00) Getting wealthy vs. staying wealthy – Different skills required
• (16:00 - 22:00) Wealth is what you don’t see 
• (22:00 - 26:00) Why comparisons can be misleading
• (26:00 - 32:00) Investment mindsets and risk tolerance

Resources: 

The Psychology of Money: Timeless lessons on wealth, greed, and happiness : Housel, Morgan: Amazon.com.au: Books

For more information on Capital Partners visit capital-partners.com.au.

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This episode provides general advice only. Always refer to your financial adviser for advice about your personal circumstances.

Capital Partners Consulting Pty Ltd AFSL 227148 trading as Capital Partners Private Wealth Advisers ABN 27 086 670 788.