About this episode
Doug and Carl delve into the differences between being “rich” and being “wealthy”, discussing their own journeys to financial independence and the pivotal moments when they each felt rich and then wealthy. They reflect on pieces of financial advice, how to feel wealthy, reclaiming an abundance mindset from scarcity, and the importance of evaluating personal happiness. Both also share anecdotes about their life experiences, underscoring the inherent value in simplicity and their changing perceptions on spending as their net worth increased. Are you feeling wealthy, feeling rich, or craving simplicity? If so, then simply come on over and support us at Buy Me A Coffee . Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI ) Doug & Carl will be attending the EconoMe Conference in Cincinnati, OH on March 15-17, 2024. For those interested in attending, use the coupon code MILEHIGHFI at checkout to save 10%. https://economeconference.com/ Links Morgan Housel podcast Books by Morgan Housel “The Psychology of Money” Kindle Hardcover Paperback Audiobook “Same as Ever” Kindle Hardcover Paperback Audiobook EconoMe Conference Empower (formerly Personal Capital) Pete Adeney/Mr. Money Mustache JL Collins Blog Diania Merriam on MHFI Episode 199 CampFI Mile High FI Facebook Group Doug’s site Carl’s blog: 1500 Days — Join the Mile High FI Club – It’s our email list! Get MHFi Merch – It helps support the show. Get t-shirts & more **Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals. ** Brought To You By: The Doug Show, aka Affiliate Marketing & Side Hustles 1500 Days, Carl’s Blog about Early Retirement Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Introduction 1:07 Rich vs wealthy defined 6:46 Illusion of wealth 12:33 Consumerism – experiences & experiments 20:32 Feeling rich 25:29 Feeling wealthy 30:49 Becoming comfortable with spending & feeling wealthy 35:17 The power of simplicity 40:03 Soundcheck – Freezing water