Psychological
Why rich and wealthy aren't the same thing
Someone driving a $200,000 car might have less actual money than someone driving a Honda. Being rich means you have a high income right now. Being wealthy means you have money you haven't spent yet.
Wealth is what you don't see. It's the cars not purchased, the clothes not bought, the first-class upgrade declined.— Morgan Housel
The full breakdown — the context, the shift, and a question to sit with — opens in the Insights app.
The thinker
Financial Writer & Behavioral Finance
Morgan Housel is a partner at The Collaborative Fund and author of The Psychology of Money, one of the best-selling finance books of the past decade.
Based on Morgan Housel: The Psychology of Money, summarised and reframed by Insights.
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