Same as Ever

I loved Morgan Housel's "The Psychology of Money" so much that I couldn't wait to dive into his next book, "Same as Ever". Unlike typical finance books, "Same as Ever" comprises 23 short stories, each examining different life scenarios where money plays a crucial role.

A few stories and topics stick out. Like about happiness. Montesquieu's observation that "If you only wished to be happy, this could be easily accomplished; but we wish to be happier than other than people, and this is always difficult, for we believe others to be happier than we are" perfectly captures the book's essence. It reflects how people measure their well-being relative to others, turning luxuries into necessities quickly as those around them become better off.

Money's relationship to happiness is compared to the temporary pleasure drugs can offer—potentially incredible if managed well, but dangerous if used to cover up deficiencies, and disastrous when no amount satisfies.

The challenge often lies in distinguishing between high expectations, fuel motivation, and low expectations, which may feel like settling and not realizing one's potential.

It’s often hard to distinguish high expectations from motivation. And low expectations feel like giving up and minimizing your potential.         

This book highlights that achieving happiness involves managing both what you have and what you expect. Overemphasis on acquiring more while neglecting expectations, which are far more controllable, is irrational. Understanding the 'expectation game' is crucial. It’s a mental challenge, often filled with confusion and struggle, but it's a game we all play, whether we realize it or not. You might think you desire progress, but often, what you seek is the fulfillment of your expectations versus reality. As Elon Musk puts it, "Happiness is reality minus expectations. If your expectations keep rising, then reality has to keep up."

Another engaging theme in "Same as Ever" is risk, as captured by Carl Richards: "Risk is what's left over after you think you've thought of everything." Risk is often what you don't see coming. It suggests investing in preparedness, not prediction, highlighting that anticipating risk does not necessarily require knowing when it will occur.

He's good at turning complex ideas into stories that are fun and easy to relate to, making the book an enjoyable read.