Avoid These Money Mistakes to Get Rich (ft. $1 Billion Fund Manager)

He didn’t go to high school. He valeted Ferraris he couldn’t afford. Now he’s one of the most trusted money minds in the world. In this episode of The Burnouts, bestselling author and VC partner Morgan Housel joins Phoebe Gates and Sophia Kianni for a conversation that will completely rewire how you think about wealth, ambition, and what “enough” actually means. He shares how fear—not ambition—drove him to work two full-time jobs at 19, save every dollar like the apocalypse was coming, and obsess over flashy cars as a way to feel worthy. They unpack why most people are playing the wrong financial game, why trying to “beat the market” backfires, and why some of the richest people you know still feel broke inside. Also: dating while broke, how having a kid ended his materialism overnight, and the one expensive gift he regrets buying to impress his now-wife. This is the money education you should’ve gotten—but probably didn’t. It’s about psychology, not spreadsheets. Scarcity, not flexing. And no, you’re not the only one faking it.