omy PURE INDEPENDENCE

Morgan Housel, the New York Times Bestselling author of The Psychology of Money and Same As Ever, is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, and winner of the New York Times Sidney Award.

- Morgan House

Morgan Housel's famous quote is "Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don't see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future." Read one of his famous articles here.

A simple formula for a pretty nice life is independence plus purpose. Purpose is different for everyone. Sometimes it's family, sometimes it's community, religion, work, whatever. But independence is more universal. Our desire to be independent, why we want it, what prevents us from achieving it, and why some people sabotage their ability to have it, is such a common story across cultures and generations.

I have a parenting story: My son has always been shy. Painfully shy. At times it's adorable; at times my wife and I worry. Pre-school teachers gave up trying to get him to participate in group activities - he would sit by himself in the corner watching other kids play. He wouldn't trick-or-treat one year because the thought of knocking on a stranger's door could bring him to tears. We almost didn't make it through airport security once because he refused to tell the TSA agent his age (he was eight). But we had confidence he'd improve. And like most kids, he has.

Last week we were at a pool and he asked if he could get ice cream. I said yes, but you have to do it by yourself. You have to order it yourself, hand her the money, take the change - all of it. I'm not even going to be nearby.

“I can't do it,” he said.

“That’s OK, you don’t have to” I said.

He paused.

“But can I still get ice cream?”

“Yes, but you have to do it yourself,” I said.

Another pause.

“What if I get in trouble?” he asked.

“For what?”

“What if they tell me no because I’m a kid?”

“They won't. But even if they do, it’s fine,” I said

“You won't be in trouble.”