How the Pandemic Changed the Way We Spend and Invest

When generations undergo any kind of collective life-changing event, it shapes how people think about money -- and how they think about spending and investing. Past upheavals like the Great Depression, the inflation of the 1970s, and Weimar-era hyperinflation, had profound effects on the cohorts that lived through them. So what will be the effect of the pandemic on current generations? And what is the combined effect on people who lived through the pandemic, the Great Financial Crisis, and 9/11 in a span of less than 20 years? On this episode, we speak to Morgan Housel, personal finance expert and author of the bestselling book The Psychology of Money, on the lasting impact from these recent societal disruptions. This transcript has been lightly edited for clarity.