‘Psychology of Money’ author Morgan Housel follows the same morbid success measure as Warren Buffett—a “reverse obituary” | Fortune

Behavioral Finance Expert Morgan Housel Follows Warren Buffett's Unconventional Success Measure In a unique approach to measuring success, behavioral finance expert Morgan Housel has adopted the practice of writing his own "reverse obituary," a concept that echoes the philosophy of legendary investor Warren Buffett. This morbid yet effective exercise involves writing what one would like their obituary to say and then striving to live up to those expectations. Housel, author of the bestselling book "The Psychology of Money," revealed this approach in an interview with Fortune, stating, "It's a little bit morbid, but it's to write what you want your obituary to say, and then try to live your life up to that." This sentiment is not new, as Buffett has long credited his right-hand man, Charlie Munger, who passed away in 2023, with instilling many of his life philosophies. The concept of writing a reverse obituary has gained traction globally, particularly among entrepreneurs and business leaders. In Asia, where the emphasis on family and community is strong, this approach resonates deeply. "In many Asian cultures, the idea of leaving a lasting legacy is deeply ingrained," said Dr. Lee, a Singapore-based psychologist. "Writing a reverse obituary can be a powerful tool for individuals to reflect on their values and priorities." Housel's book, "The Art of Spending Money," delves into the psychology behind spending and saving, offering practical advice for individuals seeking to live more fulfilling lives. His approach to measuring success is just one aspect of this comprehensive guide. As Housel continues to share his insights with a global audience, his message is clear: success is not solely measured by material wealth or external validation. Rather, it is about living a life that aligns with one's values and priorities. Background Morgan Housel's work in behavioral finance has made him a respected voice in the industry. His bestselling book "The Psychology of Money" offers a unique perspective on personal finance and investing. The concept of writing a reverse obituary, while unconventional, has gained traction among individuals seeking to redefine their approach to success. Global Context In many cultures around the world, the emphasis is placed on leaving a lasting legacy. In Asia, for example, family and community ties are strong, and individuals often prioritize building a reputation that will outlast them. This mindset is reflected in Housel's approach to measuring success. Current Status Housel's book "The Art of Spending Money" continues to gain attention globally, with readers seeking practical advice on managing their finances and living more fulfilling lives. As his message spreads, individuals are beginning to reevaluate their definition of success. Next Developments As Housel continues to share his insights, it remains to be seen how this approach will shape the global conversation around personal finance and success. One thing is certain: by challenging traditional notions of success, Housel's work has sparked a much-needed discussion about what truly matters in life. *Reporting by Fortune.*