Podcast Summary: "What We Spend" - Episode: "I Try to Be Transparent About My Level of Privilege"
Introduction
In the July 30, 2025 episode of What We Spend, hosted by Courtney Harrell, the conversation centers around Morgan, a 41-year-old consultant who openly discusses her financial life, privilege, and the impact of generational wealth on her current lifestyle. This episode delves deep into Morgan's transparent approach to sharing her financial status, the reactions it elicited, and her philosophy on money and privilege.
Morgan’s Background and Current Lifestyle
Morgan describes herself as a full-time traveler residing temporarily in various locations, currently spending the ski season in Bend, Oregon. She operates as a consultant—a role encompassing business coaching, life coaching, marketing consulting—as well as a yoga teacher, writer, and influencer. Unlike many guests on the show, Morgan's financial stability is largely supported by generational wealth, allowing her to focus more on the life she desires rather than strictly on income generation.
Social Media Transparency Post
A pivotal moment in the episode is Morgan's decision to post a candid admission of her financial privileges on social media. Courtney asks Morgan to share the original post:
"I try to be transparent about my level of privilege. My parents paid for my college and rent. They gave me $100,000 for my first house purchase and $150,000 for my second. I regularly get five-figure checks from other family members. The moment I walked into my grandma's house, she handed me $1,000 cash. I don't post this to brag. I post this to remind you that the system is rigged for generational wealth and that my success stems directly from that privilege." ([04:13])
Morgan explains that the post was a response to another individual who falsely marketed their success as self-made without acknowledging their generational wealth. Her aim was to counteract misleading narratives and highlight the often-overlooked advantages afforded by her family's financial support.
Reactions and Impact
The transparency post quickly amassed 2.8 million views and sparked a mix of supportive and hostile reactions. Morgan recounts:
"The vast majority of people were very supportive of me sharing this information. I've blocked a lot of the hater comments at this point, but it did attract several hundred, if not thousand, comments worth of people telling me what a piece of shit I am." ([06:06])
Despite the backlash, Morgan maintained her stance by offering free business coaching to those reaching out, emphasizing her commitment to using her privilege to assist others.
Morgan's Financial Strategy and Investment
Morgan's financial independence is primarily sustained through her investments and inherited wealth. She details her investment approach:
"I have multiple investment accounts, so I check them all every day, and I'm looking for upswings and downswings. Typically, if I've made a 10% gain, I'll sell a certain percentage of it. I'm still maintaining my core investment, but I'm skimming off the top to fund my life so that my investment portfolio doesn't stagnate." ([07:45])
Her investment portfolio includes money received from her grandparents, amounting to around $300,000, with additional funds expected later. This inheritance grants her the flexibility to live without the immediate pressure of earning a traditional income.
Reflection on Privilege and Generational Wealth
Morgan candidly addresses the role of privilege in her life:
"I try to be very clear like, no, I'm not a self-made woman. I had a lot of privilege. You do. I've attracted a lot of wealth." ([27:57])
She acknowledges that her ability to live a non-traditional lifestyle—such as traveling full-time and living minimally—is heavily influenced by her financial background. Morgan emphasizes the importance of recognizing one's privilege and using it responsibly to foster transparency and support others.
Week's Overview and Spending Diary
Morgan shares an audio diary detailing her spending over a week, highlighting minimal expenses despite an active and fulfilling lifestyle. Key points include:
- Day 1: Spent $442.56 on car insurance and business subscriptions while driving from Reno to Twin Falls, Idaho.
- Day 2: Encountered a minor incident at a gas station but incurred no significant costs, totaling $81.97.
- Day 3: Achieved a zero-dollar spend day by skiing and utilizing her existing resources.
- Day 4: Generated income through app licensing and received small payments from Facebook, maintaining a spend of $0.
- Day 5: Spent $20.99 on groceries while enjoying a day of skiing with friends who generously shared expenses.
- Day 6: Paid $460.33 for group expenses at a lodge, benefiting everyone involved.
- Day 7: Transferred $5,000 from investments to her checking account in preparation for upcoming travel, totaling $1,210 for the week.
Morgan's Philosophy on Money and Abundance
Morgan explores the mindset of abundance versus mere accumulation of wealth:
"True security comes from the confidence that if you needed to make a thousand dollars tomorrow, you could make it. Not from I've hoarded all this wealth and now I don't have to worry about it anymore." ([41:19])
She advocates for leveraging existing resources to live a fulfilling life without constantly chasing financial gains. Morgan highlights her ability to gamify financial strategies, such as travel hacking, to enhance her lifestyle without excessive spending.
Final Reflections and Conclusion
In concluding the episode, Morgan addresses the notion that financial strategies and lifestyle choices are deeply intertwined with privilege. She asserts:
"It is a responsibility as someone with privilege to be transparent about it. I feel very strongly about that and also to help people as I can, whether that's sharing knowledge or whether that's sharing money." ([27:57])
Morgan emphasizes that while her financial freedom enables her to live unconventionally, it is her privilege that allows her to make such choices. She underscores the importance of using one's advantages to foster transparency and support within the community.
Conclusion
This episode of What We Spend provides a profound exploration of how privilege and generational wealth shape one's financial decisions and lifestyle. Morgan's candidness about her advantages and her commitment to using them responsibly offers listeners valuable insights into the complexities of financial transparency and the ethical considerations of sharing wealth.