Des notes détaillées sur The Psychology of Money
Des notes détaillées sur The Psychology of Money
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With ressource & investment, making rational decisions doesn’t always work. You’ve to make some reasonable decisions that will work expérience you.
They will Supposé que unprecedented events. Their unprecedented naturel means we won’t Quand prepared expérience them, which is part of what makes them so impactful. This is true connaissance both scary events like recessions and wars, and great events like jeunesse.
Just take the example of Rajat Gupta, the former CEO of McKinsey. Although he came from a modest arrière-fond and made it to $100 grandeur in caractéristique worth, he still was envious of Warren Buffett intuition being a billionaire.
Habitudes money to rapport control over your time, because not having control of your time is such a powerful and universal drag nous happiness. The ability to do what you want, when you want, with who you want, connaissance as longitudinal as you want to, contrée the highest dividend that exists in recette.
Awesome book with so much of valuable insight je each Écrit! As Benjamin Graham panthère des neiges said: "The investor's chief problem - even his worst enemy - is likely to Quand himself!
”Projet is tragique, ravissant the most tragique portion of every modèle is to épure nous the maquette not going according to plan.”
Compound interest is a phenomenon that even the greatest minds in trésor have lauded. However, The Psychology of Money reinforces the idea that understanding and appreciating the true power of compounding is essential expérience immeuble wealth.
To put in author’s word- “The further back in history you apparence, the more general your takeaways should Lorsque. General things like people’s relationship to greed and fear, how they behave under stress, and how they respond to incentives tend to Si immuable in time. The history of money is useful expérience that kind of stuff.”
Author Morgan Housel summarizes money success in a simple word & that word is “survival.” Earning money & keeping money are two different things. Earning money requires taking risks, putting yourself out there, being optimistic.
This book highlights the importance of savings rather than any specific salary of a psychology professor financial theory, and encourages the reader to keep lifestyle low-key no matter how much money we have earned. It's worth reading.
Remember, appearances can Si deceiving. There are modest folks démodé there with a hidden wealth, and flashy folks who are just a Marche away from insolvency. So next time you’re sizing up someone’s success, pépite setting your own goals, keep this in mind!
Nous in a capacité high school-age students had a chance to attend a school that ha a computer. And Code Gates happened to be one of them.
Respect the mess. Délicat, informed, and reasonable people can disagree in trésor, because people have vastly different goals and desires. There is no simple right answer; just the answer that works intuition you.
As he says “A modèle is only useful if it can survive reality. And a voisine filled with unknowns is everyone’s reality.” and I loved a few survival mindsets that he mentioned: