I read The Psychology of Money by @morganhousel
A powerful book that will change your mindset about money.
It is modern philosophy on money and wealth generation.
Here are my 10 take-aways from this great book.
/Thread 👇 💵👇
A powerful book that will change your mindset about money.
It is modern philosophy on money and wealth generation.
Here are my 10 take-aways from this great book.
/Thread 👇 💵👇
"Plan on the plan not going according to plan." - @morganhousel
Everything goes according to plan...until it doesn't. Don't be surprised by surprises.
Everything goes according to plan...until it doesn't. Don't be surprised by surprises.
"Money’s greatest intrinsic value—and this can’t be overstated --is its ability to give you control over your time." - @morganhousel
Create wealth to create time. Time is more valuable than money.
Create wealth to create time. Time is more valuable than money.
"Wealth is what you don’t see." - @morganhousel
Don't make assumptions based on what is visible. Often the wealthiest live the simplest lives. They are the smart ones.
Don't make assumptions based on what is visible. Often the wealthiest live the simplest lives. They are the smart ones.
"In a world where intelligence is hyper-competitive and previous technical skills have become automated, competitive advantages tilt toward nuanced and soft skills—like communication, empathy, and, perhaps most of all, flexibility." - @morganhousel
Nice plug for soft skills.
Nice plug for soft skills.
"People are poor forecasters of their future selves." - @morganhousel
Other than the grave...we don't know where we are going to end up. Enjoy the journey.
Other than the grave...we don't know where we are going to end up. Enjoy the journey.
"Respect the power of luck and you’ll have a better chance of focusing on things you can actually control." - @morganhousel
Love the Stoic undertones here.
Love the Stoic undertones here.
"Save. Just save. You don’t need a specific reason to save." - @morganhousel
A lesson my father taught me long ago. Thanks dad 🙏
A lesson my father taught me long ago. Thanks dad 🙏
"Define the game you’re playing." - @morganhousel
Don't compare yourself to others unless you are sure you are playing the same game.
Don't compare yourself to others unless you are sure you are playing the same game.
"Comfortably living below what you can afford, without much desire for more, removes a tremendous amount of social pressure that many people in the modern first world subject themselves to." - @morganhousel
Living below your means is one of the most intelligent things to do.
Living below your means is one of the most intelligent things to do.
"Good decisions aren’t always rational. At some point you have to choose between being happy or being “right.” - @morganhousel
Being that our time here is limited.
Being happy > Being right
Being that our time here is limited.
Being happy > Being right
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