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Alex & Books 📚 Profile picture
@AlexAndBooks_
Aug 28, 2021 • 16 tweets • 5 min read • Read on X
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"The Psychology of Money" by @morganhousel has:

• 14,000+ reviews on Amazon
• 26,000+ reviews on Goodreads
• 500,000+ copies sold worldwide

Here are 12 of my favorite quotes from it:
"Your personal experiences with money make up maybe 0.000000001% of what's happened in the world, but maybe 80% of how you think the world works."
"$81.5 billion of Warren Buffett's $84.5 billion net worth came after his 65th birthday. Our minds are not built to handle such absurdities."
"Good investing is not necessarily about making good decisions, it's about consistently not screwing up."
"Controlling your time is the highest dividend money pays."
"The highest form of wealth is the ability to wake up every morning and say, 'I can do whatever I want today.' "
"No one is impressed with your possessions as much as you are."
"You might think you want a fancy car or a nice watch. But what you probably want is respect and admiration. And you're more likely to gain those things through kindness and humility than horsepower and chrome."
"Spending money to show people how much money you have is the fastest way to have less money."
"The most important part of every plan is planning on your plan not going according to plan."
"Everything has a price, but not all prices appear on labels."
"Beware taking financial cues from people playing a different game than you are."
"If you want to do better as an investor, the single most powerful thing you can do is increase your time horizon. Time is the most powerful force in investing."
Enjoyed this thread?

1) Follow @AlexAndBooks_ for more book reviews & recs

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TL;DR of "The Psychology of Money"

-Everyone's experience with money is unique
-Compounding is the most powerful force in investing
-Controlling your time is the highest dividend money pays
-Wealth is what you don't see
-Getting wealthy & staying wealthy are two different games
Want to dive deeper into Morgan's book?

Check out my podcast with him here:

(It's my most popular podcast episode to date)

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More from @AlexAndBooks_

Alex & Books 📚 Profile picture
Dec 9
This is @jimkwik.

He went from being the "boy with the broken brain" to reading 1,000+ books and selling 1,000,000+ copies of his book "Limitless."

Here's his F.A.S.T.E.R. method for getting the most out of any book: Image
F is for Forget

Forget what you already know about the subject.

If you think you already know everything about a subject, you won't be interested or open to absorbing new information.

Start every book with an open mind instead of a closed one.
A is for Act

Learning is not a spectator sport–be an active reader, not a passive one.

When reading a book, highlight key lessons, write down ways you can apply those lessons, and then go out and take action on them.

The more action you take, the more you'll get from the book.
Read 9 tweets
Alex & Books 📚 Profile picture
Nov 26
10 Insightful Book Summary Mindmaps:

1) “The Psychology of Money” by @morganhouselImage
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2) "The Subtle Art of Not Giving A F*ck" by @IAmMarkManson Image
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3) "Atomic Habits" by @JamesClear Image
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Alex & Books 📚 Profile picture
Nov 19
This is @jimkwik.

He went from being the "boy with the broken brain" to reading 1,000+ books and selling 1M+ copies of his book "Limitless."

Here are 11 tips to help you read books faster and better: Image
1) Use A Visual Pacer

Use a pen or your finger to follow the words that you're reading.

This technique can help you read 25-70% faster.

Your eyes are naturally attracted to motion, so your reading speed will increase when you use a visual pacer.
2) Skip Small Words

Learning how to read faster is all about eliminating the small, unnecessary words that fill up a page.

When we’re trying to read quickly, we can often skip these words with no ill effects: “if,” “is,” “to,” “the,” and “and.”
Read 13 tweets
Alex & Books 📚 Profile picture
Nov 11
Before Napoleon was a leader, he was a reader.

He read everything he could get his hands on–history, philosophy, politics, etc.

Here are the 10 books that influenced him the most: Image
1) "Lives" by Plutarch

Napoleon discovered this book when he was 9 years old.

From it, he learned about two legendary figures–Alexander the Great and Julius Caesar.

From that point on, Napoleon dreamed of following in their footsteps of military glory and leadership. Image
2) "Julie" by Rousseau

Napoleon's early readings of Rousseau shaped his politics, philosophy, emotional infrastructure, and writing ambitions.

Napoleon copied Rousseau's writing style, wrote similar books to his, and used his books as a template for his love letters. Image
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Alex & Books 📚 Profile picture
Oct 30
7 Strategies that will make you a better reader:

(from bestselling author @RyanHoliday) Image
1) Stop Reading Books You Aren’t Enjoying

You turn off a TV show if it’s boring. You stop eating food that doesn’t taste good. You unfollow people when you realize their content is useless.

Life is too short to read books you don’t enjoy reading.

My rule is 100 pages minus your age. Say you’re 30 years old—if a book hasn’t captivated you by page 70, stop reading it.
2) Keep A Commonplace Book

In his book, Old School, Tobias Wolf’s semi-autobiographical character takes the time to type out quotes and passages from great books to feel great writing come through him.

I do this almost every weekend in what I call a “commonplace book”— a collection of quotes, ideas, stories and facts that I want to keep for later. It’s made me a much better writer and a wiser person.
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Alex & Books 📚 Profile picture
Oct 25
This is @katy_milkman.

She has a PhD from Harvard, is a professor at Wharton, and has spent her life studying behavior change.

Here are 10 key lessons from her bestselling book "How To Change": Image
1) An ideal time to change your behavior is after a fresh start (new year, month, week, birthday, etc). Image
2) Making smaller and more frequent commitments is more effective than making larger but less frequent ones.

Saving $5 per day > Saving $1,825 per year Image
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