Focus more on broad patterns, less on specific individuals & case studies.
From the book - #ThePsychologyOfMoney
[A thread on my key learnings from this book]
From the book - #ThePsychologyOfMoney
[A thread on my key learnings from this book]
Doing well with money has little to do with your smartness, a lot to do with how you behave. And behaviour is hard to teach.
#ThePsychologyOfMoney 1/n
#ThePsychologyOfMoney 1/n
The hardest financial skill is getting the goalpost to stop moving.
Modern capitalism is a pro at two things: generating wealth and generating envy.
Life isn’t any fun without a sense of ‘enough’.
#ThePsychologyOfMoney 4/n
Modern capitalism is a pro at two things: generating wealth and generating envy.
Life isn’t any fun without a sense of ‘enough’.
#ThePsychologyOfMoney 4/n
#MikeTrout might compare his wealth with similar income Hedge managers. These managers might look at #WarrenBuffet, Buffet could look at #JeffBezos.
The ceiling of social comparison is so high that no one will ever hit it. This battle can never be won.
#ThePsychologyOfMoney 5/n
The ceiling of social comparison is so high that no one will ever hit it. This battle can never be won.
#ThePsychologyOfMoney 5/n
"There are many things never worth risking, no matter the potential gain"
Reputation,
Freedom & independence,
Family & friends,
Being loved by those who you want to love you,
Happiness.
The best shot of keeping these is knowing when you have 'enough'
#ThePsychologyOfMoney 6/n
Reputation,
Freedom & independence,
Family & friends,
Being loved by those who you want to love you,
Happiness.
The best shot of keeping these is knowing when you have 'enough'
#ThePsychologyOfMoney 6/n
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