We talk about applying mental models and first principles to make life, financial and investment decisions. Co-mods @shash2_0 & @rahulsteatime
Mar 12, 2022 • 13 tweets • 7 min read
We all desire financial security yet achieve it differently. The plans we make, and the actions we take to feel secure can vary widely.
We found 10 unconventional actions people took to build their financial security.
Intrigued? Read on
👇
Health is wealth – Research states that financial security is inextricably linked to good physical health, mental health and quality of life. Taking care of these can positively impact financial outcomes. We love @Headspace and @FitbodApp #HealthyLiving
👇 @lizandmollie
Mar 10, 2022 • 13 tweets • 7 min read
Tim Ferris @tferriss interviewed Morgan Housel @morganhousel, the renowned author of Psychology of Money, one of the most insightful books on behavioral finance.
We listened to this 3-hour podcast and here are the insights that resonated with us.
A thread ....🧵
1/ On passing wealth to kids
If you are fortunate enough to save money, make sure to pass only enough to have a safety net without giving them fuel for entitlement. As Buffet said, “Leave enough money so they could do anything, but not so much that they could do nothing”
👇
Feb 22, 2022 • 12 tweets • 3 min read
"Circle of competence" is a mental model introduced by Warren Buffet in a letter to Berkshire Hathaway shareholders in 1996. The model can be applied in many areas of life, career and investing.
So, how can you use this mental model to make great decisions? A thread... 🧵
👇
1/10
Your circle of competence represents what you really know, versus what you think you know.
The circle is surrounded by a larger circle of subjective, and often over-inflated belief in one’s understanding and ability.
