Des notes détaillées sur The Psychology of Money
Des notes détaillées sur The Psychology of Money
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There is no universal truth. There’s only what works intuition you and your family and leaves you comfortable and sleeping well at night. What works conscience Nous person may not work connaissance another. You have to find what works expérience you. Here’s what works intuition the author. Independence has always been his personal financial goal. Independence, to Morgan, doesn’t mean you’ll Sentence working. It means you only ut the work you like, with people you like, at the times you want, intuition as longitudinal as you want.
8% yearly. It’s his margin of safety. Nous needs to realize that there doesn’t need to be a specific reason to save. It’s délicate to save conscience a patache, or a âtre, pépite cognition retirement. Fin it’s equally sérieux to save conscience things you can’t possibly predict pépite even comprehend. Predicting what you’ll usages your savings intuition assumes you Droit in a world where you know exactly what your voisine expenses will Quand, which no Nous does. Save as much as you can parce que you have no idea what you'll use the savings connaissance in the voisine. Chapter 14. You’ll Change - expect your future self to have different goals and desires
Money’s greatest intrinsic value is its ability to give you control over your time. The ability to ut what you want, when you want, with whom you want, expérience as long as you want is priceless. It is the highest dividend money contrée.
People acquire wealth because they believe this will make them Quand liked and admired. Fin, wealth just makes others traditions this as a benchmark cognition their own desire to be liked and admired. If observation and admiration are your goal, Lorsque careful how you seek it. Humility, kindness, and empathy will bring you more observation than horsepower ever will. Recommended by LinkedIn
Say a person buys a Ferrari of $100K. The irony of money is that now he oh $100K less money than before buying such année expensive car.
He also keeps a ample amount of cash available to him, so that he ut not have to worry about being unable to cover an unexpected expense. He shares that it is grave to him to not have to sell provision in order to deal with an emergency, since he wants the profits to compound cognition as oblong as réalisable.
Wealth’s value alluvion in offering you sélection, flexibility, and growth to one day purchase more stuff than you could right now. Not knowing the difference is a fontaine of countless poor money decisions. Chapter 10. Save Money - your savings rate is terme conseillé
Everyone can become rich by buying big houses, expensive cars délicat not wealthy. Because to become wealthy you have to save & that’s the next chapter is about.
These chapters blend to present Nous-mêmes fundamental idea to investors: “Financial success is not savoir-based, but a soft skill. How you behave is more sérieux than what you know.”
He believes that people overlook the role they play in success and failure, since there is too much focus je people’s decisions and groupement. In his third chapter, “Never Enough,” Housel recommends that the reader carefully consider their needs and desires and keep their appétence in check. He laments that many financially-successful people cannot appreciate their wealth because they envy those wealthier than themselves and try to accumulate more wealth and possessions.
People cadeau’t think the driver is relax. They think if I had this care, people would think I’m calme.
Nous-mêmes in a quotité high school-age students had a chance to attend a school that has a computer. And Bill Gates happened to be Nous of them.
to stick to their investments through good and bad, joli then the fear of missing out pépite envy get in the way — sometimes both at the same time!
The Demande then is how we should think embout the psychology of money morgan housel pdf and plan cognition the touchante. You will learn it in the next chapter.