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04/10/2023

St Michael's Mount Castle In England

04/10/2023
04/10/2023

10 lessons from Morgan Housel's book The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness:

1. No one's crazy. Everyone looks at money through the lens of their past experiences, and this can lead to different perspectives and behaviors when it comes to money.

2. Luck versus risk. Luck plays a significant role in our financial success, and it's important to understand the difference between good and bad luck.

3. Never enough. When rich people do crazy things, it's often because they're still chasing the next dopamine hit of making more money.

4. Getting wealthy vs. staying wealthy. Good investing is not necessarily about making good decisions. It's about making decisions that are not too bad.

5. Freedom. Controlling your time is the highest dividend money pays.

6. Man in the car paradox. No one is impressed with your possessions as much as you are.

7. Save money. The only factor you can control generates one of the only things that matter.

8. Reasonable > rational. Aiming to be mostly reasonable works better than being coldly rational.

9. Surprise. The biggest financial surprises are the ones that we don't see coming.

10. Room for error. It's okay to make mistakes. No one gets it right all the time.

Housel's book is a fascinating and thought-provoking read. It provides a unique perspective on the psychology of money and how it affects our financial decisions. If you're interested in learning more about how to improve your relationship with money, I highly recommend The Psychology of Money.

I would also add that it's important to be patient and kind to yourself on your journey to financial success. Change takes time and effort. Don't get discouraged if you don't see results immediately. Just keep learning and growing, and you will eventually reach your financial goals.

BOOK: https://amzn.to/3PsTHnw

04/10/2023
10/07/2022

دنیا کے سارے لوگ تجھے اپنے فائدے کے لئے چاہتے ہیں جبکہ تیرا اللہ تجھے تیرے فائدے کے لئے چاہتا ہے۔

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