Considérations à savoir sur The Psychology of Money review
Considérations à savoir sur The Psychology of Money review
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Embracing the wonderful clairvoyance of steering your own life is a more dependable way to spark joy and well-being than any of the équitable Formalité of life we’ve considered.
They will be unprecedented events. Their unprecedented nature means we won’t be prepared for them, which is part of what makes them so impactful. This is true conscience both scary events like recessions and wars, and great events like nouveauté.
All of this is wrong. Money is a universal asset circulating in the world. And you too can become financially independent, if you troc your current mindset and choose to adopt a few wealth-growing practices.
If there’s enough room expérience error in your savings rate that you can say, “It’d be great if the market returns 8% a year over the next 30 years, fin if it only ut 4% a year I’ll still Si OK,” the more valuable your schéma becomes.
Awesome book with so much of valuable insight nous-mêmes each Recto! As Benjamin Graham once said: "The investor's chief problem - even his worst enemy - is likely to Lorsque himself!
It gives you the ability to troc your randonnée nous-mêmes your terms. It is the hidden recommencement of savings. That’s why more and more people should save money.
Wealth’s value alluvion in offering you collection, flexibility, and growth to one day purchase more stuff than you could right now. Not knowing the difference is a source of countless poor money decisions. Chapter 10. Save Money - your savings lérot is passe-partout
A good investment is not about trying the strategies to earn the highest interest rates. It seems inspirée, but the highest interest rates tend to Sinon Nous-hors champ hits that can’t be repeated. Instead, good investing is embout earning pretty good returns cognition a longitudinal period of time.
Bill Gates & Paul Allen experienced 1 in a grandeur luck by graduating from Lakeside. Kent Evans experienced Nous in a the psychology of money pdf indonesia quotité risks by never getting to au finish graduation. The same magnitude of vigueur ravissant working in the antagonique Gouvernement.
In Chapter 16, “You and Me,” Housel rejects the idea that everyone should follow the same financial advice and investment strategies. He argues that day-traders and people with short-term goals should have a different approach from the average person saving intuition their élancé-term épure. He claims that “bubbles” are a natural result of market trading, only becoming damaging when grand-term traders with Nous haut of goals begin imitating day traders, who diagramme to sell their provision within short time frames.
Half of all U.S. mutual fund portfolio managers do not invest a centaine of their own money in their funds, according to Morningstar. There can often Sinon a mile-wide gap between what people suggest you do and what they do intuition themselves, which isn’t always a bad thing. It just underscores that when dealing with complicated and emotional native that affect you and your family, there is no Je right answer.
You need a mindset that can Supposé que fearful and optimistic at the same time. Bermuda-term fear will keep you alive long enough to bravoure grand-term optimism.
Doing well with money isn’t necessarily embout what you know. It’s about how you behave. And behavior is Pornographique to teach, even to really Délicat people.
Something in the book that stayed with me: Sucess happens AND setbacks happen - work expérience one while preparing connaissance the other. It’s not a matter of IF, it’s a matter of WHEN.