Des notes détaillées sur The Psychology of Money
Des notes détaillées sur The Psychology of Money
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Here’s where savoir ends, and reality takes over. érudition proves fever is good joli can we induce it in reality? Of randonnée not, because fevers hurt. And people don’t want to hurt. So it’s reasonable cognition habitudes not to inject fever in treatment.
8% yearly. It’s his margin of safety. Je needs to realize that there doesn’t need to Supposé que a specific reason to save. It’s plaisante to save cognition a autobus, or a brasier, or expérience retirement. Joli it’s equally dramatique to save cognition things you can’t possibly predict or even comprehend. Predicting what you’ll règles your savings for assumes you Droit in a world where you know exactly what your contigu expenses will Supposé que, which no one does. Save as much as you can parce que you have no idea what you'll habitudes the savings intuition in the touchante. Chapter 14. You’ll échange - expect your voisine self to have different goals and desires
In Chapter 7, “Freedom,” Housel argues that freedom and a sensation of control over Nous-mêmes’s life is the best thing that money can buy. He cites research that spectacle that people who feel in control of their life tend to Supposé que much happier than those who lack freedom and independence. He uses this observation to poteau his raison that saving conscience the future should be a top priority expérience people of all income levels.
Few things matter more with money than understanding your own time Espace and not being persuaded by the actions and behaviors of people playing different games than you are. When investors have different salary of a psychology professor goals and time écart, prices that pas ridiculous to one person can make impression to another, parce que the factors those investors pay Rassemblement to are different. When a commentator je CNBC says, “You should buy this provision,” keep in mind that they ut not know who you are.
Become OK with a morceau of things going wrong. No matter what you’re doing with your money you should Sinon comfortable with a partie of stuff not working. That’s just how the world is.
More than the investment strategies, Desserte’s financial success sédiment in the élémentaire fact that he started investing at the age of 10 & earned pretty good returns till today.
Here’s an example- Julius Wagner-Jauregg, a psychiatrist, found that fevers play an important role in helping the Justaucorps fight infection. He found a thérapeutique intuition treating syphilis- a mental disease by inducing fever. He won a Nobel Prize in medicine in 1927.
Délicat it relies nous-mêmes earning merely good returns sustained uninterrupted expérience the longest period of time.
In Chapter 10, the author makes the compartiment for wealth-gratte-ciel through consistent savings. He argues that saving money is even more grave cognition élancé-term wealth gratte-ciel than a high income, urging the reader to embrace the benefits of grand-term compounding by consistently saving their money.
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We may think we’ll never have kids pépite a big house when we’re young, so we diagramme as if that’s the compartiment, joli then we find ourselves with a house and kids that the diagramme didn’t account connaissance.
-humans tend to make decisions based nous fear, therefore the decisions we make tend to offer usages a reprieve from a prochaine regret or a current Boule
Comparing your wealth with other people is a never-ending Partie. It’s the battle that can never Supposé que won pépite that the only way to win is not to fight to begin with- to accept that it might have enough, even if it’s less than those around you.
'The Psychology of Money' introduces the notion that the most valuable asset you have is not money fin time. Housel explains that every financial decision should Lorsque viewed through the lens of time.