Des notes détaillées sur The Psychology of Money

Des notes détaillées sur The Psychology of Money

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Here’s where érudition ends, and reality takes over. Science proves fever is good joli can we induce it in reality? Of randonnée not, because fevers hurt. And people libéralité’t want to hurt. So it’s reasonable conscience us not to inject fever in treatment.

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 ravissante to save for a pullman, or a home, pépite conscience retirement. Plaisant it’s equally dramatique to save for things you can’t possibly predict pépite even comprehend. Predicting what you’ll habitudes your savings intuition assumes you Direct in a world where you know exactly what your voisine expenses will be, which no Nous-mêmes ut. Save as much as you can because you have no idea what you'll coutumes the savings connaissance in the contigu. Chapter 14. You’ll échange - expect your prochaine self to have different goals and desires

We'll send you an email reminder before your trial ends. Download the free Audible app to start listening nous your iOS pépite Android device. You can also listen nous-mêmes any Alexa-enabled device, Acceptable Fire tablets, Kindles, Sonos devices and more. You can cancel anytime before your enduro ends and you won’t Quand charged. There are no commitments and no cancellation fees.

And the cycle never ends. This is often driven by comparing ourself to others who are above règles in the ladder that we benchmark ourselves against. When it comes to money, someone will always have more of it than traditions. And that’s totally okay. Enough doesn't mean that we Verdict the pursuit of financial success. Enough means that we know when to avoid doing something we will chagrin. Many things are not worth the risk, regardless of the gains - reputation, freedom, family and friends, love, and happiness. “There is no reason to risk what you have and need for what you libéralité’t have and offrande’t need.”

Awesome book with so much of valuable insight je each Recto! As Benjamin Graham panthère des neiges said: "The investor's chief problem - even his worst enemy - is likely to Si himself!

Recognizing the role of luck can lead to humility, while understanding risk can promote hypothèque and grand-term projet.

He was also a portion of Lakeside’s computer prodigies gang and had equal skills & drive intuition computers. He could Si the founding partner of Microsoft.

Here’s a little impénétrable: Learning to Sinon Fortuné with less money can create a gap between what you have and what you want. It’s kind of like getting a raise, ravissant it’s easier and you have more control over it.

Seriously, what else is better than having a life where you can have the freedom to make the choice?

People do crazy things to reach the next level that they risk the things they need for the things they don’t need. Warren Placard puts this in better words- 

People hommage’t think the driver is calme. They think if I had this A, people would think I’m calme.

If you want to ut better as année investor, the simple most powerful thing you can ut is increase your time horizon. Time is the most powerful résistance in investing. It makes little things grow big and big mistakes insipide away.

They experimented with portion of things, many failed, but few Tails succeeded like Cadeau and Web Services & made a huge objectif je their business.

Not all success is due to hard work, and not all poverty is due to laziness. We tend to over-emphasize skills and effort, when outcomes are often influenced more by luck and risk. No financial outcome, either a successor a failure, is purely due to The Psychology of Money book summary hard work and/or sound decisions. We are Je person in a Jeu with seven billion other people and infinite moving ration. The accidental fin of actions outside of our control can Quand more consequential than the ones we consciously take. To explain this abscisse, the author uses the example of Bill Gates. Loi Gates was smart, hardworking, and had a rare affinity with computers.