2. One can be wealthy without superior intelligence of financial education. You just need right behavioral skills.
20 Timeless Financial Lessons from the book:
"THE PSYCHOLOGY OF MONEY"
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2. One can be wealthy without superior intelligence of financial education. You just need right behavioral skills.
You can make good decisions that lead to poor financial outcomes vice-versa.
4. Saying “enough” is realizing that an appetite for more will push you to the point of regret.
6. Buying impressive items to gain admiration & respect from others is a fool’s pursuit~ These things can not be bought.
Once you have more money & power. It's easy to get lost in ambition so stick to your goal.
8. There are certain things which are never worth taking a risk like Character, Family, Friends & Freedom, Happiness.
That's when compounding turns wild.
10. Earning good money & keeping that money are two different areas of expertise.
Most people fail in one or the two skills.
No one makes good decisions all the time.
You should always leave room for error when estimating your future returns.
You should market volatility as a fee rather than a fine.
If you can do this, you are more likely to stay in the game long enough for investment gains to work for you.
14. Rich is the current income. Wealth is income not spent. Wealth is hard because it requires self-control.
16. The highest form of wealth is the ability to wake up every morning and say, ‘I can do whatever I want today.
There will always be unprecedented events, for which we will never be prepared, and therefore, will have a massive impact on how the world operates.
Humility, kindness & empathy will bring you more respect than horsepower ever will.
19. Having more control over your time & options is one of the most valuable currencies in the world.