The Psychology of Money in 20 minutes
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Published 2023-09-13
I hope this short video inspires you to put down your phone (and social media) for a few hours and go out and grab a copy of this book for yourself.
Check out Morgan Housel’s book here
📕The Psychology of Money amzn.to/3ZdJQq1
If you are more into Audiobooks, here is a link to that. You can get two of these books for free if you sign up for a free Audible trial with the link below.
🎧Grab The Psychology of Money audiobook here on an Audible trial with 2 free books
amzn.to/3A5r32l
What is The Psychology of Money about?
You may think of money as just numbers, spreadsheets, math or an equation that needs to be solved, but the real financial decisions are made away far from calculators, around dinner tables - with ego, pride, fear and personal history.
The true nature of money is the dance between the cold arithmetic of a spreadsheet and human nature.
When it comes to money we are complicated creatures and financial success is not so much about how much you know but how you behave.
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(TIMESTAMPS)
(00:00) Financial DNA (You aren’t Crazy)
(02:51) Compound Kings (Buffett’s dirty little secret)
(05:56) Pessimism & Money
(07:40) Two Forgotten Elements (A story)
(10:18) The Key to Happiness
(11:21) Tail Events
(15:02) Beyond Bling (True Wealth VS Being Rich)
(16:30) The Real Price
(19:13) Hedonic Treadmills (enough?)
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All Comments (21)
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I typically invest half my income in stocks monthly and hold for at least five years. However, my portfolio recently experienced a significant loss of around $150k. What should I do?
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Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
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I like how you take the effort to inform your audience; after all, we're all trying to live better lives with stable finances. This is simple to do with the correct investment, modest lifestyle, and budgeting. I am grateful that I was taught early in life to strive hard for financial independence.
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Psychedelics are just an exceptional mental health breakthrough. It's quite fascinating how effective they are against depression and anxiety. Saved my life.
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It's quite shocking how few people know about the forbidden book called scarpure money
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Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
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Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you katrina susan
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I'm under pressure to grow my reserve that currently holds about $500k. I'm down by 20% already following the crash and I fear I could lose more.
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Is Blcktken300 a diamond in the rough? Let's analyze!
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It's really wonderful to come across people who freely share valuable information online. You never know what kind of knowledge you might stumble upon that could have a lasting impact on your life.
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I think Blcktken300 will be the most important project in crypto. But HBAR sounds nice too. Will buy some with my Blcktken300 earnings lmao
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As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.
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It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
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Thanks! never had donated to a channel before but the video quality, editing and content was so good that I felt the need to contribute. cheers man 🙌🏼
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Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
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“Success its not about how much you know but how you behave”
So true. -
"Financial success is not so much about how much you know, but how you behave" - truth
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Started my portfolio last year with SCHD, VOO, and VUG after watching one of your videos. In terms of share price, VOO is way up (22.25%) and VUG is waaaaay up (39.62%). Thanks for the education!
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I would be retiring or working less in 5 years, and I'm curious to know best how people split their pay, how much of it goes into savings, spendings or investments, I earn around $250K per year but nothing to show for it yet.
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Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
