You're not a reasonable person, you might be rational. But is the market rational? Not even close. So, does it pay to be reasonable or rational? Housel says it's the former - be reasonable my friend. That'll help you more than anything in these volatile markets. Investing is more to do with psychology even if finances is purely mathematical. When stuff hits the fan, you won't be rational, looking at spreadsheets and charts. You'll be worried about your future and blame your past. This is a podcast on how to deal with finance reasonably even if it's not rational.
If there's any way I can improve, let me know.
Buy the book here: https://amzn.to/3ERgi6j (Affiliate link)
Check out my Twitter: https://twitter.com/Aakash_Tries
---
Aakash
#books
#investing #personalfinance
12 Dec 2021
Books on Money | The Psychology of Money Ep. 11
Rule number one of any book on money is: SAVE. Saving money is more important that people give it credit. More than earning more or investing. The importance of the bridge between Income and Investment is Saving. Here's what we cover:
1. Building wealth has more to do with your savings
2. The value of wealth is relative to what you need
3. Past a certain level of income, what you need is just what sits below your ego
4. People's ability to save is more in their control than they think
5. You don't need a specific reason to save
6. Unseen return on wealth: The flexibility and control over your time
7. Hidden returns are more important
If there's any way I can improve, let me know.
Buy the book here: https://amzn.to/3ERgi6j (Affiliate link)
Check out my Twitter: https://twitter.com/Aakash_Tries
---
Aakash
#books
#investing #personalfinance
28 Nov 2021
Books on Money | The Psychology of Money Ep. 10
What's the difference between being wealthy and rich? Being wealthy is hidden and dynamic, being rich is out in the open and static. If you bought a car for $100,000, you're richer by $100,000, but you're less wealthy by $100,000. That's the lesson in this chapter of Morgan Housel's book. We only see richness, we never see wealth. But if you look deep enough you see the sacrifices that led to riches, those sacrifices are true wealthy.
If there's any way I can improve, let me know.
Buy the book here: https://amzn.to/3ERgi6j (Affiliate link)
Check out my Twitter: https://twitter.com/Aakash_Tries
---
Aakash
#books
#investing #personalfinance
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