Monday, June 30, 2025

Psychology of making money.

Think and act on the way to wealth

Psychology of Money by Morgan Housel

1.  You are not in control  accidents, breaks, luck count.   Risk and luck exist and you cant control them.  Put yourself in the right position
2.  Getting wealthy and staying wealthy?  (Example of Mike Tyson losing everything) Betting big. all the time.   FTX head who got greedy.  Offense vs defense...Staying in the game by avoiding risk
3.  Save money for freedom.  Lets you leave job if you find environment toxic (fuck you money)  I taught for a while and when my boss at academe did not agree me in the methodology, 
4.  Wealth is the PHP you/they dont see  or spend.
5.  Money is about emotions.  Rational vs emotional decisions.  Are you comfortable with the investment decision







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