Quotessence
Home / Authors / Morgan Housel Books

Morgan Housel Books

Author

Related Quotes

“The problem for many of us is that it is easy to find rich role models. It’s harder to find wealthy ones because by definition their success is more hidden. There are, of course, wealthy people who also spend a lot of money on stuff. But even in those cases what we see is their richness, not their wealth. We see the cars they chose to buy and perhaps the school they choose to send their kids to. We don’t see the savings, retirement accounts, or investment portfolios. We see the homes they bought, not the homes they could have bought had they stretched themselves thin. The danger here is that I think most people, deep down, want to be wealthy. They want freedom and flexibility, which is what financial assets not yet spent can give you. But it is so ingrained in us that to have money is to spend money that we don’t get to see the restraint it takes to actually be wealthy. And since we can’t see it, it’s hard to learn about it. People are good at learning by imitation. But the hidden nature of wealth makes it hard to imitate others and learn from their ways.”

WealthRichnessWealth CreationMoney Management
Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Create image

“Modern capitalism is a pro at two things: generating wealth and generating envy. Perhaps they go hand in hand; wanting to surpass your peers can be the fuel of hard work. But life isn't any fun without a sense of”

HappinessLife PhilosophyMoney Quotes
Book:The Psychology of Money by Morgan Housel & The Millionaire Next Door by Thomas J. Stanley 2 Books Collection Set
Create image

“The Battle of Long Island was a disaster for George Washington’s army. His ten thousand troops were crushed by the British and its four-hundred-ship fleet. But it could have been so much worse. It could have been the end of the Revolutionary War. All the British had to do was sail up the East River and Washington’s cornered troops would have been wiped out. But it never happened, because the wind wasn’t blowing in the right direction and sailing up the river became impossible. Historian David McCullough once told interviewer Charlie Rose that “if the wind had been in the other direction on the night of August twenty-eighth [1776], I think it would have all been over.” “No United States of America if that had happened?” Rose asked. “I don’t think so,” said McCullough. “Just because of the wind, history was changed?” asked Rose. “Absolutely,” said McCullough.”

WarHistoryLuck
Book:Same as Ever: A Guide to What Never Changes
Create image

“Go out of your way to find humility when things are going right and forgiveness/compassion when they go wrong. Because it’s never as good or as bad as it looks. The world is big and complex. Luck and risk are both real and hard to identify. Do so when judging both yourself and others. Respect the power of luck and risk and you’ll have a better chance of focusing on things you can actually control. You’ll also have a better chance of finding the right role models.”

RiskHumilityLuck
Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Create image

“Money's greatest intrinsic value - and this can't be overstated - is its ability to give you control over your time . To obtain ,bit by bit, a level of independence and autonomy that comes from upspent assets that give you greater control over what you can do and when you can do it .”

PsychologyFinance
Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Create image

“Money's greatest intrinsic value - and this can't be overstated - is its ability to give you control over your time . To obtain ,bit by bit, a level of independence and autonomy that comes from unspent assets that give you greater control over what you can do and when you can do it .”

PsychologyFinance
Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Create image

“As investor Michael Batnick says, "some lessons have to be experienced before they can be understood." We are all victims, in different ways, to that truth.”

The Psychology Of Money
Book:The Psychology of Money By Morgan Housel, You Are a Badass at Making Money By Jen Sincero, Money: Know More, Make More, Give More By Rob Moore 3 Books Collection Set
Create image

“Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money require the opposite of taking risk. It requires humility, and fear that what you've made can be taken away from you just as fast. It requires frugality and an acceptance that at least some of what you've made is attributable to luck, so past success can't be relied upon to repeat indefinitely.”

The Psychology Of Money
Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
Create image