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The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness

Book by Morgan Housel · 17 quotes · The Psychology Of Money, Money, Finance

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The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness 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.”

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Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
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“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.”

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Book:The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness
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“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
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“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
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“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
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