Posted inWisdom

Wise advice on The Psychology of Money

Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risk - Morgan Housel
The core message is that the skills needed to acquire wealth are fundamentally different from the skills needed to preserve it. One is about boldness, the other is about caution.
Posted inWisdom

Wise advice on The Psychology of Money

The most important part of every plan is planning on the plan not going according to plan - Morgan Housel
At its core, this quote means that the true value of planning isn't in creating a perfect, linear path, but in building a robust system that can withstand the inevitable deviations from that path.
Posted inWisdom

Wise advice on The Psychology of Money

There is no reason to risk what you have and need for what you don’t have and don’t need - Morgan Housel
At its heart, this quote is a powerful reminder to protect your foundation. It's about understanding the real, asymmetric cost of gambling what's essential for a shot at something that's merely desirable.
Posted inWisdom

Quotes about The Psychology of Money

Risk is what’s left over when you think you’ve thought of everything - Morgan Housel
At its core, this quote means that true risk isn't the list of dangers you can anticipate; it's the unforeseeable event that emerges precisely because you were so confident in your own preparation.
Bill Gates once said Success is a lousy Meaning Factcheck Usage
Posted inWisdom

The Psychology of Money Quote

Bill Gates once said, "Success is a lousy teacher. It seduces smart people into thinking they can’t lose." - Morgan Housel
The core message is that winning can make you overconfident and blind to the role of chance, setting you up for a much harder fall later.
Posted inWisdom

Wise advice on The Psychology of Money

Studying a specific person can be dangerous because we tend to study extreme examples — the billionaires, the CEOs, or the massive failures — and extreme examples are often the least applicable to other situations - Morgan Housel
This quote warns us that focusing on extreme outliers, whether massive successes or failures, gives us a distorted view of reality that is almost useless for our own lives.
Posted inWisdom

The Psychology of Money Quote

Every financial decision a person makes, makes sense to them in that moment and checks the boxes they need to check - Morgan Housel
At its core, this quote strips away the judgment we so often place on financial choices. It argues that every money move, no matter how irrational it seems from the outside, is the result of a person's unique internal logic and emotional needs in that specific moment.
Posted inWisdom

The Psychology of Money Quote

Progress happens too slowly to notice, but setbacks happen too quickly to ignore - Morgan Housel
The core message is about the fundamental asymmetry in how we experience progress versus failure. Growth is a quiet, cumulative process, while loss is a loud, immediate event.
The ability to do what you want when Meaning Factcheck Usage
Posted inLife

The Psychology of Money Quote

The ability to do what you want, when you want, with who you want, for as long as you want, is priceless - Morgan Housel
This quote cuts straight to the heart of what true wealth really is: it's the control over your own time and choices, not just the number in your bank account.
Posted inWisdom

Quotes about The Psychology of Money

Wealth is what you don’t see. It’s the cars not bought, the diamonds not purchased, the watches not worn, the clothes forgone and the first-class upgrade declined - Morgan Housel
The quote flips the script on how we define wealth. It argues that real wealth isn't the visible status symbols you buy, but the invisible financial security you build by *not* buying them.
Posted inPersonal Development

Wise advice on The Psychology of Money

There are a million ways to get wealthy, and plenty of books on how to do so. But there’s only one way to stay wealthy: some combination of frugality and paranoia - Morgan Housel
Getting rich is about offense, taking risks, seizing opportunities. Staying rich is purely about defense. It’s a completely different game, played with a different set of rules.