The Psychology of Money Archives

Wise advice on The Psychology of Money

The most powerful thing you can do is to stop moving the goalposts - Morgan Housel

At its core, this quote is about defining what "enough" is for you and having the discipline to stick to that definition. It's about resisting the endless cycle of wanting more the moment you achieve something.

Wisdom

Wise advice on The Psychology of Money

Good investing is not about making good decisions. It’s about consistently not screwing up - Morgan Housel

The core message here is that sustainable wealth isn't built on brilliant, flashy moves, but on the disciplined avoidance of catastrophic errors.

Wisdom

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.

Personal 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.