The Psychology of Money Archives

Wise advice on The Psychology of Money

If you want to do better as an investor, the single most powerful thing you can do is increase your time horizon - Morgan Housel

The core message here is brutally simple: your greatest investing edge isn't a hot stock tip or a complex algorithm. It's patience. It's the simple, yet incredibly difficult, act of waiting.

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The Psychology of Money Quote

Long-term planning is harder than it seems, because people’s goals and desires change over time - Morgan Housel

The core idea is that we consistently underestimate how much we, and our priorities, will evolve. We make rigid plans for a person who won't exist in ten years.

Compounding works best when you can give a Meaning Factcheck Usage

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Quotes about The Psychology of Money principles

Compounding works best when you can give a plan years or decades to grow. This is true for not only savings but careers and relationships - Morgan Housel

ful in life. The real magic happens in the background, while you're busy living. [referquotes_shortcode placement="below-overview"] Table of Contents Meaning

Wisdom

Quotes about The Psychology of Money principles

Controlling your time is the highest dividend money pays - Morgan Housel

The core message here is simple but profound: the ultimate value of wealth isn't in the stuff it buys, but in the freedom and autonomy it purchases for your most limited resource, your time.

Use money to gain control over your time Meaning Factcheck Usage

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Quotes about The Psychology of Money principles

Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness - Morgan Housel

The core message here is that the ultimate luxury money can buy isn't a fancy car, but autonomy. It's the power to decide what you do, when you do it, and who you do it with.