๐ฑ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐ข๐ป๐ฒ ๐ผ๐ณ ๐ ๐ ๐๐น๐น-๐ง๐ถ๐บ๐ฒ ๐๐ฎ๐๐ผ๐ฟ๐ถ๐๐ฒ ๐๐ผ๐ผ๐ธ๐ ๐๐ฏ๐ผ๐๐ ๐ ๐ผ๐ป๐ฒ๐
If you haven’t yet read ๐ป๐๐ ๐ท๐๐๐๐๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐ by Morgan Housel–you need to.
My first time reading this book, it was hard to put down. Housel is a great storyteller, and he gets into the mindset of why we do what we do with money.
As I put together this infographic, it could have easily turned into my 12 or 13 favorite takeaways, because the book is full of golden nuggets of truth.
๐ ๐ฃ๐๐ง๐ง๐ค๐ฌ๐๐ ๐๐ฉ ๐๐ค๐ฌ๐ฃ ๐ฉ๐ค ๐ข๐ฎ 5 ๐๐๐ซ๐ค๐ง๐๐ฉ๐ ๐๐๐ ๐๐๐ฌ๐๐ฎ๐จ:
โฑ ๐ง๐ถ๐บ๐ฒ ๐ถ๐ ๐ฌ๐ผ๐๐ฟ ๐๐ฟ๐ฒ๐ฎ๐๐ฒ๐๐ ๐๐น๐น๐:
The longer your money has time to grow through compounding, the greater the impact. Start investing early and focus on long-term goals rather than short-term gains.
โ ๐๐ผ๐ฐ๐๐ ๐ผ๐ป ๐ช๐ต๐ฎ๐ ๐ฌ๐ผ๐ ๐๐ฎ๐ป ๐๐ผ๐ป๐๐ฟ๐ผ๐น:
Financial markets and economic events can be unpredictable. Don’t get caught up in chasing trends or worrying about things outside your control. Focus on your behavior, saving habits, and making sound investment decisions.
โ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฟ๐ฒ๐ฒ๐ฑ๐ผ๐บ ๐ถ๐ ๐๐ต๐ฒ ๐ง๐ฟ๐๐ฒ ๐๐ผ๐ฎ๐น:
Wealth isn’t just about having a lot of money. It’s about having the freedom to pursue your passions and live life on your own terms. Define what financial freedom means to you and tailor your financial plan accordingly.
๐ฆ ๐๐ฒ๐ฒ๐ฝ๐ถ๐ป๐ด ๐ ๐ผ๐ป๐ฒ๐ ๐ถ๐ ๐๐ฒ๐:
Financial success isn’t just about making money, it’s about holding onto it. Avoid unnecessary spending and impulsive decisions that can derail your financial goals.
๐ฏ ๐ฃ๐น๐ฎ๐ป ๐ณ๐ผ๐ฟ ๐๐ต๐ฒ ๐จ๐ป๐ฒ๐ ๐ฝ๐ฒ๐ฐ๐๐ฒ๐ฑ:
Life rarely goes exactly according to plan. Build in buffers for unexpected expenses and market fluctuations. Your financial plan should be flexible and adaptable.
โ โ โ If you’ve read The Psychology of Money, what takeaway stood out to you?
