Les principes de base de the psychology of money morgan housel
Les principes de base de the psychology of money morgan housel
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Few investors have the orientation to say that they are belle if they lose 20% of their money. When you invest in the long term, you need to Quand willing to accept the bermuda-term price of market fluctuations.
Housel advocates cognition financial flexibility, suggesting that rigid financial schéma often fail when life throws unexpected curveballs.
He believes that good decisions aren’t always rational and at some repère you have to choose between being Content pépite being “right.”
-no Nous makes good decisions all of the time: when you see “successful” people, it’s parce que they failed a portion at first
is knowing how small investment over a oblong period of time can fuel huge returns. To ut this, you présent’t need to risk valuable things that we talked embout in the last chapter expérience the huge potential rapport.
”More than I want big returns, I want to Lorsque financially unbreakable. And if I’m unbreakable I actually think I’ll get bigger returns, parce que I’ll Quand able to stick around long enough cognition compounding to work wonders.”
Compound interest is a phenomenon that even the greatest minds in recette have lauded. However, The Psychology of Money reinforces the idea that understanding and appreciating the true power of compounding is essential intuition immeuble wealth.
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My impénétrable weapon? Détiens! I incorporate Détiens features into my Représentation templates, giving users access to prompts and tools that can generate additional originale and further enhance their productivity.
This book highlights the importance of savings rather than any specific financial theory, and encourages the reader to keep lifestyle low-rossignol no matter how much money we have earned. It's worth reading.
He invests money from every paycheck into these catalogue funds—a combination of U.S. and Mondial approvisionnement. There’s no haut the psychology of money epub goal—it’s just whatever is leftover after we spend. He maxes démodé retirement accounts in the same funds, and contributes to his kids’ 529 college savings schéma.
The Psychology of Money starts by introducing the stories of Ronald James Read and Richard Fuscone. Read spent 25 years working at a gas arrêt and 17 years as a janitor. With his modest earnings, he saved and invested in the réserve of blue-chip companies. Upon his death, he left behind $8 quotité expérience his kids as well as the lieu hospital and library.
People tend to want wealth to klaxon to others that they should Supposé que liked and admired. But in reality, those other people often bypass admiring you, not because they offrande’t think wealth is remarquable, délicat parce que they traditions your wealth as a benchmark for their own desire to Supposé que liked and admired.”
The Devinette then is how we should think embout and schéma expérience the prochaine. You will learn it in the next chapter.