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Wordsfrombimpe:
Book 📕 Review - Psychology Of Money

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https://www.youtube.com/watch?v=gUFbCyyWjYU?si=FPMD5knHN3ugf_TV

Patience & greed

Patience is key 🔑 when it comes to money

Ronal read was patient , Richard Fuscone was greedy. That’s all it took to eclipse the massive education and experience gap between the two

Do not be greedy when it comes to money

In what other industry does someone with no college degree , no training , no background , no formal experience and no connections massively outperform someone with the best education , the best training , and the best connections ?

Money doesn’t care about your degree

Soft skills are more important than the technical side of money

Finance seen as maths based skills

Savings and Investment

This is true in personal finance where you are told to have a six month emergency fund and save 10 percent ( 10 %) of your salary

It’s not that any of these things are bad or wrong . It’s that knowing what to do tells you nothing about what happens in your head when you try to do it - The Brain

Two topics impact - whether you are interested in them or not ; health or money

Scientific discoveries have replaced doctors old ideas about the human body works and virtually everyone is healthier because of it

The power of science in medicine

But has trial and error taught us to become better with our personal finances ? Are we less likely to bury ourselves in debt ? More likely to save for a raining day ? Prepare for retirement

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AlphaTaikun:
Morgan Housel's book "The Psychology of Money" is one of the best that I've ever read on personal finance.