The Psychology of Money - Deepstash
The Psychology of Money

Dhawal Ramdham's Key Ideas from The Psychology of Money
by Morgan Housel

Ideas, facts & insights covering these topics:

5 ideas

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Less Ego, More Wealth

Saving money is the gap between your ego and your income, and wealth is what you don't see. So Wealth is created by suppressing what you could buy today in order to more stuff or more options in the future.

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2.59K reads

Manage your money in a way that helps you sleep at night.

Some people won't sleep well unless they are earning the highest returns; others will only get a good rest if they're conservatively invested. To each their own.

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2.17K reads

Increase Your Time Horizon

Time is the most powerful force in investing. It makes little things grow and big mistakes fade away. It can't neutralize luck and risk, but it pushes results closer towards what people deserve.

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1.82K reads

Become OK with things going wrong.

You can be wrong half the time and still make a fortune, because a small minority of things accounts for the majority of outcomes. It is fine to have a large chunk of poor investments and a few outstanding ones.

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1.66K reads

Be nicer and less flashy

No one is impressed with your possessions as much as you are. You might think that you want a fancy car or a watch, but what you probably want is respect and admiration. And you're more likely to gain those things through kindness and humility than horsepower or chrome.

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1.95K reads

IDEAS CURATED BY

Curious about different takes? Check out our The Psychology of Money Summary book page to explore multiple unique summaries written by Deepstash users.

Dhawal Ramdham's ideas are part of this journey:

How to Start Investing Today

Learn more about books with this collection

How to manage risk

How to analyze investment opportunities

The importance of long-term planning

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Different Perspectives Curated by Others from The Psychology of Money

Curious about different takes? Check out our book page to explore multiple unique summaries written by Deepstash curators:

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