Kushal Jain's Key Ideas from The Psychology of Money
by Morgan Housel
Ideas, facts & insights covering these topics:
4 ideas
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Save Money, Build Wealth
- It's simple, but easy to overlook is that building wealth has little to do with your income or investment returns and lots to do with your savings wealth.
- If two persons at same level and one of them is good investor and. Other one is not that good then also he can make it large if he spend less and saves bigger than other.
- After a point when basic needs covered a person now spend more just for showing of is useless he can save that make a big fortune
- Some people save for some goals like purchasing something but it's not important you can save just for savings sake
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Everything Has Its Price Tag
Why do so many people who are willing to pay the price of cars, houses, food and vacations try so hard to avoid paying price of good investment?
The answer is simple: the price of investing success is not immediately obvious.Its not a price tag you can see, so when bill comes due it feel like fine not fee. That's why people not succeed in investing.
In order to succeed in investing start seeing the investment due or decline as fee not fine.
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647 reads
Highest Dividend Money Pays
The highest form of wealth is ability to wake up every morning and say "I can do whatever I want today".
The ability to do what you want, when you want, with who you want, for as long as you want, is priceless. This can only be possible if you have money If you don't have may take a leave by you will not get full freedom of time. That's why money provide you freedom.
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Market Is Full Of Surprise
Generally people make some estimation of markets by seeing the history. But there is always possibility of happening something new that is not expected at all and may be much more dangerous than that is estimated from history.
We can see the example of covid pandemic no one ever estimated that thing of this level can be happen but it happened. So the market is full of surprises, no one can predict it with shorty.
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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.
Kushal Jain's ideas are part of this journey:
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