9.Wealth is what you don't see - Deepstash
How To Break Bad Habits

Learn more about moneyandinvestments with this collection

Understanding the psychological rewards of bad habits

Creating new habits to replace old ones

Developing self-discipline

How To Break Bad Habits

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9.Wealth is what you don't see

9.Wealth is what you don't see

Spending money to show people how much you have is the fastest way to have less money

  • Someone driving a $100,000 car might be wealthy. But the only data point you have about their wealth is that they have $100,000 less than they did before they bought the car (or $100,000 more in debt). That’s all you know about them.
  • If you spend money on things, you will end up with the things and not the money.

775

3.1K reads

MORE IDEAS ON THIS

JEFF IMMELT

Every job looks easy when you're not the one doing it

JEFF IMMELT

735

3.53K reads

Letter to his son

Letter to his son

Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due t...

834

6.17K reads

2.No One's Crazy

2.No One's Crazy

  • As investor Michael Batnick says, “some lessons have to be experienced before they can be understood.” We are all victims, in different ways, to that truth.
  • Every decision people make with money is justified by taking the information they have at the moment and plugging it into their...

756

4.86K reads

4.Confounding Compounding

4.Confounding Compounding

  • There are books on economic cycles, trading strategies, and sector bets. But the most powerful and important book should be called Shut Up And Wait.It’s just one page with a long-term chart of economic growth.
  • Good investing isn’t necessarily about earning the highest returns,because...

762

3.67K reads

5.Getting Wealthy Vs Staying Wealthy

5.Getting Wealthy Vs Staying Wealthy

Good investing is not necessarily about making good decisions.It's about consistently not screwing up.

  • Getting money is one thing.Keeping it is another.

731

4.35K reads

BILL MANN

There is no faster way to feel rich than to spend lots of money on really nice things. But the way to be rich is to spend money you have, and to not spend money you don’t have. It’s really that simple.

BILL MANN

749

3.46K reads

3.Never Enough

3.Never Enough

  • If you risk something that is important to you for something that is unimportant to you, it just does not make any sense.
  • There is no reason to risk what you have and need for what you don’t have and don’t need.
  • If expectations rise with results there is no logic in striving ...

752

4.52K reads

10.Save Money

10.Save Money

  • Wealth has little to do with your income or investment returns, and lots to do with your savings rate.
  • Everyone knows the tangible stuff money buys. The intangible stuff is harder to wrap your head around, so it tends to go unnoticed. But the intangible benefits of money can be far m...

730

2.69K reads

6.Tails, You win

6.Tails, You win

You can be wrong half the time and still make a fortune

  • “It’s not whether you’re right or wrong that’s important,” George Soros once said, “but how much money you make when you’re right and how much you lose when you’re wrong.” You can be wrong half the time and still make a f...

738

3.54K reads

1.Luck & Risk

1.Luck & Risk

  • The difficulty in identifying what is luck, what is skill, and what is risk is one of the biggest problems we face when trying to learn about the best way to manage money.
  • Be careful who you praise and admire. Be careful who you look down upon and wish to avoid becoming.

771

8.85K reads

7.Freedom

7.Freedom

Controlling your time is the highest dividend money pays

  • The highest form of wealth is the ability to wake up every morning and say, “I can do whatever I want today.”

820

3.68K reads

8.Man in the car paradox

8.Man in the car paradox

No one is impressed with your possessions as much as you are

  • It’s a subtle recognition that people generally aspire to be respected and admired by others, and using money to buy fancy things may bring less of it than you imagine. If respect and admiration are your goal, be car...

777

3.22K reads

When You'll Believe Anything

When You'll Believe Anything

  • Most people, when confronted with something they don't understand, do not realise they don't understand it because they are able to come up with an explanation that makes sense based on their own unique perspective and experiences in the world , however Limited those experience are.

675

2.91K reads

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True Wealth Is What You Don’t See

True Wealth Is What You Don’t See

Spending money to show people how much money you have is the fastest way to have less money.

We tend to judge wealth by what we see because that’s the information we have in front of us. But the truth is that wealth is what you don’t see. Rich is a current income. Nice cars...

Considering How Much is Enough

You don't have to be wealthy to achieve financial well-being. Research shows that beyond a modest point, more money has a limited effect on happiness.

  • Once our basic needs are met, we can quickly get used to increased wealth. Our financial status may...

3. How Much Money You Have

3. How Much Money You Have

People measure their self-worth by the size of their bank accounts.

  • Sometimes they feel like they just can’t acquire enough wealth to be “valuable enough.”
  • To prove their worth, they create a façade of wealth by going deeply into debt in hopes of a luxury car o...

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