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.

Less Ego, More Wealth

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.

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

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.

Increase Your Time Horizon

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.

Become OK with things going wrong.

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.

Be nicer and less flashy

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

books

Books

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people. Money—investing, personal finance, and business decisions—is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together. In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Morgan Housel is a partner at The Collaborative Fund. He is a two-time winner of the Best in Business Award from the Society of American Business Editors and Writers, winner of the New York Times Sidney Award, and a two-time finalist for the Gerald Loeb Award for Distinguished Business and Financial Journalism. He lives in Seattle with his wife and two kids.

Morgan Housel

The Psychology of Money

Try to be a man who clearly considered his experience and his skill in expounding philosophical principles as the smallest of his merits

Bits from Meditations

Offence which is committed with pleasure is more blameable than which is committed with pain.The Person who has been first wronged and through pain is compelled to be angry; but the other is moved by his own impulse to do wrong, being carried towards doing something by desire.

For the present is the same to all, through that which perishes is not the same; and so that which is lost appears to be a mere moment.For a man cannot lose either the past or the future: for what a man has not, how can anyone take this from him?

Present Is Same To All

For to be vexed at anything that happens.Turn towards someone with the intention of injuring.When it's overpowered by pleasure or by pain.Does or says anything insincerely and untruly.When it allows any act of its own to be without an aim.

The Soul Of A Man Does Violence To Itself

Packaged in handsome, affordable trade editions, Clydesdale Classics is a new series of essential works. From the musings of intellectuals such as Thomas Paine in Common Sense to the striking personal narrative of Harriet Jacobs in Incidents in the Life of a Slave Girl, this new series is a comprehensive collection of our intellectual history through the words of the exceptional few. Meditations is a collection of twelve books written by Roman Emperor Marcus Aurelius. The books were originally compiled in the form of private journals. Marcus Aurelius used these notes as personal guides to live by and to better himself as a ruler. He compiled these journals during his time as emperor, and while they were not intended for public consumption, there are valuable lessons to be gleaned from his wisdom. The entries include his views of stoicism--the Hellenistic philosophy devoid of "destructive emotions" that could tamper with logic--and its practical use in ruling and military tactics. Completely unabridged, with a new foreword written by Huffington Post writer Carolyn Gregoire, this publication of Meditations is an all-encompassing collection of Marcus Aurelius's works.

Meditations (Medieval Greek: Τὰ εἰς ἑαυτόν, romanized: Ta eis he'auton, lit. 'things to one's self') is a series of personal writings by Marcus Aurelius, Roman Emperor from 161 to 180 AD, recording his private notes to himself and ideas on Stoic philosophy. Marcus Aurelius wrote the 12 books of the Meditations in Koine Greek as a source for his own guidance and self-improvement. It is possible that large portions of the work were written at Sirmium, where he spent much time planning military campaigns from 170 to 180. Some of it was written while he was positioned at Aquincum on campaign in Pannonia, because internal notes tell us that the first book was written when he was campaigning against the Quadi on the river Granova (modern-day Hron) and the second book was written at Carnuntum.

Marcus Aurelius Antoninus was Roman emperor from 161 to 180 AD and a Stoic philosopher. He was the last of the rulers known, noncontemporaneously, as the Five Good Emperors and the last emperor of the Pax Romana, an age of relative peace, calmness and stability for the Roman Empire lasting from 27 BC to 180 AD.

Marcus Aurelius

Meditations

It seems noted German philosopher Friedrich Nietzsche was right. Scientists have now confirmed what he had said: “What doesn’t kill you,makes you stronger”.

That which doesn't kill us makes us stronger.

An international team has found that although traumatic experiences such as losing a loved one can be psychologically damaging, small amounts of trauma can make people more tough. Current Directions in Psychological Science’ journal reports.

A Little Trauma Can Make You Tough

Negative life experiences can toughen people,making them better able to manage difficulties.

The Psychology of Money

Meditations

What doesn’t kill you makes you stronger!

Dhawal Ramdham