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The Psychology of Money:
…people underestimate the need for room for error in almost everything they do that involves money.
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139 |
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The Psychology of Money:
A good rule of thumb for a lot of things in life is that everything that can break will eventually break.
|
145 |
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The Psychology of Money:
The biggest single point of failure with money is a sole reliance on a paycheck to fund short-term spending needs, with no savings…
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145 |
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The Psychology of Money:
An underpinning of psychology is that people are poor forecasters of their future selves.
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150 |
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The Psychology of Money:
We should also come to accept the reality of changing our minds.
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153 |
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The Psychology of Money:
Most things are harder in practice than they are in theory… because we’re not good at identifying what the price of success is, which prevents us from being able to pay it.
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158 |
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The Psychology of Money:
Many finance and investment decisions are rooted in watching what other people do and either copying them or betting against them.
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172 |
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The Psychology of Money:
…few things matter more with money than understanding your own time horizon and not being persuaded by the actions and behaviors of people playing different games than you are.
|
172 |
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The Psychology of Money:
There are two topics that will affect your life whether you are interested in them or not: money and health.
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182 |
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The Psychology of Money:
In investing you must identify the price of success – volatility and loss amid the long backdrop of growth – and be willing to pay it.
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187 |
