I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works

Look at the actual data and you’ll see that an abundance of information can lead to decision paralysis, which is a fancy way of saying that with too much information, we do nothing.

Nobody can get defensive when you’re pointing to a piece of paper (rather than pointing at the other person).

spreadsheet. Life is more than tweaking your asset allocation and running Monte Carlo simulations on your investments.

When you’re young, there are only three reasons to sell an investment: You need the money for an emergency, you made a terrible investment and it’s consistently underperforming the market, or you’ve achieved your specific goal for investing.

They have a plan. Instead of getting caught on a spending treadmill of new phones, new cars, new vacations, and new everything, they plan to spend on what’s important to them and save on the rest.

If you can’t do direct deposit because your job doesn’t offer it or if you can’t get the bank to waive a “minimum,” I strongly recommend that you switch to an online high-interest account that has no fees and no minimums.

In the example above, your $220,000 house actually costs you over $750,000. And I’m not even including moving costs, the cost of new furniture, renovations, and the real estate fees when you sell the house—all of which will add up to tens of thousands of dollars.

And you should understand that houses are primarily for living in, not for making huge cash gains. Look, if you buy a house

Remember: In relationships and work, we want to be better than average. In investing, average is great.