
The Psychology of Money: Timeless lessons on wealth, greed, and happiness

You can’t prepare for what you can’t envision.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
The ability to do what you want, when you want, for as long as you want, has an infinite ROI.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Nassim Taleb says, “You can be risk loving and yet completely averse to ruin.” And indeed, you should.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
There is no reason to risk what you have and need for what you don’t have and don’t need.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Voltaire’s observation that “History never repeats itself; man always does.” It applies so well to how we behave with money.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
We own our house without a mortgage, which is the worst financial decision we’ve ever made but the best money decision we’ve ever made.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Define the game you’re playing, and make sure your actions are not being influenced by people playing a different game.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
You should like risk because it pays off over time. But you should be paranoid of ruinous risk because it prevents you from taking future risks that will pay off over time.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Go out of your way to find humility when things are going right and forgiveness/compassion when they go wrong. Because it’s never as good or as bad as it looks.