“The best measure of wealth is what you have minus what you want, and by this measure some billionaires are broke.” — @morganhousel
“The best measure of wealth is what you have minus what you want, and by this measure some billionaires are broke.” — @morganhousel
Wealth is financial assets that haven’t yet been converted into the stuff you see.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Investor Bill Mann once wrote: “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.”
Morgan Housel • The Psychology of Money
But there’s only one way to stay wealthy: some combination of frugality and paranoia.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Wealth is just the accumulated leftovers after you spend what you take in.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Wealth is an option not yet taken to buy something later. Its value lies in offering you options, flexibility, and growth to one day purchase more stuff than you could right now.
Morgan Housel • The Psychology of Money: Timeless lessons on wealth, greed, and happiness
Saving money is the gap between your ego and your income, and wealth is what you don’t see.