Investing: The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness by Morgan Housel

The Psychology of Money: Timeless Lessons on Wealth, Greed, and HappinessBy Morgan HouselDoing 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.TakeawaysFocus on being reasonable with money over being rationalGetting wealthy is not the same staying wealthyCompounding is the key ingredient. Compounding helps investors build wealth by generating returns on investments over time. These returns then continue to compound and help grow assets. Having more flexibility and control over your time is far more valuable than getting another 2% on your returns by working all-nighters or making speculative bets that impact your sleep.Host rating for 'The Psychology of Money'NicoRating: 9/10SamRating: 9/10Subscribe!If you enjoyed the podcast please subscribe and rate it. And of course, share with your friends!You can also listen and join us on ReasonFM (https://reason.fm/podcast/wiser-than-yesterday) or just ask questions. Don't Forget to leave a comment on this episode See podvine.com/privacy-policy for podcast listener privacy info. Hosted on Acast. See acast.com/privacy for more information.

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Wiser than Yesterday hosts open-ended discussions, breakdowns, and summaries of the world's most thought-provoking and inspiring books.Our hosts, Nicolas Vereecke and Sam Harris digest non-fiction books from all centuries and genres. They discuss the biggest philosophical insights and practical lessons for health, wealth, wisdom, and happiness.This podcast is here to help listeners become smarter. To learn about new ideas and to gain more perspectives on the books and ideas they are familiar with.Each season we tackle a new field and read the best books on a given topic such as racism, startups, stoicism, or personal finance. We cast a wide net to summarise all sides of opinions in an area to come to a wider understanding of the topic at large as well as help listeners navigate the different opinions and ideas they haven't heard of.We dive into topics such as philosophy, business, equality, psychology, politics, economics, and who knows what else. Our goal is to simply explore the best ideas and learn new things. You're most welcome to join us for the ride. Hosted on Acast. See acast.com/privacy for more information.