12 Powerful Financial Lessons From the Book “The Psychology of Money”
⚡️Book Thread⚡️
⚡️Book Thread⚡️
1. Ordinary folks with no financial education can be wealthy if they have a handful of behavioral skills that have nothing to do with formal measures of intelligence.
2. Financial success, to an extent, is driven by luck irrespective of intelligence and effort.
3. Financial success is a soft skill, where how you behave is far more important than what you know.
4. Someone else's failure is usually attributed to bad decisions, and our own failure is usually attributed to bad luck.
Not all success is due to hard work and not all failures are due to laziness.
Not all success is due to hard work and not all failures are due to laziness.
5. People who have control over their time tend to be happier in life.
6. Good investing is about getting decent enough returns over decades. That's when compounding turns wild.
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