#morganhousel — Public Fediverse posts
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7 Best Books on the Psychology of Money
Most investors know what they should do. Spend less than they earn. Buy index funds. Hold through downturns. Few actually do it. The gap between knowing and doing is not a knowledge problem. It is a psychology problem.
Behavioral economists have spent decades mapping that gap, and a small shelf of books explains their findings in plain language. These are the seven most useful, ranked by how much they change the way you handle your own money.
1. The Psychology of Money by Morgan Housel
Morgan Housel is a partner at the Collaborative Fund and a former Wall Street Journal columnist. His argument is simple: doing well with money has surprisingly little to do with how smart you are and a lot to do with how you behave. The book’s central ideas are that wealth is what you don’t see (it compounds through restraint, not displays), that knowing when you have ‘enough’ is the hardest financial skill, and that everyone’s money decisions make sense to them given their own history — so judging others’ choices is usually a mistake. Read it alongside Who is Morgan Housel? and his follow-up Same as Ever. The Psychology of Money (2020) is the best starting point on this list.
2. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman, the Nobel-winning psychologist, describes two modes of thought: fast, intuitive System 1 and slow, deliberate System 2. Investing is a System 1 minefield. Overconfidence makes us trade too much. Loss aversion makes us sell winners early and ride losers down. Anchoring makes the first price we see feel like the ‘right’ one. The book is dense, but no other single work explains why smart people make dumb money decisions. Our review of Thinking, Fast and Slow covers the key experiments. Thinking, Fast and Slow (2011).
3. Nudge by Richard Thaler and Cass Sunstein
Richard Thaler and Cass Sunstein argue that small changes in how choices are presented — ‘choice architecture’ — steer people toward better decisions without restricting their freedom. The famous example is automatic enrollment in 401(k) plans, which raised participation far more than any education campaign. The lesson for your own finances: design your defaults so the right behavior is the easy one. Automate savings, automate investing, and let inertia work for you instead of against you. Our review of Nudge has the details. Nudge (final edition, 2021).
4. Misbehaving by Richard Thaler
This is Thaler’s intellectual memoir of how behavioral economics was built. He documents the ‘misbehaving’ humans — including himself — who failed to match the rational models of classical economics: people who treat money differently depending on mental accounts, who overvalue what they own (the endowment effect), and who throw good money after bad because of sunk costs. It reads as a story rather than a textbook, which makes it the most enjoyable entry point to the academic research behind this list. Our review of Misbehaving. Misbehaving (2015).
5. Thinking in Bets by Annie Duke
Annie Duke is a former professional poker player who applies the poker mindset to everyday decisions. Her core insight: every decision is a bet on an uncertain future, and good decisions can still produce bad outcomes. Judging a decision by its result — ‘resulting’ — is the most common thinking error she sees. The fix is practical: state your beliefs as probabilities, keep a decision journal, and find a group that will argue with you honestly. Investors who internalize this stop confusing luck with skill. Who is Annie Duke? and our review of Thinking in Bets. Thinking in Bets (2018).
6. Just Keep Buying by Nick Maggiulli
Nick Maggiulli, a data scientist at Ritholtz Wealth Management, answers personal finance questions with data instead of anecdotes. Why you need to save less than you think. Why waiting for dips costs more than it saves. How to survive a market crash. The psychology angle is implicit throughout: your feelings about money are unreliable, so build rules that don’t depend on them. Who is Nick Maggiulli? and our review of Just Keep Buying. Just Keep Buying (2022).
7. The Art of Spending Money by Morgan Housel
Housel’s 2025 follow-up turns from saving to spending — the half of money psychology most books ignore. The argument: money’s highest purpose is buying control over your time and optionality, but expectations, not income, determine whether spending actually satisfies. People confuse envy with admiration, chase benchmarks that move, and forget that the point of wealth was never the wealth itself. It is the natural companion to the first book on this list. The Art of Spending Money (2025).
How to Use This List
You do not need to read all seven. Start with The Psychology of Money if you are new to the subject; it is the shortest path to thinking differently. Add Thinking, Fast and Slow when you want the science, and Nudge when you want to redesign your own habits. The practical move is to take one idea from each book you read and turn it into a rule: automate your savings (Thaler and Sunstein), write down your reasons before any large financial decision (Duke), define ‘enough’ in writing (Housel). Loss aversion alone explains most of the mistakes on that list, and naming it is the first step to working around it.
The uncomfortable truth these books share is that investment returns come mostly from behavior, not from picking the right assets. The market rewards patience, humility, and consistency — all psychological traits, none of them purchasable. A bookshelf that trains those traits is worth more than a better stock screener.
#Books #cassSunstein #annieDuke #danielKahneman #richardThaler #morganHousel #nickMaggiulli #psychologyOfMoney #behavioralEconomics -
7 Best Books on the Psychology of Money
Most investors know what they should do. Spend less than they earn. Buy index funds. Hold through downturns. Few actually do it. The gap between knowing and doing is not a knowledge problem. It is a psychology problem.
Behavioral economists have spent decades mapping that gap, and a small shelf of books explains their findings in plain language. These are the seven most useful, ranked by how much they change the way you handle your own money.
1. The Psychology of Money by Morgan Housel
Morgan Housel is a partner at the Collaborative Fund and a former Wall Street Journal columnist. His argument is simple: doing well with money has surprisingly little to do with how smart you are and a lot to do with how you behave. The book’s central ideas are that wealth is what you don’t see (it compounds through restraint, not displays), that knowing when you have ‘enough’ is the hardest financial skill, and that everyone’s money decisions make sense to them given their own history — so judging others’ choices is usually a mistake. Read it alongside Who is Morgan Housel? and his follow-up Same as Ever. The Psychology of Money (2020) is the best starting point on this list.
2. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman, the Nobel-winning psychologist, describes two modes of thought: fast, intuitive System 1 and slow, deliberate System 2. Investing is a System 1 minefield. Overconfidence makes us trade too much. Loss aversion makes us sell winners early and ride losers down. Anchoring makes the first price we see feel like the ‘right’ one. The book is dense, but no other single work explains why smart people make dumb money decisions. Our review of Thinking, Fast and Slow covers the key experiments. Thinking, Fast and Slow (2011).
3. Nudge by Richard Thaler and Cass Sunstein
Richard Thaler and Cass Sunstein argue that small changes in how choices are presented — ‘choice architecture’ — steer people toward better decisions without restricting their freedom. The famous example is automatic enrollment in 401(k) plans, which raised participation far more than any education campaign. The lesson for your own finances: design your defaults so the right behavior is the easy one. Automate savings, automate investing, and let inertia work for you instead of against you. Our review of Nudge has the details. Nudge (final edition, 2021).
4. Misbehaving by Richard Thaler
This is Thaler’s intellectual memoir of how behavioral economics was built. He documents the ‘misbehaving’ humans — including himself — who failed to match the rational models of classical economics: people who treat money differently depending on mental accounts, who overvalue what they own (the endowment effect), and who throw good money after bad because of sunk costs. It reads as a story rather than a textbook, which makes it the most enjoyable entry point to the academic research behind this list. Our review of Misbehaving. Misbehaving (2015).
5. Thinking in Bets by Annie Duke
Annie Duke is a former professional poker player who applies the poker mindset to everyday decisions. Her core insight: every decision is a bet on an uncertain future, and good decisions can still produce bad outcomes. Judging a decision by its result — ‘resulting’ — is the most common thinking error she sees. The fix is practical: state your beliefs as probabilities, keep a decision journal, and find a group that will argue with you honestly. Investors who internalize this stop confusing luck with skill. Who is Annie Duke? and our review of Thinking in Bets. Thinking in Bets (2018).
6. Just Keep Buying by Nick Maggiulli
Nick Maggiulli, a data scientist at Ritholtz Wealth Management, answers personal finance questions with data instead of anecdotes. Why you need to save less than you think. Why waiting for dips costs more than it saves. How to survive a market crash. The psychology angle is implicit throughout: your feelings about money are unreliable, so build rules that don’t depend on them. Who is Nick Maggiulli? and our review of Just Keep Buying. Just Keep Buying (2022).
7. The Art of Spending Money by Morgan Housel
Housel’s 2025 follow-up turns from saving to spending — the half of money psychology most books ignore. The argument: money’s highest purpose is buying control over your time and optionality, but expectations, not income, determine whether spending actually satisfies. People confuse envy with admiration, chase benchmarks that move, and forget that the point of wealth was never the wealth itself. It is the natural companion to the first book on this list. The Art of Spending Money (2025).
How to Use This List
You do not need to read all seven. Start with The Psychology of Money if you are new to the subject; it is the shortest path to thinking differently. Add Thinking, Fast and Slow when you want the science, and Nudge when you want to redesign your own habits. The practical move is to take one idea from each book you read and turn it into a rule: automate your savings (Thaler and Sunstein), write down your reasons before any large financial decision (Duke), define ‘enough’ in writing (Housel). Loss aversion alone explains most of the mistakes on that list, and naming it is the first step to working around it.
The uncomfortable truth these books share is that investment returns come mostly from behavior, not from picking the right assets. The market rewards patience, humility, and consistency — all psychological traits, none of them purchasable. A bookshelf that trains those traits is worth more than a better stock screener.
#annieDuke #behavioralEconomics #Books #cassSunstein #danielKahneman #morganHousel #nickMaggiulli #psychologyOfMoney #richardThaler -
7 Best Books on the Psychology of Money
Most investors know what they should do. Spend less than they earn. Buy index funds. Hold through downturns. Few actually do it. The gap between knowing and doing is not a knowledge problem. It is a psychology problem.
Behavioral economists have spent decades mapping that gap, and a small shelf of books explains their findings in plain language. These are the seven most useful, ranked by how much they change the way you handle your own money.
1. The Psychology of Money by Morgan Housel
Morgan Housel is a partner at the Collaborative Fund and a former Wall Street Journal columnist. His argument is simple: doing well with money has surprisingly little to do with how smart you are and a lot to do with how you behave. The book’s central ideas are that wealth is what you don’t see (it compounds through restraint, not displays), that knowing when you have ‘enough’ is the hardest financial skill, and that everyone’s money decisions make sense to them given their own history — so judging others’ choices is usually a mistake. Read it alongside Who is Morgan Housel? and his follow-up Same as Ever. The Psychology of Money (2020) is the best starting point on this list.
2. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman, the Nobel-winning psychologist, describes two modes of thought: fast, intuitive System 1 and slow, deliberate System 2. Investing is a System 1 minefield. Overconfidence makes us trade too much. Loss aversion makes us sell winners early and ride losers down. Anchoring makes the first price we see feel like the ‘right’ one. The book is dense, but no other single work explains why smart people make dumb money decisions. Our review of Thinking, Fast and Slow covers the key experiments. Thinking, Fast and Slow (2011).
3. Nudge by Richard Thaler and Cass Sunstein
Richard Thaler and Cass Sunstein argue that small changes in how choices are presented — ‘choice architecture’ — steer people toward better decisions without restricting their freedom. The famous example is automatic enrollment in 401(k) plans, which raised participation far more than any education campaign. The lesson for your own finances: design your defaults so the right behavior is the easy one. Automate savings, automate investing, and let inertia work for you instead of against you. Our review of Nudge has the details. Nudge (final edition, 2021).
4. Misbehaving by Richard Thaler
This is Thaler’s intellectual memoir of how behavioral economics was built. He documents the ‘misbehaving’ humans — including himself — who failed to match the rational models of classical economics: people who treat money differently depending on mental accounts, who overvalue what they own (the endowment effect), and who throw good money after bad because of sunk costs. It reads as a story rather than a textbook, which makes it the most enjoyable entry point to the academic research behind this list. Our review of Misbehaving. Misbehaving (2015).
5. Thinking in Bets by Annie Duke
Annie Duke is a former professional poker player who applies the poker mindset to everyday decisions. Her core insight: every decision is a bet on an uncertain future, and good decisions can still produce bad outcomes. Judging a decision by its result — ‘resulting’ — is the most common thinking error she sees. The fix is practical: state your beliefs as probabilities, keep a decision journal, and find a group that will argue with you honestly. Investors who internalize this stop confusing luck with skill. Who is Annie Duke? and our review of Thinking in Bets. Thinking in Bets (2018).
6. Just Keep Buying by Nick Maggiulli
Nick Maggiulli, a data scientist at Ritholtz Wealth Management, answers personal finance questions with data instead of anecdotes. Why you need to save less than you think. Why waiting for dips costs more than it saves. How to survive a market crash. The psychology angle is implicit throughout: your feelings about money are unreliable, so build rules that don’t depend on them. Who is Nick Maggiulli? and our review of Just Keep Buying. Just Keep Buying (2022).
7. The Art of Spending Money by Morgan Housel
Housel’s 2025 follow-up turns from saving to spending — the half of money psychology most books ignore. The argument: money’s highest purpose is buying control over your time and optionality, but expectations, not income, determine whether spending actually satisfies. People confuse envy with admiration, chase benchmarks that move, and forget that the point of wealth was never the wealth itself. It is the natural companion to the first book on this list. The Art of Spending Money (2025).
How to Use This List
You do not need to read all seven. Start with The Psychology of Money if you are new to the subject; it is the shortest path to thinking differently. Add Thinking, Fast and Slow when you want the science, and Nudge when you want to redesign your own habits. The practical move is to take one idea from each book you read and turn it into a rule: automate your savings (Thaler and Sunstein), write down your reasons before any large financial decision (Duke), define ‘enough’ in writing (Housel). Loss aversion alone explains most of the mistakes on that list, and naming it is the first step to working around it.
The uncomfortable truth these books share is that investment returns come mostly from behavior, not from picking the right assets. The market rewards patience, humility, and consistency — all psychological traits, none of them purchasable. A bookshelf that trains those traits is worth more than a better stock screener.
#annieDuke #behavioralEconomics #Books #cassSunstein #danielKahneman #morganHousel #nickMaggiulli #psychologyOfMoney #richardThaler -
7 Best Books on the Psychology of Money
Most investors know what they should do. Spend less than they earn. Buy index funds. Hold through downturns. Few actually do it. The gap between knowing and doing is not a knowledge problem. It is a psychology problem.
Behavioral economists have spent decades mapping that gap, and a small shelf of books explains their findings in plain language. These are the seven most useful, ranked by how much they change the way you handle your own money.
1. The Psychology of Money by Morgan Housel
Morgan Housel is a partner at the Collaborative Fund and a former Wall Street Journal columnist. His argument is simple: doing well with money has surprisingly little to do with how smart you are and a lot to do with how you behave. The book’s central ideas are that wealth is what you don’t see (it compounds through restraint, not displays), that knowing when you have ‘enough’ is the hardest financial skill, and that everyone’s money decisions make sense to them given their own history — so judging others’ choices is usually a mistake. Read it alongside Who is Morgan Housel? and his follow-up Same as Ever. The Psychology of Money (2020) is the best starting point on this list.
2. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman, the Nobel-winning psychologist, describes two modes of thought: fast, intuitive System 1 and slow, deliberate System 2. Investing is a System 1 minefield. Overconfidence makes us trade too much. Loss aversion makes us sell winners early and ride losers down. Anchoring makes the first price we see feel like the ‘right’ one. The book is dense, but no other single work explains why smart people make dumb money decisions. Our review of Thinking, Fast and Slow covers the key experiments. Thinking, Fast and Slow (2011).
3. Nudge by Richard Thaler and Cass Sunstein
Richard Thaler and Cass Sunstein argue that small changes in how choices are presented — ‘choice architecture’ — steer people toward better decisions without restricting their freedom. The famous example is automatic enrollment in 401(k) plans, which raised participation far more than any education campaign. The lesson for your own finances: design your defaults so the right behavior is the easy one. Automate savings, automate investing, and let inertia work for you instead of against you. Our review of Nudge has the details. Nudge (final edition, 2021).
4. Misbehaving by Richard Thaler
This is Thaler’s intellectual memoir of how behavioral economics was built. He documents the ‘misbehaving’ humans — including himself — who failed to match the rational models of classical economics: people who treat money differently depending on mental accounts, who overvalue what they own (the endowment effect), and who throw good money after bad because of sunk costs. It reads as a story rather than a textbook, which makes it the most enjoyable entry point to the academic research behind this list. Our review of Misbehaving. Misbehaving (2015).
5. Thinking in Bets by Annie Duke
Annie Duke is a former professional poker player who applies the poker mindset to everyday decisions. Her core insight: every decision is a bet on an uncertain future, and good decisions can still produce bad outcomes. Judging a decision by its result — ‘resulting’ — is the most common thinking error she sees. The fix is practical: state your beliefs as probabilities, keep a decision journal, and find a group that will argue with you honestly. Investors who internalize this stop confusing luck with skill. Who is Annie Duke? and our review of Thinking in Bets. Thinking in Bets (2018).
6. Just Keep Buying by Nick Maggiulli
Nick Maggiulli, a data scientist at Ritholtz Wealth Management, answers personal finance questions with data instead of anecdotes. Why you need to save less than you think. Why waiting for dips costs more than it saves. How to survive a market crash. The psychology angle is implicit throughout: your feelings about money are unreliable, so build rules that don’t depend on them. Who is Nick Maggiulli? and our review of Just Keep Buying. Just Keep Buying (2022).
7. The Art of Spending Money by Morgan Housel
Housel’s 2025 follow-up turns from saving to spending — the half of money psychology most books ignore. The argument: money’s highest purpose is buying control over your time and optionality, but expectations, not income, determine whether spending actually satisfies. People confuse envy with admiration, chase benchmarks that move, and forget that the point of wealth was never the wealth itself. It is the natural companion to the first book on this list. The Art of Spending Money (2025).
How to Use This List
You do not need to read all seven. Start with The Psychology of Money if you are new to the subject; it is the shortest path to thinking differently. Add Thinking, Fast and Slow when you want the science, and Nudge when you want to redesign your own habits. The practical move is to take one idea from each book you read and turn it into a rule: automate your savings (Thaler and Sunstein), write down your reasons before any large financial decision (Duke), define ‘enough’ in writing (Housel). Loss aversion alone explains most of the mistakes on that list, and naming it is the first step to working around it.
The uncomfortable truth these books share is that investment returns come mostly from behavior, not from picking the right assets. The market rewards patience, humility, and consistency — all psychological traits, none of them purchasable. A bookshelf that trains those traits is worth more than a better stock screener.
#annieDuke #behavioralEconomics #Books #cassSunstein #danielKahneman #morganHousel #nickMaggiulli #psychologyOfMoney #richardThaler -
7 Best Books on the Psychology of Money
Most investors know what they should do. Spend less than they earn. Buy index funds. Hold through downturns. Few actually do it. The gap between knowing and doing is not a knowledge problem. It is a psychology problem.
Behavioral economists have spent decades mapping that gap, and a small shelf of books explains their findings in plain language. These are the seven most useful, ranked by how much they change the way you handle your own money.
1. The Psychology of Money by Morgan Housel
Morgan Housel is a partner at the Collaborative Fund and a former Wall Street Journal columnist. His argument is simple: doing well with money has surprisingly little to do with how smart you are and a lot to do with how you behave. The book’s central ideas are that wealth is what you don’t see (it compounds through restraint, not displays), that knowing when you have ‘enough’ is the hardest financial skill, and that everyone’s money decisions make sense to them given their own history — so judging others’ choices is usually a mistake. Read it alongside Who is Morgan Housel? and his follow-up Same as Ever. The Psychology of Money (2020) is the best starting point on this list.
2. Thinking, Fast and Slow by Daniel Kahneman
Daniel Kahneman, the Nobel-winning psychologist, describes two modes of thought: fast, intuitive System 1 and slow, deliberate System 2. Investing is a System 1 minefield. Overconfidence makes us trade too much. Loss aversion makes us sell winners early and ride losers down. Anchoring makes the first price we see feel like the ‘right’ one. The book is dense, but no other single work explains why smart people make dumb money decisions. Our review of Thinking, Fast and Slow covers the key experiments. Thinking, Fast and Slow (2011).
3. Nudge by Richard Thaler and Cass Sunstein
Richard Thaler and Cass Sunstein argue that small changes in how choices are presented — ‘choice architecture’ — steer people toward better decisions without restricting their freedom. The famous example is automatic enrollment in 401(k) plans, which raised participation far more than any education campaign. The lesson for your own finances: design your defaults so the right behavior is the easy one. Automate savings, automate investing, and let inertia work for you instead of against you. Our review of Nudge has the details. Nudge (final edition, 2021).
4. Misbehaving by Richard Thaler
This is Thaler’s intellectual memoir of how behavioral economics was built. He documents the ‘misbehaving’ humans — including himself — who failed to match the rational models of classical economics: people who treat money differently depending on mental accounts, who overvalue what they own (the endowment effect), and who throw good money after bad because of sunk costs. It reads as a story rather than a textbook, which makes it the most enjoyable entry point to the academic research behind this list. Our review of Misbehaving. Misbehaving (2015).
5. Thinking in Bets by Annie Duke
Annie Duke is a former professional poker player who applies the poker mindset to everyday decisions. Her core insight: every decision is a bet on an uncertain future, and good decisions can still produce bad outcomes. Judging a decision by its result — ‘resulting’ — is the most common thinking error she sees. The fix is practical: state your beliefs as probabilities, keep a decision journal, and find a group that will argue with you honestly. Investors who internalize this stop confusing luck with skill. Who is Annie Duke? and our review of Thinking in Bets. Thinking in Bets (2018).
6. Just Keep Buying by Nick Maggiulli
Nick Maggiulli, a data scientist at Ritholtz Wealth Management, answers personal finance questions with data instead of anecdotes. Why you need to save less than you think. Why waiting for dips costs more than it saves. How to survive a market crash. The psychology angle is implicit throughout: your feelings about money are unreliable, so build rules that don’t depend on them. Who is Nick Maggiulli? and our review of Just Keep Buying. Just Keep Buying (2022).
7. The Art of Spending Money by Morgan Housel
Housel’s 2025 follow-up turns from saving to spending — the half of money psychology most books ignore. The argument: money’s highest purpose is buying control over your time and optionality, but expectations, not income, determine whether spending actually satisfies. People confuse envy with admiration, chase benchmarks that move, and forget that the point of wealth was never the wealth itself. It is the natural companion to the first book on this list. The Art of Spending Money (2025).
How to Use This List
You do not need to read all seven. Start with The Psychology of Money if you are new to the subject; it is the shortest path to thinking differently. Add Thinking, Fast and Slow when you want the science, and Nudge when you want to redesign your own habits. The practical move is to take one idea from each book you read and turn it into a rule: automate your savings (Thaler and Sunstein), write down your reasons before any large financial decision (Duke), define ‘enough’ in writing (Housel). Loss aversion alone explains most of the mistakes on that list, and naming it is the first step to working around it.
The uncomfortable truth these books share is that investment returns come mostly from behavior, not from picking the right assets. The market rewards patience, humility, and consistency — all psychological traits, none of them purchasable. A bookshelf that trains those traits is worth more than a better stock screener.
#annieDuke #behavioralEconomics #Books #cassSunstein #danielKahneman #morganHousel #nickMaggiulli #psychologyOfMoney #richardThaler -
Die Psychologie des Geldes von Morgan Housel: Warum finanzielle Entscheidungen selten nur mit Zahlen zu tun haben https://www.lesering.de/id/4950951/Die-psychologie-des-geldes-morgan-housel-rezension/ #DiePsychologiedesGeldesRezension #DiePsychologiedesGeldes #Vermögensaufbau #Geldpsychologie #Buchrezension #Buchrezension #MorganHousel #Finanzbuch #Investment
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Die Psychologie des Geldes von Morgan Housel: Warum finanzielle Entscheidungen selten nur mit Zahlen zu tun haben https://www.lesering.de/id/4950951/Die-psychologie-des-geldes-morgan-housel-rezension/ #DiePsychologiedesGeldesRezension #DiePsychologiedesGeldes #Vermögensaufbau #Geldpsychologie #Buchrezension #Buchrezension #MorganHousel #Finanzbuch #Investment
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Die Psychologie des Geldes von Morgan Housel: Warum finanzielle Entscheidungen selten nur mit Zahlen zu tun haben https://www.lesering.de/id/4950951/Die-psychologie-des-geldes-morgan-housel-rezension/ #DiePsychologiedesGeldesRezension #DiePsychologiedesGeldes #Vermögensaufbau #Geldpsychologie #Buchrezension #Buchrezension #MorganHousel #Finanzbuch #Investment
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Die Psychologie des Geldes von Morgan Housel: Warum finanzielle Entscheidungen selten nur mit Zahlen zu tun haben https://www.lesering.de/id/4950951/Die-psychologie-des-geldes-morgan-housel-rezension/ #DiePsychologiedesGeldesRezension #DiePsychologiedesGeldes #Vermögensaufbau #Geldpsychologie #Buchrezension #Buchrezension #MorganHousel #Finanzbuch #Investment
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https://www.europesays.com/uk/962634/ Finance expert Ramit Sethi says the right mindset and two basic skills can help couples build a rich life #Business #DaveRamsey #Finance #FinancialStability #FoundationalSkills #HouseholdDebt #MoneyPsychology #Moneywise #MorganHousel #PersonalFinance #RamitSethi #RobertKiyosaki #UK #UnitedKingdom
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Finance expert Ramit Sethi says the right mindset and two basic skills can help couples build a rich life
Managing the day-to-day cash flow and planning for the long term are two of the most powerful levers…
#NewsBeep #News #Personalfinance #Business #DaveRamsey #Finance #financialstability #foundationalskills #Householddebt #moneypsychology #Moneywise #MorganHousel #PersonalFinance #RamitSethi #RobertKiyosaki #UK #UnitedKingdom
https://www.newsbeep.com/uk/586159/ -
https://www.europesays.com/ie/486135/ Finance expert Ramit Sethi says the right mindset and two basic skills can help couples build a rich life #DaveRamsey #Éire #FinancialStability #FoundationalSkills #HouseholdDebt #IE #Ireland #MoneyPsychology #Moneywise #MorganHousel #RamitSethi #RobertKiyosaki #Technology
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#ThePsychologyofMoney #Book
By #MorganHousel
1. Doing well with money has little to do with how smart you are and a lot to do with how you behave.
2. Getting money is one thing. Keeping it is another.
3. Use the money to gain control over your time.
4. Controlling your time is the highest dividend money pays.
5. Independence doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.
https://www.holisticinvestment.in/money-lessons-from-psychology-of-money-book/ -
#ThePsychologyofMoney #Book
By #MorganHousel
1. Doing well with money has little to do with how smart you are and a lot to do with how you behave.
2. Getting money is one thing. Keeping it is another.
3. Use the money to gain control over your time.
4. Controlling your time is the highest dividend money pays.
5. Independence doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.
https://www.holisticinvestment.in/money-lessons-from-psychology-of-money-book/ -
#ThePsychologyofMoney #Book
By #MorganHousel
1. Doing well with money has little to do with how smart you are and a lot to do with how you behave.
2. Getting money is one thing. Keeping it is another.
3. Use the money to gain control over your time.
4. Controlling your time is the highest dividend money pays.
5. Independence doesn’t mean you’ll stop working. It means you only do the work you like with people you like at the times you want for as long as you want.
https://www.holisticinvestment.in/money-lessons-from-psychology-of-money-book/ -
A package deal
I often find myself drawn into looking at what other creatives are looking at; I find interest in that second degree of separation. I may be interested in a particular creative person, but only if I’m interested in their specific work. But nearly every creative person I encounter, I’m always asking (literally, or in my internal dialog): Where did they get that idea? What were the inspirations that led to that composition. I suppose that’s right next to being interested in the creative process itself—but that’s not quite it. I don’t really want to know how they do what they do. I want to know who they are, and why they do what they do.
The key thing is that unique minds have to be accepted as a full package, because the things they do well and that we admire cannot be separated from the things we wouldn’t want for ourselves or look down upon.
~ Morgan Housel, from Wild Mindsslip:4ucobo8.
I think it was Homer (Simpson, I mean) who said, just because you are unique, doesn’t mean you are useful. That too harsh by half. It’s not necessary that one be useful (but it’s nice if you want to be able to say, buy food or put a roof over your head.) I want to push back against ‘ol Homer there and amend that to be: Just because you are unique, doesn’t mean people will understand you.
ɕ
#7ForSunday #BrainAndMind #MorganHousel -
Everything combines
Everything we experience, do, say and think combines with everything. It’s not strictly fractal because it’s not necessarily self-similar. It’s a rolling boil of randomness within which we find meaning. The meaning isn’t everywhere in there. It’s a precious discovery and in searching for it, we develop a scarcity mindset. We build up skills and heuristics for finding and keeping (learning, remembering) that meaning. Things get simplified so we can hold on to them.
In each case it’s easy to underestimate risk—or at least to be surprised at what happens—because the initial ingredients seem harmless. The idea that two innocent small things can combine to form one big dangerous thing isn’t intuitive.
The same things happens with personality traits.
~ Morgan Housel, from Vicious Trapsslip:4ucobo1.
The very powers which enable us to interact with the world and to grapple—with varying degrees of effectiveness—with our own minds, are the ones which cause us to err. Everything combines and we’re always gauging the size of the effects of each combination. How do we keep errors from creeping into our mindset and world view? Or rather, knowing that they are continuously creeping in, how do we attempt to weed them out? Self-reflection.
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#7ForSunday #MorganHousel #Reflection -
“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
“Think of it this way: Would you rather make $100,000 a year with a spouse who loves you, children who admire you, good friends, good health, and a clear conscience, or make $1,000,000 and have none of those things?”
- #MorganHousel https://collabfund.com/blog/a-few-laws-of-getting-rich/?ref=refind -
Creativerly 237 is out featuring
Tools: #Gridea, #TaskPaper by #HogBaySoftware (cc @jessegrosjean, and news and updates from #acreom, #Skiff, #WordPress, and #Reflect.
Articles: #AnisahOsmanBritton, #LauraHartenberger, #MorganHousel, #OlgaKhazan
Read the whole issue here: https://creativerly.com/intelligent-vs-smart/
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Creativerly 237 is out featuring
Tools: #Gridea, #TaskPaper by #HogBaySoftware (cc @jessegrosjean, and news and updates from #acreom, #Skiff, #WordPress, and #Reflect.
Articles: #AnisahOsmanBritton, #LauraHartenberger, #MorganHousel, #OlgaKhazan
Read the whole issue here: https://creativerly.com/intelligent-vs-smart/
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Creativerly 237 is out featuring
Tools: #Gridea, #TaskPaper by #HogBaySoftware (cc @jessegrosjean, and news and updates from #acreom, #Skiff, #WordPress, and #Reflect.
Articles: #AnisahOsmanBritton, #LauraHartenberger, #MorganHousel, #OlgaKhazan
Read the whole issue here: https://creativerly.com/intelligent-vs-smart/
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Creativerly 237 is out featuring
Tools: #Gridea, #TaskPaper by #HogBaySoftware (cc @jessegrosjean, and news and updates from #acreom, #Skiff, #WordPress, and #Reflect.
Articles: #AnisahOsmanBritton, #LauraHartenberger, #MorganHousel, #OlgaKhazan
Read the whole issue here: https://creativerly.com/intelligent-vs-smart/
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Make a point
I write because it requires me to think. There’s no particular reason why I need to publish what I write. Having targets for what to write, and on what schedule to publish it, simply keeps me accountable. I am certainly better off for having done the writing and the thinking.
Make your point, make it clear, and get out of the reader’s way.
~ Morgan Housel, from Useful Laws of the Landslip:4ucobo14.
By reading what others have written, I’ve found myself standing on the shoulders of giants.
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#7ForSunday #Heuristics #MorganHousel #OnWriting -
Can I flip this?
I expend a lot of time and energy thinking about technology. I’m often trying to share some idea with others, or trying to make a change in the world. But year by year I’m shifting to spending more of that time and energy simply deciding what technology I want to adopt. Mastodon and the corresponding ActivityPub technology which creates the Fediverse is a great example. Should I join in on that new technology and create a presence there?
Grasping the value of new technology requires imagination. But unless you have skin in the game that doesn’t seem worth the effort because technology is supposed to make things easier and simpler, not wrack your brain.
~ Morgan Housel, from Why New Technology Is A Hard Sellslip:4ucobo16.
Housel’s covers that, and three other intriguing points about why new technology is a hard sell. I’m left wondering could I use the points raised in the article to help me make decisions about technology? If I flip the article’s thinking over (from an others-directed “why doesn’t technology get adopted” direction to a self-directed “why I might not adopt technology” direction) then I can ask myself corresponding questions. For example, for the quoted point above, I can ask: Am I engaging my imagination at all when considering some piece of technology? (Aside: I decided, yes, and you can search for
@[email protected]wherever you are in the Fediverse.)ɕ
#7ForSunday #DecisionFatigue #MorganHousel #Technology -
Creativerly 230 is out featuring
Tools: #Minutes, #Finbar by #RoeyBiran, and news and updates by #ShinyFrog and @obsidian.
Articles: #AnneLaureLeCunff (#NessLabs), #MorganHousel, #VitalyFriedman (#SmashingMagazine), #JuliaEvans
Thank you #DesignTechSIA for sponsoring this issue 🚀
Read it here: https://creativerly.com/meetings-made-for-remote-teams/
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Creativerly 230 is out featuring
Tools: #Minutes, #Finbar by #RoeyBiran, and news and updates by #ShinyFrog and @obsidian.
Articles: #AnneLaureLeCunff (#NessLabs), #MorganHousel, #VitalyFriedman (#SmashingMagazine), #JuliaEvans
Thank you #DesignTechSIA for sponsoring this issue 🚀
Read it here: https://creativerly.com/meetings-made-for-remote-teams/
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Creativerly 230 is out featuring
Tools: #Minutes, #Finbar by #RoeyBiran, and news and updates by #ShinyFrog and @obsidian.
Articles: #AnneLaureLeCunff (#NessLabs), #MorganHousel, #VitalyFriedman (#SmashingMagazine), #JuliaEvans
Thank you #DesignTechSIA for sponsoring this issue 🚀
Read it here: https://creativerly.com/meetings-made-for-remote-teams/
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Irrelevant in all circumstances
I waffled on my title. I started a draft with the current title, which is simply item
#7plucked from Housel’s post. Later, I misread it as “Irreverant…” and, even after noticing my speling error, still thought myself clever; “Haha, yes, I am irreverant in all circumstances.” Which my mind then toggled back to “irrelevant” and, “Yes, I am probably also irrelevant in all circumstances.” Ouch.The firehose makes it easy to mirror the poor Oxford boy: since information is free and ubiquitous but adding context has a mental price, the path of least resistance is to know facts without a clue where they go or whether they’re useful.
~ Morgan Housel, from Different Kinds of Informationslip:4ucobo2.
And no, it’s not at all a diss on [a]social media. It’s a terrific little post listing different kinds of information. I’d love to be a source of a large amount of
#2and#4. But if I’m being honest, I’m more a source of#5. …and#7, I definitely generate a lot of that. Maybe even some of#8—but only in the, “oh my gawd, no! Spit that out!” sort of way.ɕ
#2 #4 #5 #7 #7ForSunday #ExperienceAndLearning #KnowledgeSystems #MorganHousel #Wisdom -
Creativerly 226 is out featuring
Tools: #Spacedrive, #Webstudio, and fresh updates and news from #Coda (AI Integration), #Uizard (Autodesigner), and #DETA (New website and docs).
Articles: #GregMcKeown (#HarvardBusinessReview), #MorganHousel (#CollaborativeFund), #MarkManson, #JuddAntin
Read the whole issue here: https://creativerly.com/a-file-explorer-from-the-future/
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Creativerly 226 is out featuring
Tools: #Spacedrive, #Webstudio, and fresh updates and news from #Coda (AI Integration), #Uizard (Autodesigner), and #DETA (New website and docs).
Articles: #GregMcKeown (#HarvardBusinessReview), #MorganHousel (#CollaborativeFund), #MarkManson, #JuddAntin
Read the whole issue here: https://creativerly.com/a-file-explorer-from-the-future/
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Creativerly 226 is out featuring
Tools: #Spacedrive, #Webstudio, and fresh updates and news from #Coda (AI Integration), #Uizard (Autodesigner), and #DETA (New website and docs).
Articles: #GregMcKeown (#HarvardBusinessReview), #MorganHousel (#CollaborativeFund), #MarkManson, #JuddAntin
Read the whole issue here: https://creativerly.com/a-file-explorer-from-the-future/
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Creativerly 226 is out featuring
Tools: #Spacedrive, #Webstudio, and fresh updates and news from #Coda (AI Integration), #Uizard (Autodesigner), and #DETA (New website and docs).
Articles: #GregMcKeown (#HarvardBusinessReview), #MorganHousel (#CollaborativeFund), #MarkManson, #JuddAntin
Read the whole issue here: https://creativerly.com/a-file-explorer-from-the-future/
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This collection of epigrams by #MorganHousel is golden, and it summarises so well my own thinking in some areas, like #philosophy, #economics:
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This collection of epigrams by #MorganHousel is golden, and it summarises so well my own thinking in some areas, like #philosophy, #economics:
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This collection of epigrams by #MorganHousel is golden, and it summarises so well my own thinking in some areas, like #philosophy, #economics:
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Creativerly 219 is out featuring
Tools: #StudioAI, @omnivore, and new updates by #Napkin, #Supernotes, and #Capacities.
Articles: #SimoneStolzoff (http://every.to), #AnneLaureLeCunff (nesslabs.com), #AllieVolpe (vox.com), #MorganHousel (collabfund.com).
This issue has been brought to you by Meco (https://www.meco.app/get/4rks?ref=creativerly.com) ✨
Read it here: https://creativerly.com/the-read-it-later-app-for-serious-readers/
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Creativerly 219 is out featuring
Tools: #StudioAI, @omnivore, and new updates by #Napkin, #Supernotes, and #Capacities.
Articles: #SimoneStolzoff (http://every.to), #AnneLaureLeCunff (nesslabs.com), #AllieVolpe (vox.com), #MorganHousel (collabfund.com).
This issue has been brought to you by Meco (https://www.meco.app/get/4rks?ref=creativerly.com) ✨
Read it here: https://creativerly.com/the-read-it-later-app-for-serious-readers/
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Creativerly 219 is out featuring
Tools: #StudioAI, @omnivore, and new updates by #Napkin, #Supernotes, and #Capacities.
Articles: #SimoneStolzoff (http://every.to), #AnneLaureLeCunff (nesslabs.com), #AllieVolpe (vox.com), #MorganHousel (collabfund.com).
This issue has been brought to you by Meco (https://www.meco.app/get/4rks?ref=creativerly.com) ✨
Read it here: https://creativerly.com/the-read-it-later-app-for-serious-readers/
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Creativerly 219 is out featuring
Tools: #StudioAI, @omnivore, and new updates by #Napkin, #Supernotes, and #Capacities.
Articles: #SimoneStolzoff (http://every.to), #AnneLaureLeCunff (nesslabs.com), #AllieVolpe (vox.com), #MorganHousel (collabfund.com).
This issue has been brought to you by Meco (https://www.meco.app/get/4rks?ref=creativerly.com) ✨
Read it here: https://creativerly.com/the-read-it-later-app-for-serious-readers/
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Creativerly 213 is out w/
Tools: #Asterix, #MonsterWriterApp, and updates from #Around, #Beam, and #Acreom.
Articles: #MorganHousel, #KevinDickinson, #SarahChaney, #RonFriedman
and a lot more 👀
Thank you #Shortform for sponsoring this issue ✨
https://creativerly.com/the-art-of-asking-the-right-questions/
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Creativerly 213 is out w/
Tools: #Asterix, #MonsterWriterApp, and updates from #Around, #Beam, and #Acreom.
Articles: #MorganHousel, #KevinDickinson, #SarahChaney, #RonFriedman
and a lot more 👀
Thank you #Shortform for sponsoring this issue ✨
https://creativerly.com/the-art-of-asking-the-right-questions/
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Creativerly 209 is out featuring
Tools: talers.io, usehighbeamapp.com, and exciting updates by framer.com and you.com
Articles: #MorganHousel, #DorieClark, #JasonRothman, #KenNorton
and a lot more ✨
Read it here: https://creativerly.com/the-art-of-product-management/
#Creativerly #apps #software #creativity #productivity #productivityapps
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Creativerly 209 is out featuring
Tools: talers.io, usehighbeamapp.com, and exciting updates by framer.com and you.com
Articles: #MorganHousel, #DorieClark, #JasonRothman, #KenNorton
and a lot more ✨
Read it here: https://creativerly.com/the-art-of-product-management/
#Creativerly #apps #software #creativity #productivity #productivityapps
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Peoples’ desire to have an opinion far exceeds the number of things that need to be opined on. “I don’t know” is a phrase that should be praised for its honesty, not belittled for its detachment.
~ Morgan Housel from, https://www.collaborativefund.com/blog/overlooked-truths-of-business-and-investing-success/
Collaborative Fund is an investment firm so everything there is about investing. Mostly about investing. Well, actually, it turns out that investing is at its core just people doing stuff for reasons. Posts like this one from Housel read like investment (or “financial”) advice, and their lessons directly generalize. I’ve already mentioned that “I don’t know” is how how I avoid making the mistake of trying to have an opinion about everything. There are several other nuggets in there too.
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#morgan-housel #perspective #self-awareness
https://constantine.name/2023/02/20/overlooked-truths/
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People – especially really smart people – have a tendency to attempt solving big problems (like earning a profit) without first solving more basic ones (like how you’ll get there). This is why the “Step 1, Step 3” joke resonates. And it’s why understanding the hierarchy of earning profit is so important.
~ Morgan Housel from, https://www.collaborativefund.com/blog/the-hierarchy-of-earning-profit/Oh, crikey! That’d be me. I too–frequently get frustrated when my “awesome idea” isn’t received the way I’d like it to be. I think it’s exactly the same step–two problem that Housel points out. I’m jumping over step 2. But in cases where I try to figure out step 2… *crickets* It occurs to me that there’s another way to address the issue: Stop chasing ideas that solve a problem that I have, and instead try to chase an idea that solves a problem someone else has.
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A Few Rules
The person who tells the most compelling story wins.
Something can be factually true but contextually nonsense.
Tell people what they want to hear and you can be wrong indefinitely without penalty.
Woodrow Wilson said government "is accountable to Darwin, not to Newton."
Behavior is hard to fix.
"Logic is an invention of man and may be ignored by the universe," historian Will Durant.
Being good at something doesn’t promise rewards.
The world is governed by probability, but people think in black and white ... because it’s easier.
Henry Luce: "Show me a man who thinks he’s objective and I’ll show you a man who’s deceiving himself."
People learn when they’re surprised.
Most fields have only a few laws.
The only thing worse than thinking everyone who disagrees with you is wrong is the opposite: being persuaded by the advice of those who need or want something you don’t.
Simple explanations are appealing even when they’re wrong.
Self-interest is the most powerful force in the world. (For good and bad.)
History is deep.
Don’t expect balance from very talented people.
Progress happens too slowly to notice, setbacks happen too fast to ignore.
It is way easier to spot other people’s mistakes than your own.
Reputations have momentum in both directions.
History is driven by surprising events, forecasting is driven by predictable ones.
-- Morgan Housel
(Abridged, see source for full version.)
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A Few Rules
The person who tells the most compelling story wins.
Something can be factually true but contextually nonsense.
Tell people what they want to hear and you can be wrong indefinitely without penalty.
Woodrow Wilson said government "is accountable to Darwin, not to Newton."
Behavior is hard to fix.
"Logic is an invention of man and may be ignored by the universe," historian Will Durant.
Being good at something doesn’t promise rewards.
The world is governed by probability, but people think in black and white ... because it’s easier.
Henry Luce: "Show me a man who thinks he’s objective and I’ll show you a man who’s deceiving himself."
People learn when they’re surprised.
Most fields have only a few laws.
The only thing worse than thinking everyone who disagrees with you is wrong is the opposite: being persuaded by the advice of those who need or want something you don’t.
Simple explanations are appealing even when they’re wrong.
Self-interest is the most powerful force in the world. (For good and bad.)
History is deep.
Don’t expect balance from very talented people.
Progress happens too slowly to notice, setbacks happen too fast to ignore.
It is way easier to spot other people’s mistakes than your own.
Reputations have momentum in both directions.
History is driven by surprising events, forecasting is driven by predictable ones.
-- Morgan Housel
(Abridged, see source for full version.)
