The Psychology of Money in 20 minutes
2,606,894
Published 2023-09-13
I hope this short video inspires you to put down your phone (and social media) for a few hours and go out and grab a copy of this book for yourself.
Check out Morgan Housel’s book here
📕The Psychology of Money amzn.to/3ZdJQq1
If you are more into Audiobooks, here is a link to that. You can get two of these books for free if you sign up for a free Audible trial with the link below.
🎧Grab The Psychology of Money audiobook here on an Audible trial with 2 free books
amzn.to/3A5r32l
What is The Psychology of Money about?
You may think of money as just numbers, spreadsheets, math or an equation that needs to be solved, but the real financial decisions are made away far from calculators, around dinner tables - with ego, pride, fear and personal history.
The true nature of money is the dance between the cold arithmetic of a spreadsheet and human nature.
When it comes to money we are complicated creatures and financial success is not so much about how much you know but how you behave.
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(TIMESTAMPS)
(00:00) Financial DNA (You aren’t Crazy)
(02:51) Compound Kings (Buffett’s dirty little secret)
(05:56) Pessimism & Money
(07:40) Two Forgotten Elements (A story)
(10:18) The Key to Happiness
(11:21) Tail Events
(15:02) Beyond Bling (True Wealth VS Being Rich)
(16:30) The Real Price
(19:13) Hedonic Treadmills (enough?)
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All Comments (21)
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All you need is pure intention and a bit of practice. The more you focus on what you want to manifest, the more likely it is to happen. Keep your mind open and be willing to receive whatever it is you’ve been dreaming of and it’s possible if you believe in yourself!! Thanks for the words..
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Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
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What's the optimal strategy for someone with around $500 or even less, to begin trading cryptocurrencies today?
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The fact that nobody talks about the book Matrix Golden Cashflow Tactics, speaks volumes why people dont earn a lot of money..
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I like how you take the effort to inform your audience; after all, we're all trying to live better lives with stable finances. This is simple to do with the correct investment, modest lifestyle, and budgeting. I am grateful that I was taught early in life to strive hard for financial independence.
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As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.
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Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
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I agree that I'm a noob in money and overall investing. I was wondering, if i dedicate my time to learning what I can on youtube, can I completely rely on the free investing advice to invest my money? would that be all I will be needing to start my journey?
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Great video. I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you katrina susan
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It's quite shocking how few people know about the forbidden book called scarpure money
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It's really wonderful to come across people who freely share valuable information online. You never know what kind of knowledge you might stumble upon that could have a lasting impact on your life.
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Psychedelics are just an exceptional mental health breakthrough. It's quite fascinating how effective they are against depression and anxiety. Saved my life.
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Thanks! never had donated to a channel before but the video quality, editing and content was so good that I felt the need to contribute. cheers man 🙌🏼
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Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
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Started my portfolio last year with SCHD, VOO, and VUG after watching one of your videos. In terms of share price, VOO is way up (22.25%) and VUG is waaaaay up (39.62%). Thanks for the education!
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I'm under pressure to grow my reserve that currently holds about $500k. I'm down by 20% already following the crash and I fear I could lose more.
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I typically invest half my income in stocks monthly and hold for at least five years. However, my portfolio recently experienced a significant loss of around $150k. What should I do?
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It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
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One thing I've learned from billionaires is to diversify your investments and to always put your money to work. This year, I hope to make money investing roughly $200k of my savings in stocks.
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Aside from the gold mine of knowledge the book is, I must say this video compared to older ones made a few years ago on this channel it's a true testament of the growth of the channel it's seriously one of the best visual summaries I've ever seen on YouTube. Keep up the good work! Thanks for your contribution. I support it!
