The Psychology of Money
by Morgan Housel
Description:
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.
My opinion:
If you're interested in personal finances, this book is a must-read, because it presents a simple, yet holistic view on finances
I'd recommend reading this book after first reading "Rich dad, poor dad" and then continuing with "The Millionaire Fastlane"
The book provides a holistic explanation of how money actually works
Favorite quote:
“Things that have never happened before happen all the time.”
― Morgan Housel
Key takeaways:
As much as reading can inform us about what has happened in the past, like stock market crashes or how stocks have trended up and to the right over time, learning about something in a book is very different from actually experiencing the event.
Focus less on individuals, and turn your mind to broader patterns.
If you want to be in the game for the long run, you need to leave room for error.