The Psychology Of Money- Timeless | Lessons On We...

Bill Gates is brilliant. But he was also one of the few teens in the 1960s with access to a computer terminal at Lakeside School—an opportunity so rare it was essentially winning the lottery. Similarly, someone just as brilliant as Gates might have been born in North Korea, or during a war, and never had that chance. That is risk.

We love simplicity. We want a genius to tell us "Do X to get Y." But finance is complex. Consequently, the industry is filled with "false prophets" who confuse boldness with skill. The Psychology of Money- Timeless lessons on we...

There is a hidden fee to investing. It is not commissions or expense ratios. It is . Bill Gates is brilliant

Financial success is a soft skill driven by behavior, not intelligence. Housel illustrates this by contrasting the incredible frugality of a janitor, Ronald Read, with the over-leverage of Harvard-educated executive Richard Fuscone. Key Takeaway That is risk

Morgan was the kind of person who read every finance blog, tracked every dollar in a color-coded spreadsheet, and knew the exact annual fee of her credit card down to the cent. She had done everything “right” by the conventional wisdom of wealth. Yet, every night, she lay awake worrying about money.