The Psychology of Money
Morgan Housel
The Psychology of Money
by Morgan Housel
Timeless lessons on wealth, greed, and happiness. Why behavior matters more than knowledge when it comes to money.
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Our Review
The Psychology of Money is arguably the best money book written in the last decade. Morgan Housel doesn't teach you stock picking or portfolio allocation — instead, he explains why smart people make terrible financial decisions. Through 19 short stories, he reveals that financial success has less to do with how smart you are and more to do with how you behave. The chapter on compounding alone — using the example of Warren Buffett earning 97% of his wealth after age 65 — will change how you think about patience and investing. This is the book you read before any investing book.
Key Takeaways
- 1
No one is crazy — everyone makes financial decisions based on their unique experiences
- 2
Getting wealthy and staying wealthy are two different skills
- 3
Compounding is the most powerful force in finance — be patient
- 4
Wealth is what you don't see — it's the money not spent
- 5
Room for error is the most important part of any financial plan
Who Should Read This Book?
- ✓
Anyone who wants to understand their own money habits
- ✓
Investors who make emotional decisions
- ✓
People who earn well but can't seem to build wealth
Ready to Read The Psychology of Money?
Get your copy today and start your journey to financial freedom.
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