The Psychology of Money - Lessons We Can Learn From The Book.

1) Someone driving a $100,000 car might be wealthy. But the only data point you have about their wealth is that they have $100,000 less than they did before they bought the car (or $100,000 more in debt). That's all you know about them. 2) Money buys freedom, but freedom doesn’t always lead to happiness." 3) "What people 'want' often has very little to do with what they actually 'need.' 4) "Being rational, patient, and having a disciplined approach to your finances is often more valuable than having a high IQ." 5) Success is often a delusion. One needs a lot of luck to be successful, but to acknowledge the role of luck is to admit that other people could have done what you did if they had been as lucky as you." 6) "The wealthiest individuals are often the ones who have enough; anything more is just a bonus." 7) "Investing is not the study of finance. It’s the study of how people behave with money." 8) "A huge part of financial freedom is having your heart and mind free from worry about the what-ifs of life." 9) "The most important part of every plan is planning on the plan not going according to plan." 10) The biggest investing errors come not from factors that are informational or analytical, but from those that are psychological."

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