Book 📕 Review - Psychology Of Money
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Patience & greed
Patience is key 🔑 when it comes to money
Ronal read was patient , Richard Fuscone was greedy. That’s all it took to eclipse the massive education and experience gap between the two
Do not be greedy when it comes to money
In what other industry does someone with no college degree , no training , no background , no formal experience and no connections massively outperform someone with the best education , the best training , and the best connections ?
Money doesn’t care about your degree
Soft skills are more important than the technical side of money
Finance seen as maths based skills
Savings and Investment
This is true in personal finance where you are told to have a six month emergency fund and save 10 percent ( 10 %) of your salary
It’s not that any of these things are bad or wrong . It’s that knowing what to do tells you nothing about what happens in your head when you try to do it - The Brain
Two topics impact - whether you are interested in them or not ; health or money
Scientific discoveries have replaced doctors old ideas about the human body works and virtually everyone is healthier because of it
The power of science in medicine
But has trial and error taught us to become better with our personal finances ? Are we less likely to bury ourselves in debt ? More likely to save for a raining day ? Prepare for retirement
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