Notes: The Psychology of Money
The big takeaway from ice ages is that you don't need tremendous force to create tremendous results.The Psychology of Money Introduction: The Greatest Show on Earth Money has little to do with how smart you are and a lot to do with how you behave. That's how a techie, who got rich by inventing a wifi router, spends money and soon gets insolvent. On the other side, Ronald Reed, former janitor left 2 million to his step kids and 6 million to charity. There was no lottery win, he saved what little he could and invested; then waited for decades on end, as tiny saving compounded into more than 8 million. In what other industry does someone with no college degree, no training, no background, formal experience and no connections massively outperform someone with the best education/training/connections. We are taught money too much like physics and not enough like psychology (with emotions and nuance). Chapter 1: No one’s crazy Your personal experiences with money make up may...