The Psychology of Money: Timeless lessons on wealth, greed, and happiness (2020)

With a title like “The Psychology of Money,” you might expect the material within to be dense and heavy. However, the book is extremely approachable and digestible.

If you really care about growing your net worth, investing and making important decisions in your life (why wouldn’t you?), I really recommend this book. It will transform what you think about money and life. Below are a few big ideas from the book. Enjoy!

Go out of your way to find humility when things are going right and forgiveness/compassion when they go wrong. Because it’s never as good or as bad as it looks. The world is big and complex. Luck and risk are both real and hard to identify. Do so when judging both yourself and others.

Less ego, more wealth. Saving money is the gap between your ego and your income, and wealth is what you don’t see. So wealth is created by suppressing what you could buy today in order to have more stuff or more options in the future. No matter how much you earn, you will never build wealth unless you can put a lid on how much fun you can have with your money right now, today.

Excerpt From: Morgan Housel. “The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness.”

Deep Work: Rules For Focused Success In A Distracted World

Deep Work: Professional activities performed in a state of distraction-free concentration that push your cognitive capabilities to their limit. These efforts create new value, improve your skill, and are hard to replicate.

Shallow Work: Non-cognitively demanding, logistical-style tasks, often performed while distracted. These efforts tend not to create much new value in the world and are easy to replicate.

(2) Core Abilities For Thriving in Today’s Economy:

  1. The ability to master hard things quickly
  2. The ability to produce at an elite level, in terms of both quality and speed

“I build my days around a core of carefully chosen deep work, with the shallow activities I absolutely cannot avoid batched into smaller bursts at the peripheries of my schedule. Three to four hours a day, five days a week, of uninterrupted and carefully directed concentration, it turns out, can produce a lot of valuable output.” – Cal Newport

32: 3 Rules for Successful Real Estate Investing with Marco Santarelli

Marco Santarelli Passive Turnkey Real Estate Investing EPISODE 32 – February 2019 I do plan on becoming an active real estate investor as a means of wealth creation in the near future. That’s exactly why I was excited interviewing Marco Santarelli on the podcast. Marco said the #1 thing to do in order to become […]