Morgan Housel's insightful book, "The Psychology of Money," offers valuable lessons on wealth, greed, and happiness.
While money is essential, true wealth lies in the freedom and flexibility it provides. It's about having control over your time and choices.
Many successful investors attribute a portion of their success to luck. Recognizing this can help prevent overconfidence and foster humility.
Consistent, long-term investing can yield substantial returns due to the power of compound interest. Patience and discipline are key to maximising this effect.
As your income increases, resist the urge to spend more. Maintain a frugal lifestyle to accumulate wealth and build an emergency fund.
Understand your comfort level with risk and invest accordingly. Avoid chasing high returns that may not align with your financial goals and risk tolerance.