How To Get Rich vs. Stay Rich (The Psychology of Money Summary by Morgan Housel') | Book Review

Why a janitor can beat a Harvard MBA at investing, and why "enough" is the hardest financial skill to master.

In this episode, we dive into Morgan Housel's The Psychology of Money. Most people think financial success is about math, formulas, and IQ. But as Housel explains, doing well with money has little to do with how smart you are and a lot to do with how you behave.

We explore the incredible story of Ronald Read, a janitor who amassed an $8 million fortune, and compare him to Richard Fuscone, a Merrill Lynch executive who went bankrupt because he couldn't control his greed.

Key Lessons Covered:

• Luck & Risk: Why Bill Gates and his friend Kent Evans are two sides of the same coin.

• The Man in the Car Paradox: Why no one is impressed with your Ferrari as much as you are.

• Wealth is What You Don't See: The difference between being "Rich" (spending) and "Wealthy" (not spending).

• The Power of Compounding: How Warren Buffett accumulated $81.5 billion after he qualified for Social Security.

• Freedom: Why control over your time is the highest dividend money pays.

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