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- Herausgeber: Ben Business Group LLC
- Kategorie: Fachliteratur
- Sprache: Englisch
- Veröffentlichungsjahr: 2021
Summary of The Psychology of Money
The Psychology of Money by Morgan Housel is a great book that teaches readers how they can grow their wealth today. The book is not complicated like many books that talk about the stock market and do nothing more than confuse the reader and build the writer's ego, but instead, it is filled with the knowledge that the reader can put to use. The book is packed full of wisdom for those who are new to the stock market. This book is not for those who are looking to become billionaires overnight but for those who want to grow their wealth over the long term and enjoy a comfortable life when they are older.
There are plenty of stories about how greedy people have lost fortunes as well. You learn about the mindset of wealth and why that is important. The most important lesson that you will learn in this book is that how well you do with money has nothing to do with how smart you are, but it has everything to do with how you behave. That is why so many rich people end up broke after such a short period. They don’t know how to behave. However, it also means that an ordinary person can grow their wealth if they can learn a few behavioral skills.
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⁃ An Analysis
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Table of contents
SUMMARY of The Psychology of Money
Introduction
Summary of Chapter One
Summary of Chapter Two
Summary of Chapter Three
Summary of Chapter Four
Summary of Chapter Five
Summary of Chapter Six
Summary of Chapter Seven
Summary of Chapter Nine
Summary of Chapter Eleven
Summary of Chapter Twelve
Summary of Chapter Thirteen
Summary of Chapter Fourteen
Summary of Chapter Fifteen
Summary of Chapter Sixteen
Summary of Chapter Seventeen
Summary of Chapter Eighteen
Summary of Chapter Nineteen
Summary of Chapter Twenty
Conclusion
SUMMARY of The Psychology of Money
by Morgan Housel - Timeless Lesson on Wealth, Greed, and Happiness - A Comprehensive Summary
SUMMARY of The Psychology of Money
The Psychology of Money by Morgan Housel is a great book that teaches readers how they can grow their wealth today. The book is not complicated like many books that talk about the stock market and do nothing more than confuse the reader and build the writer's ego, but instead, it is filled with the knowledge that the reader can put to use. The book is packed full of wisdom for those who are new to the stock market. This book is not for those who are looking to become billionaires overnight but for those who want to grow their wealth over the long term and enjoy a comfortable life when they are older.
There are plenty of stories about how greedy people have lost fortunes as well. You learn about the mindset of wealth and why that is important. The most important lesson that you will learn in this book is that how well you do with money has nothing to do with how smart you are, but it has everything to do with how you behave. That is why so many rich people end up broke after such a short period. They don’t know how to behave. However, it also means that an ordinary person can grow their wealth if they can learn a few behavioral skills.
Here is a Preview of What You Will Get:
⁃ A Full Book Summary
⁃ An Analysis
⁃ Fun quizzes
⁃ Quiz Answers
⁃ Etc
Get a copy of this summary and learn about the book.
Ben Business Group LLC© Copyright 2021 - Present. All rights reserved. This document is geared towards providing reliable information in regards to the topic and issue covered. The publication is sold with the idea that the publisher is not required to render accounting, officially permitted, or otherwise, qualified services. If advice is necessary, legal, or professional, a practiced individual in the profession shall be ordered.
- From a Declaration of Principles which was accepted and approved equally by a Committee of the American Bar Association and a Committee of Publishers and Associations.
In no way is it legal to reproduce, duplicate, or transmit any part of this document in either electronic means or in printed format. Recording of this publication is strictly prohibited and any storage of this document is not allowed unless with written permission from the publisher. All rights reserved.
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Respective authors own all copyrights not held by the publisher.
Introduction
TABLE OF CONTENTS
Introduction
Chapter by Chapter Summaries
Summary of Chapter One
Summary of Chapter Two
Summary of Chapter Three
Summary of Chapter Four
Summary of Chapter Five
Summary of Chapter Six
Summary of Chapter Seven
Summary of Chapter Eight
Summary of Chapter Nine
Summary of Chapter Ten
Summary of Chapter Eleven
Summary of Chapter Twelve
Summary of Chapter Thirteen
Summary of Chapter Fourteen
Summary of Chapter Fifteen
Summary of Chapter Sixteen
Summary of Chapter Seventeen
Summary of Chapter Eighteen
Summary of Chapter Nineteen
Summary of Chapter Twenty
Conclusion
The Psychology of Money by Morgan Housel is a great book that teaches readers how they can grow their wealth today. The book is not complicated like many books that talk about the stock market and do nothing more than confuse the reader and build the writer's ego, but instead, it is filled with the knowledge that the reader can put to use. The book is packed full of wisdom for those who are new to the stock market. This book is not for those who are looking to become billionaires overnight but for those who want to grow their wealth over the long term and enjoy a comfortable life when they are older.
There are plenty of stories about how greedy people have lost fortunes as well. You learn about the mindset of wealth and why that is important. The most important lesson that you will learn in this book is that how well you do with money has nothing to do with how smart you are, but it has everything to do with how you behave. That is why so many rich people end up broke after such a short period. They don’t know how to behave. However, it also means that an ordinary person can grow their wealth if they can learn a few behavioral skills.
Summary of Chapter One
Chapter by Chapter Summaries
Summary of Chapter One
In chapter one of the book, called “No One’s Crazy,” the author begins by talking about the crazy things that people do with money. Everyone does crazy things with their money, but the truth is that no one is crazy. Everyone has a different opinion about how money should be handled depending on what generation they came from and how they were raised. They all have their own experiences of the world, and that affects how they think money should be spent. Your experience with money only makes up about 1/100millionth of what has happened in the entire world but about 80% of what you think other people should do with their money.
Take the Depression, for example, you have no firsthand knowledge of the Depression, so how can you even try to fathom why someone who grew up during that time would refuse to own stock or would at this time discourage their grandchildren from purchasing stock? They would believe that purchasing stock is crazy.
Every single experience that you had with money as you were growing up will affect how you invest when you are an adult now. Sure, someone might say it is crazy, but they did not have the same experiences that you did. People simply take the information that they have, and they use it. Sure, they can have incomplete information, and they can be using bad math or have no clue what they are doing. But every single financial decision they are making makes sense to them. They will tell themselves a story that is shaped by their experiences.
Summary of Chapter Two
Chapter two is called Luck & Risk; in it, the author Morgan Housel begins by stating that nothing is as bad or as good as it seems. According to Housel, risk and luck are nothing more than siblings. One or the other will happen in every situation in life.
Morgan talks about Bill Gates had gone to one of the only high schools in the entire world that had a computer at the time. The fact that Lakeside had a computer was amazing, but even more amazing was that Bill Dougall was able to petition the Lakeside Mothers Club to spend about $3,000 from their annual rummage sale to lease the computer is even more amazing. The computer was then hooked up to a General Electric mainframe terminal for computer timesharing.
Bill Gates was only 13 years old at the time, and he met Paul Allen, who was also obsessed with the computer at school. The computer was not part of the curriculum at Lakeside. Instead, it was an independent study. Both Bill and Paul would spend their leisure time learning as much as they could about it. At the same time, Bill had a friend named Kent Evans. He was just as interested in computers and just as talented as Bill and Paul.
In fact, at one point, Lakeside could not figure out how to put together class schedules in a way that ensured the hundreds of students had the classes that they needed at the times that they needed while making sure that they were not conflicting with other students and went to Kent and Bill to write a program to solve the problem.
