15 Best Quotes from Psychology of Money – Morgan Housel

Psychology of money

Book – The Psychology of Money

Author – Morgan Housel

People should make investment decisions based on their goals and the characteristics of the investment options available to them at the time.

Be careful who you praise & admire. Be careful who you look down upon and wish to avoid becoming.

Success is a lousy teacher. It seduces smart people into thinking they can't lose.

Good investing is not necessarily about making good decisions. It's about consistently not screwing up.

Getting money is one thing. Keeping it is another.

You can be wrong half the time and still make a fortune.

Controlling your time is the highest dividend money pays.

Spending money to show how much money you have is the fastest way to have less money.

Having more control over the time and options is becoming one of the most valuable currencies in the world.

Nothing's free. Everything has a price, but all prices appear on labels.

Beware taking financial cues from people playing a different game than you are.

If you want to do better as an investor, the single most powerful thing can do is increase your time horizon.

No one is impressed with your possessions as much as you are.

The first rule of compounding is to never interrupt it unneccessarily.

Long-term planning is harder than it seems because people's goals and desires change over time.

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