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The Psychology of Money
Timeless lessons on wealth, greed, and happiness by Morgan Housel
Spending money to show people how much money you have is the fastest way to have less money.
What if reaching your money goals isn’t the answer—but the problem?
In The Psychology of Money, Morgan Housel examines how emotions and personal biases influence our financial decisions. Through 19 engaging stories, he demonstrates that behavior often outweighs technical knowledge in achieving financial success.
🗽Will you be in New York next week?
Join us for a Nonfiction Reading Party we’re hosting with Alex & Books.
You’ll get to:
📖 Read your book
🕺 Meet interesting people
📚 Walk away with actionable ideas from multiple books
Logistics:
📆 Wednesday, April 16
🕰️ 6:00-8:00 PM
🏢 OFFSITE: NYC’s most evocative corporate meeting venue (located near Bryant Park in Midtown Manhattan)
What is a Reading Party?
Here’s what we learned from Alex’s last Reading Party. He breaks down what worked well and what we’re changing. If this sounds interesting, grab your ticket now.
Note: Alex charged for a ticket to his last event, but we’re making this one FREE for Slightly Smarter readers.
There’s only 35 spots available, so grab yours now. I’d love to see you there!
—Scott Johnson, co-founder of Slightly Smarter
SMARTEST TAKEAWAYS
Mastering Your Money Mindset
1️⃣ Recognize the Role of Luck and Risk: Success isn't solely a result of hard work; luck and risk play significant roles. Acknowledging this helps maintain humility and perspective in financial endeavors.
2️⃣ Embrace the Power of Compounding: Achieving "pretty good" returns consistently over a long period often leads to greater wealth than chasing high returns sporadically. Patience is a key financial virtue.
3️⃣ Prioritize Freedom Over Luxury: The highest form of wealth is the ability to wake up and say, "I can do whatever I want today." Financial independence offers more lasting satisfaction than material possessions.
INSIGHTFUL EXAMPLE
The Janitor Who Quietly Built an $8 Million Fortune
Ronald Read, a janitor and gas station attendant from Vermont, shocked the world when he left behind an $8 million estate. He lived simply—driving a used car, patching his clothes—but consistently invested in blue-chip stocks over decades.
His secret wasn’t a high salary—it was patience, discipline, and a deep understanding of the power of compounding. His story proves that smart money behaviors can outshine a big paycheck.
BOOK FACTS
The Psychology of Money
First Published: September 8, 2020
Print length: 256 pages
Listening length: 5:54
Ratings: 4.7 Amazon, 4.3 Goodreads
Turn saving into a game with this premium wooden Cash Vault Box — no assembly needed, goal-tracking stickers included, and perfect for kids and adults alike to hit financial goals while having fun.
WORTH WATCHING
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