💵the 20 lessons in The Psychology of Money

everyone's money decisions make sense to them, given their own experience with money. even the weird ones

same actions, wildly different outcomes. survivorship bias, but he's not preachy about it

small numbers held a long time beat big numbers held briefly. Buffett's net worth timeline is the whole argument

different skills. getting rich needs risk, staying rich needs paranoia

the actual point of money, per Housel: control over your own time

nobody's admiring your car the way you think. they're imagining themselves in it

your money plan should let you sleep at night, not win a spreadsheet argument

history doesn't repeat the specifics, so the next crash won't look like the last one. do the math on how many 'unprecedented' ones we've had

plan for the plan being wrong. margin of safety, basically

risk has a price whether or not you see the receipt. volatility is the entry fee for the returns

the more you want something to be true, the less scrutiny you give the story that says it is

his own money habits, including the ones that don't optimize for returns. (not financial advice, just what he does)