The Psychology of Money by Morgan Housel

Book Summary: The Psychology of Money by Morgan Housel

The Book in A Few Sentences

Success in finance is mostly a result of low spending, high savings, time and compounding. But if you get wiped out financially, you will not be able to take advantage of time and compounding. Investing in stocks is very difficult, therefore most people would benefit from investing in low-cost index funds.

The Psychology of Money summary

This is my book summary of The Psychology of Money by Morgan Housel. My notes and summary include the key lessons and most important passages from the book.

Introduction: The Greatest Show On Earth

2: Luck & Risk

3: Never Enough

4: Confounding Compounding

5: Getting Wealthy vs. Staying Wealthy

6: Tails, You Win

7: Freedom

8: Man in the Car Paradox

9: Wealth is What You Don’t See

10: Save Money

11: Reasonable > Rational

12: Surprise!

13: Room for Error

14: You’ll Change

15: Nothing’s Free

16: You & Me

17: The Seduction of Pessimism

18: When You’ll Believe Anything

19: All Together Now

20: Confessions

Postscript

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