The Psychology of Money by Morgan Housel — Book Review

A quick breakdown of the top lessons, what I didn’t like, and more.

The Psychology of Money — Book review
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So much to learn from this book! I loved how the author emphasized leading a life with humility and moderation. I honestly felt like I was listening to my dad talk to me about money (lol). Some things from the book were very thought-provoking, like —

(1) There’s a difference between the wealthy and the rich. The rich go out of their way to show that they are rich, but the wealthy largely have a lot of their money and assets hidden.

(2) Money should be earned to earn independence. Independence to do what we want, when we want, and how we want. That is the ultimate goal of acquiring wealth in a world where everyone’s falling short on time while being stuck in the rat race to get to the next goal.

(3) We need to stop moving the goal post. There’s always going to be a next thing to purchase or another person who’s doing much better than us. We should spend some time understanding what our goal posts are, and then learn to relax once we’re on our journey to get there.

Gave it a half star less because I thought it got kinda draggy in the middle, and honestly, I would have liked his personal investing strategies to have featured earlier in the book because I learned SO much from that chapter. But otherwise, excellent read and I’d definitely recommend this to anyone looking to invest in alignment with their personal goals.

Uttara Shekar is the author of “The Startup Leap: Finding Structure in the Chaotic Journey of Startup Building”. She writes for fun and codes for money. [Website — www.uttarashekar.com]