Allison on Nostr: How to play the Money Game better? 1, the investment does not need to be 100% correct ...
How to play the Money Game better?
1, the investment does not need to be 100% correct all the time, but it needs to stay on the table. Some jobs require you to be perfect every time, like being a pilot. But in investing and money management, even if you're wrong half the time, you still win in the end, and that's a tail win.
Brad Pit said, "I've been making movies for 30 years, some will work, some won't, there's no need to go into which ones will work, just keep making them."
2. The Industrial Age If your job was to build cars, the moment you left the factory you couldn't work.
But most work these days is mental - your tool is your brain, and it keeps working even after you go home.
We feel less in control of our time, which is why we are richer now, but more anxious.
3. The superior form of wealth is to wake up every morning and say: Today I can do whatever I want to do.
4. Wealth exists when you have not yet made a purchase decision. Its value lies in the choice, flexibility, and room for growth it gives you to buy more things in the future than you can buy now.
If you spend money on things, you'll end up with those things, not wealth.
5. The accumulation of wealth has little to do with your investment returns or income, but a lot to do with your savings rate.
6. In investing, success comes with a price - volatility and losses in the context of long-term growth - and a readiness to pay for it. Think of volatility as a ticket to long-term investment.
7. Progress happens too slowly to be noticed, but setbacks occur too quickly to be ignored. It was four and a half years after the Wright brothers built their plane that journalists reported on it.
1, the investment does not need to be 100% correct all the time, but it needs to stay on the table. Some jobs require you to be perfect every time, like being a pilot. But in investing and money management, even if you're wrong half the time, you still win in the end, and that's a tail win.
Brad Pit said, "I've been making movies for 30 years, some will work, some won't, there's no need to go into which ones will work, just keep making them."
2. The Industrial Age If your job was to build cars, the moment you left the factory you couldn't work.
But most work these days is mental - your tool is your brain, and it keeps working even after you go home.
We feel less in control of our time, which is why we are richer now, but more anxious.
3. The superior form of wealth is to wake up every morning and say: Today I can do whatever I want to do.
4. Wealth exists when you have not yet made a purchase decision. Its value lies in the choice, flexibility, and room for growth it gives you to buy more things in the future than you can buy now.
If you spend money on things, you'll end up with those things, not wealth.
5. The accumulation of wealth has little to do with your investment returns or income, but a lot to do with your savings rate.
6. In investing, success comes with a price - volatility and losses in the context of long-term growth - and a readiness to pay for it. Think of volatility as a ticket to long-term investment.
7. Progress happens too slowly to be noticed, but setbacks occur too quickly to be ignored. It was four and a half years after the Wright brothers built their plane that journalists reported on it.