18 Wealth Lessons From The Psychology of Money

Timecodes:

0:00 - Intro
0:12 - No One’s Crazy
1:18 - Luck & Risk
2:16 - Never Enough
3:04 - Confounding Compounding
4:03 - Getting Wealthy vs. Staying Wealthy
5:00 - Tails, You Win
5:59 - Freedom
6:43 - Man in the Car Paradox
7:03 - Wealth is What You Don’t See
8:01 - Save Money
8:36 - Reasonable vs Rational
9:16 - Surprise!
10:04 - Room for Error
11:11 - You’ll Change
12:09 - Nothing’s Free
13:07 - You & Me
14:01 - The Seduction of Pessimism
15:00 - When You’ll Believe Anything

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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.

[SteveDutton-v]

The measures you take to attain success determine your level of success. Creating sound financial habits, such as setting aside money for reliable investments on a regular basis, is essential to building wealth. It's important to talk about financial management, but most people avoid it, which comes back to bother them later. I hope everyone who reads this has a prosperous life!

[MrTavis]

I told everyone to buy yahoo before alibaba went public, but no one listened. That was my first really big win.

[pj]

When I see someone driving an expensive vehicle, I think, “Wow, I bet they’re drowning in debt.”

[syedatasneemtowhid]

I admire you for the statement "Don't be impressed by false pretentions of wealth". Children are so desperate to look rich, they can go to any lengths, even unethical practices, which ruins them and the system in the long run.

[MeenaHarlow-kxfz]

My dad use to rant at me about how he resented spending so much money on my mom. Now that I’m facing some adult issues these things are in my subconscious. When I spend money I feel a lot of anxiety. Today I went to my chiropractor and discovered these memories and released/integrated them physically through the modality of Neuro Emotional Technique. Now I feel calm and ready to think clearly about purchasing. Psychology is huge and our bodies hold on to everything.

[Erikkurilla]

Ensuring the protection of your capital holds greater significance than solely focusing on making money. This is primarily because once your capital is lost, the process of generating profits becomes significantly more challenging. It is comparable to the notion of "missing the train" versus the irreversible consequence of "losing your money." While there are various opportunities available, once your funds are depleted, it becomes exceedingly difficult to recover.

[Susanhartman.]

Creating wealth entails establishing positive routines, such as consistently setting aside funds at regular intervals for sound investments. Financial management is a vital subject that many avoid, often leading to future regrets.

[jeffpalo]

Beautiful Beautiful Beautiful! I read and finished the book personally but your summary really helped me understand it deeper. Having money to buy Freedom is also one of my favorites! ❤️

[sangel]

Yes I definitely recommend this book and even better to listen to on audible. It puts perspective in you for sure

[thegoodestboi_Monty]

Glad that I found your channel. I've been binge watching and listening to your videos and it has helped me clear my mind about my savings and future investement. My favorite principle that I got from you is to "keep it simple". I also love how simple and straight forward your videos are, no long introductions and no unnecessary informations added. Thanks sir Tae for the advices and looking forward to more learnings from you. Love from the Philippines ❤🇵🇭

[Ckawauchi]

Great video. It's true that freedom is one of the most important things in building wealth. My husband and I have saved up money mainly in 401K and other minor investments for our retirement, which is now. We will spend a portion of it on securing a property in Japan but otherwise, we really have no intention of spending it bc the amounts of money we get fr several different pensions are enough. We've always lived below our means. It is the emotional/psychological security that we will have liquid money just in case. It is one of the factors that contribute to our happiness and contentment at this stage in life. Freedom.

[johna]

I've read over 30 books since the start of COVID and this one's easily my favorite. Great video!

[ashishverma]

Wow!!! That was 16 mins of pure value bomb. Thank you 🙏🏼 😊

[wiltoncuriel]

One of my favorite books. Great summary and video, as always!

[srourfamily]

this is the best financial book for today's life!! A game changer must book to read!!!

[clarkemccormick]

I read this book after it was recommended by my FA 3 years ago.

This book was the single largest factor that changed my financial life and future. I HIGHLY recommend it.

[frankdibiase]

The best review of this book I’ve seen so far!

[santavictorio]

One of the most insightful videos I've ever seen! Thank you!

[SchoolofBalloons]

Good job, man! You’re videos are super well done!

[vvzt]

One of my favorite books of all time, taught me so much