Summary of The Psychology of Money

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Summary of The Psychology of Money

The Psychology of Money by Morgan Housel is a great book that teaches readers how they can grow their wealth today. The book is not complicated like many books that talk about the stock market and do nothing more than confuse the reader and build the writer's ego, but instead, it is filled with the knowledge that the reader can put to use. The book is packed full of wisdom for those who are new to the stock market. This book is not for those who are looking to become billionaires overnight but for those who want to grow their wealth over the long term and enjoy a comfortable life when they are older.
There are plenty of stories about how greedy people have lost fortunes as well. You learn about the mindset of wealth and why that is important. The most important lesson that you will learn in this book is that how well you do with money has nothing to do with how smart you are, but it has everything to do with how you behave. That is why so many rich people end up broke after such a short period. They don’t know how to behave. However, it also means that an ordinary person can grow their wealth if they can learn a few behavioral skills.

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Genre: Business & Economics / Personal Finance / Money Management (fancy, right?)