From Burton Malkiel's "A Random Walk Down Wall Street." What is the most important driver in the growth of your assets? "The harsh truth is that the most important driver in the growth of your assets is how much you save, and saving requires discipline. Without a...
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“I will teach you to be rich” by Ramit Sethi
Form Amazon's description "Buy as many lattes as you want. Choose the right accounts and investments so your money grows for you—automatically. Best of all, spend guilt-free on the things you love. Personal finance expert Ramit Sethi has been called a “wealth wizard”...
Key Takeaways from “I will Teach you to be Rich.”
From Ramit Sethi's book "I will teach you to be rich" How is weight and health related to money? "In the ten years since I wrote my book, weight and health have become such controversial topics that I was advised to delete my references to them. But after my own...
“All About Asset Allocation” by Rick Ferri
From Amazon's description: "All About Asset Allocation offers advice that is both prudent and practical--keep it simple, diversify, and above all, keep your expenses low--from an author who both knows how vital asset allocation is to investment success and, most...
What are Sonja Lyubomirky’s top tips for Happiness?
From Sonja Lyubomirky’s book “The How of Happiness” Why are we so poor at attaining happiness? "If permanently boosting our happiness is so attainable, so within reach, why, you might ask, are we so poor at it? Why do we try so often and fail? The prime reason, I...
Enshrine your core priorities.
From Chip Heath's book "Decisive" Enshrine your core priorities. "By identifying and enshrining your core priorities, you make it easier to resolve present and future dilemmas." Examples: "Ramirez continued to agonize about the decision until, eventually, she realized...
Create a precommitment contract
From Annie Duke's book "How to Decide" Create a precommitment contract. Precommitment Contract (also known as Ulysses contract)- “An agreement that commits you in advance to take or refrain from certain actions, or raising or lowering barriers to those actions.Such...
The things you think will make you happier, won’t.
From Sonja Lyubomirky’s book “The How of Happiness” The things you think will make you happier, won't. Being Wealthy Won't Make You Much Happier. "Very wealthy people have a great deal more than the average person, but the research shows that they are not much...
Entrepreneurial Delusions
From Daniel Kahneman's book "Thinking Fast and Slow" Entrepreneurial Delusions. "The chances that a small business will survive for five years in the United States are about 35%. But the individuals who open such businesses do not believe that the statistics apply to...
Correcting your Predictions
From "Noise" by Daniel Kahneman Appendix C- Correcting Predictions (p. 360) "We make matching predictions when we rely on the information we have to make a forecast and behave as if this information were perfectly (or very highly) predictive of the outcome." "Recall...