The Psychology of Money

Wealth is what you don't see: the trips not taken, the upgrade declined, the calm compounding.

Doing well with money has little to do with how smart you are. It's behavior. That stung and freed me.

Ronald Read the janitor died with millions. The brokers never mention him at lunch.

Tail events drive everything, a tiny number of moments make most of your returns. So just keep showing up.

Enough is not too little. Knowing what's enough is the hardest finance course.

The biggest single point of failure is relying on a paycheck. optionality is the real salary.

Long tails, everything interesting in finance lives there. Buffett's fortune is time, not picks.

Room for error is the most underpriced asset. I bought some and slept better.

Save without a reason. Reasons change; the habit doesn't.

Carried out of it: the goal isn't rich, it's control over your own time. That's the actual currency.