The Lessons That Made “The Psychology of Money” So Legendary
And how to apply them to your life
I consider myself something of a personal finance nerd.
After all, I’ve written freelance on the topic, have my own blog, built my own spreadsheets, used all the tools, and read a bunch of books.
When it comes to Personal Finance, my standards are pretty high. That makes it all the more refreshing when I come across something that truly blows me away. And I’m happy to say that The Psychology of Money by Morgan Housel blew me away.
Instead of talking about the book in general terms, I think it would be more helpful to dive right into some of the big ideas that make The Psychology of Money such a worthwhile read.
Personal Finance is a Soft Skill
In the book’s introduction, Housel contrasts the stories of two men: Ronald Read and Richard Fuscone. These two men were as different as it gets. Ronald Read spent part of his career working at a gas station and part working as a janitor. Richard Fuscone was more traditionally successful: MBA from the University of Chicago, went to Harvard Business School, became an executive at Merrill Lynch.
Who do you think declared bankruptcy and who amassed a personal fortune of $8…
