The Psychology of Money quotes

“Housel opens with a deceptively simple claim: no one is crazy with money.”

“Housel argues that luck and risk are siblings: both are the reality that every outcome in life is guided by forces other than individual effort.”

“His answer is that the hardest financial skill is getting the goalpost to stop moving.”

“Of Buffett's many billions, the overwhelming majority was earned after his mid-sixties.”

“Housel draws a sharp distinction between two different skills that look like one: getting wealthy and staying wealthy.”

“Housel devotes this chapter to a statistical truth with enormous financial consequences: a small number of events account for the majority of outcomes.”

“Housel makes a clear, almost philosophical claim in this chapter: the highest dividend money pays is the ability to control your time.”

“Housel opens this chapter with a sharp observation about status and possessions, captured in what he calls the man in the car paradox.”

“The visible display is a form of generosity toward the observer's imagination, not evidence of the owner's actual financial strength.”

“Housel's central claim is bracing in its simplicity: building wealth has less to do with your income or your investment returns than with your savings rate.”

“There's a difference between the best plan in theory and the best plan you can actually follow, and Housel builds this chapter around that gap.”

“Housel's central claim is that surprises are not anomalies to be forecasted around; they're the baseline condition of economic history.”