10 finest analogy by Imperial Money (2)

1. 10 10 FROM THE BOOK FINEST FINEST ANALOGY ANALOGY PSYCHOLOGY OF MONEY Imperial Money Pvt. Ltd. Investment Sahi... Future Sahi...

2. 1. We all do Crazy Stuff with Money, always look Emotions versus Facts. The big question is, “Can money buy happiness?” There’s no simple answer. “It seems natural to assume that rich people will be happier than others,” You don’t want to be rich—you want to be happy. Although the mass media has convinced many Peoples that wealth leads to happiness, that’s not always the case.

3. 2. Luck & Risk are Siblings. Success is a Lousy teacher, manage your Money in a Way that helps You Sleep at night. Luck and risk are siblings, they are both the reality that every outcome in life is guided by forces other than individual effort. Be careful when assuming that 100% of outcomes can be attributed to effort and decisions. Focus less on studying specific individuals and more on studying broad patterns.

4. 3. There are many things never worth risking, No matter the potential gains. To grasp why people bury themselves in because you need to study interest rates. You need to study the history of greed, insecurity, and optimism. 4. Building Big Portfolio is not about earning the highest returns however, intuitively helps confound compounding. Optimism is a belief that the odds of a good outcome are in your favor over time, even when there will be setbacks along the way. The simple idea that most people wake up in the morning trying to make things a little better and more productive than wake up looking to cause trouble is the foundation of optimism.

5. 5. Spending Money to show people how much money you have is the fastest way to have less money. If you don’t know why you’re earning and spending money, then you can’t say when you have Enough. So take time to really think about what having Enough means to you. Discuss it with your MUTUAL FUND ADVISOR and explore the idea of Investment

6. 6. Building Wealth has little to do with your income or investment returns & lots to do with your savings The main distinction is that those who make the best predictions have a collection of little ideas and are always incorporating new information into their outlooks. While those making the worst predictions have one grand theory that they trumpet through thick and thin.

7. 7. Aiming to be mostly reasonable works better than trying to be Cordly Rational Not all success is due to hard work, and not all poverty is due to laziness. keep this in mind when judging people, including yourself. 8. Long-term Planning is harder than its seems because people’s goals & desires change over time. Keeping money requires the opposite of taking risks. It requires humility and fear that what you’ve made can be taken away from you just as fast. It requires frugality and an acceptance that at least some of what you’ve made is attributable to luck, so past success can’t be relied upon to repeat indefinitely.

8. 9. Optimism sounds like a sales pitch, pessimism sounds like someone trying to help you. When things are going extremely well, realize it’s not as good as you think. You are not invincible. If you acknowledge that luck brought you success then you have to believe in luck’s cousin, risk; which can turn your story around just as quickly.

9. 10. You should like a risk because it pays off over time. Money can certainly help you achieve your goals, provide for your future, and make life more enjoyable, but merely having the stuff doesn’t guarantee fulfillment. Building wealth has little to do with your income or investment returns, and lots to do with your savings rate. If you view building wealth as something that will require more money or big investment returns, you may become too pessimistic.

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