The Psychology of Money

The Psychology of Money

2020 • 256 pages

Ratings112

Average rating4.3

15

This book was incredible. Short chapters but each packed with concise well-written statements that distilled important concepts into something you can immediately grasp. I don't love reading about finance, but I do love psychology, and the marriage of these two angles was done incredibly well.

It also helps that I have the exact same goals/expectations and financial strategy as the author, because I know we're coming from the same place (an extremely important idea he covers in Chapter 16). It's only the last chapter where he gives an overview of what he does personally; the rest of the book is a primer on larger principles.

Do NOT skip the Postscript on US history. In a few pages he summarizes why we ended up here in the most succinct way. That section alone should be required reading.

TLDR; don't read this book for specific investment advice. Do read it to absorb core principles that will help you make better decisions about your finances, and potentially much more.



Gratuitous mashup example: this feels like taking Jon Kabat-Zinn's Wherever You Go There You Are, Daniel Kahneman's Thinking Fast & Slow, Ray Dalio's Principles and some Seth Godin, then mashing them into a single book about financial decision making. A great book to read a chapter or two out of often. It feels like a series of blog posts that became a book, but in the best possible way.

March 8, 2023Report this review