Support our channel by getting The Psychology of Money via the affiliated link here: [ Ссылка ]
Within the past week,
I have Read The Psychology of Money, by Morgan Housel, and in this video, I will be going over What Will Make You Rich. I be will going over 7 essential steps that you can take to have a better financial relationship with your personal finances and investment portfolios. It's not going to be a direct tutorial on how to get rich, but these financial principles will keep you wealthy once you've earned, just save and invest your money.
Ronald Read was a janitor for most of his life, and after he passed away in 2014, he had an accumulated wealth of 8 million dollars in savings. He didn't inherit the money from Elon Musk nor did he win the lottery. The key was that he saved consistently throughout his life, while letting the power of compound interests and long term investing work its magic.
The moral of the story is that your behavior with money is more important than how smart you are or what your current source of income/job is. Even if you don't work on Wall Street or have a college degree, you can still get rich. Even when being stuck, working a minimum wage job for the rest of your life. Given enough time and financial discipline, you will eventually become rich and grow your wealth.
This is I Read The Psychology of Money, by Morgan Housel. Here's What Will Make You Rich
Billy Boi
0:00 Intro
1:36 1. Determine your Financial Goals
6:23 2. Set your Financial Goals
12:17 3. Develop a consistent Saving Habit
18:28 4. Rich vs Wealth
21:57 5. Leave room for Error(s)
25:53 6. Develop the Right Mindset for Investing
35:40 7. Invest in Stocks Safely and Patiently
38:36 Let's build Wealth together!
Billy Boi and affiliates and related parties do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.
Legal Disclosure: I’m not a financial advisor. The information contained in this video is for entertainment purposes only. Before investing, please consult a licensed professional. Any stock purchases I show on video should not be considered “investment recommendations”. I shall not be held liable for any losses you may incur for investing and trading in the stock market in an attempt to mirror what I do. Unless investments are FDIC-insured, they may decline in value and/or disappear entirely. Please be careful!
