How We Relate to Money Shapes Our World
If you want to know what lower-income groups will eventually spend their money on, look at what high-income groups are doing today. (The mainstream consumer market of the future)
People like to imitate others, especially those who seem to be living a better life. It’s always been this way, and it always will be. (Content-driven sales)
Spending money "on yourself" is often about influencing what others think. Whose opinion are you trying to shape, and why do those people matter?
A good investment doesn't necessarily mean making great decisions—it means consistently avoiding catastrophic mistakes. Because making money is one thing; keeping it is another.
Compound interest only works when you can provide consistent annual growth to your assets. Ten years can bring meaningful change, and fifty years can create something truly extraordinary.
Author's book: The Psychology of Money
