20 Lessons From The Psychology of Money That Changed How I Think About Money
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- เผยแพร่เมื่อ 10 มิ.ย. 2024
- These are 20 lessons from The Psychology of Money That changed my life and how i think about money and my finances.
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What financial books changed your life?
FPU - Dave Ramsey, Randy Alcorn Money Posessions and Eternity, Larry Burkett (My favorite) - worked at Ramsey and Ran 401k plans prior to being saved. Hope these are helpful.
The Millionaire Mind by Thomas J. Stanley
Millionaire next door
Your money or your life and the automatic millionaire
Os Axiomas de Zurique e A bola de neve: Warren Buffett e o negócio da vida....sou brasileiro e não entendo nada de ingles, estou usando o tradutor....terceiro ou quarto video q assisto...
To anybody who's reading this, I pray that whatever is hurting you or whatever you are constantly stressing about gets better. May the dark thoughts, the overthinking, and the doubt exit your mind. May clarity replace confusion. May peace and calmness fill your life.
Thanks 💕
You as well, my friend!
THANK YOU. GOD BLESS YOU>
@@michellemyers9800 ❤
Amen
Thank you for keeping it clean and not swearing. I watch this stuff with my kids and I never need to stop or change your content because it’s not junked up with trashy talk.
I read (and reread twice) “The Psychology of Money” and it is one of the best books I have ever read, and not just the best book on finance I have ever read. I can’t recommend it enough. Reading it is a life changer.
This video is an excellent retelling of the lessons in the book - well done, Gabe!
I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market. and the Federal Reserve taking a more hawkish approach to interest rates and bond purchase tapering, a correction is underway.
The market always goes up, If you go long against the market you'd make such success.
I grew to a 7 figure well-diversified portfolio. I only buy quality firms, anticipate to hold them regardless of what happens, pay up but not too much, keep track, sell only when necessary, and be ready to course correct. also ignore the forecasts and market views which are at best entertaining but completely useless. ever grateful to Olivia Maria Lucas my F.A... she is super helpful to a lot of beginners out there.
Olivia Maria Lucas really seem to know her stuff. I found her website, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her.Based on her résumé, Olivia Maria Lucas appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her
I understand that more love and less ego gives a resounding attraction to financial stability and I have managed my time effectively, diversified my source of income under my CFA and it is the best way to grow and sustain wealth. 11yrs in investing space and extremely pleased with the decision I made. The good news, it’s not too late
Congrats! I'm fascinated with investing, I am single and juggling all these things are quite difficult. Invested in few sectors but haven't seen any profit yet. Do you think I'm missing out something?
Right now the markets are going berserk right now. This is the best time to watch them, get to know them better, and strike when the opportunity presents itself. I learned that from my mentor, ’LISA MICHELLE PACILLAS’ she's seen dozens of market cycles over the past few decades, and she has a feel for how they move, why they move, and what comes next.
LISA MICHELLE PACILLAS seems to really know her stuff. I found his page online, read his resume, education, qualifications and it was really impressive. She's a fiduciary who will act in my best interest
You are so right! I am wealthy not because I have millions but because I am happily retired, debt free, able to eat and live comfortably, able to find joy in simple things. Thanks for reminder.
Will you still be when the dollar crashes?
@@theman3456 Only the good Lord knows but I trust Him!
The chapter about "enough" is what I liked the best about Psychology of Money. Years ago I read a fiction book called In A Class of Their Own by Millie Gray. This book tells the story of the Campbell family from 1936-1952 in Leith, Scotland. The book is a collection of stories about how the Campbells survived in a time when there was little government assistance, minimum wage or access to credit. Possessions were limited and often pawned when there was a financial crisis in the household. This book reminds me of true tough times and not my perceived notion of what is a tough time.
you'r video's are very helpfull thank you for the effort.
“By not understanding money, the vast majority of people allow its awesome power to control them.” - Robert Kiyosaki
I’m in debt my dad gave me drugs and I ended up an addict but I’m sober now 3 years this oct
This was so helpful, especially the tip about no one looks an something cool and thinks you're cool, they think they'd look cool with it : )
Your point on "YOU ARE NOT ME!" is one of the best points ever made in the world of finance, even finance gurus don't know this.
I get your point about negativity selling, but that's really true in the example you gave. All the endless articles about the next 10x stocks to buy or the 5 cryptos that will 100x your money show that it's not just negativity that sells. I think it's more that strong emotions sell, and negativity is an easy way to generate those. But greed is also a strong emotion, and those articles about how this stock or crypto will 10/100x your money will sell as well.
I’m really enjoying embracing what is practical rather than chasing distractions. I’m changing my whole mindset to build stability for myself and make more space for freedom and a sense of calm. Thank you for another thoughtful and insightful video. ❤
4:30 “Focusing on building freedom in your life”
Definitely agree with this. Having control over how you spend your time is very, very important and one of the key elements of your overall happiness.
this video is everything. the editing, the delivery, the humor, and wisdom bombs
thanks you bro, the fact that they are so practical so we can apply in real life rather than just theories
Yep I never watch the news. I stopped after 9/11 I noticed my mood was low for obvious reasons. But weeks and months later after watching the news daily I was kept low. I couldn’t pull myself out of it. Once I stopped watching it my mood improved tremendously. Not that I don’t still grieve for that horrendous event back then, I just am not wallowing in fear and sadness since I don’t watch the news anymore. Great vid.
Just finished the audible, great and quick listen. Thanks for the summary.
You’re videos are getting better and better. Well done.
Less ego, more wealth. LOVE! Thanks for this rich wisdom-packed video!
Great video! Love “Saving money is the gap between your ego and your income”
I have to say, I really liked your video. I don't often leave comments, but when I do, it is with the scope of encouraging the creator of keeping on the same good path!
I enjoyed every bit of your video.🤭 Thanks for putting the lessons together. ✌️
your review about the psycology of the money is one the best that i have watched on youtube . it is practical and easy to understand . i hope you will keep reviewing some books from different subjects too.
Love your content and filming style 💗
Thanks Gabe for your realistic viewpoint, very helpful.
Glad you enjoyed it
This is the first time I have watched one of your videos. Thanks for sharing your perspective. I agree "enough is enough".
I am retired and financial at ease. I saved, invested in low cost S&P mutual funds, bought a rental house, took Social Security at age 70. These steps worked.
May we live with ease. 🙋
Thank you so much. Great job 👏
Your video creating and editing skills are really growing. As is your storytelling skill. Well done. Committing to the long game has really worked for you.
Great video brother! A lot of great lessons shared.
Been binging your videos you're a true G appreciate you
Man, your B roll is fire! Where someone else might buy stock footage, you’re making yours and it’s looking great! Good synopsis of the book as well👍🏽
Awesome advice & video, thank you Gabe!
Love it! Practical wisdom. So far, best book I’ve read on money is The Millionaire Next Door. Loved it! Psychology of Money will be my next book. This education is priceless at any age!
After watching this- brought the book 📖 coming tomorrow. Can't wait to have a read. Xx
I am so glad I stumbled upon your channel! I love the simplicity and resonance of your message and your authenticity and affable nature, a delight. Thank you, for doing what you are doing and enriching us all, mentally and financially!
Such a great compilation of insights here, wish I got into index investing earlier instead of trying to pick stocks... But you live and you learn, better late than never!
great advice, and i wanted to say you'r video's really changed my life in many ways, thank you.
Yes, subscribing to your channel has an up side.😊 Thanks for the content.
Transitions were on point... oh, and the content was good too. 🔥
I really enjoyed this book. I definitely recommend it. I came across it in our buildings' free library and it was a great find.
Now I want to read this book too. Really good video!
If you're reading this, I hope you find all the success you deserve in life! Have a great day today! 💛
Subed! Im rooting for your tesla haha 😂 loving the way you edit too! And this video provides so much insight 🎉
Thanks for the breakdown LOVE LOVE LOVE!!!! That white brick wall 😍😍😍😍
I like the video before I watch it... Amazing content 👍
it's true. we have so much. feel proud you worked for it (at the same time)
Very helpful content. Thank you for sharing. I have subscribed
Imagine starting investing at the age of 10! Woah. Books such as these can truly help change our perspective on money. Worth to buy.
Oh I just bought the audiobook, Can't wait to go through it.
Thank you 🙏
Great information. As always, thank you Gabe.
Glad you enjoyed it
This is one of my favourite finance books 😊
Excellent!
Your best video so far in my opinion 😊
Great book and great recap of the book sir.
Buy the S&P 500 through Vanguard and forget about it!!! Keep it simple. Speculative funds should be separate.
Love the kind of person you are! Watched a lot of your videos lately. No bullshitting of how to get rich fast or how to start your next business. Just sheer focus. Keep it on. Really like what you are doing and all the best for your journey to 500k! Greetings from Regensburg, Germany
Thanks for recapping the book
Thanks for watching
Thanks for the advice.
Great video content ❤
Impecable!!!!
Wow! This video nailed it visually and psychologically. You’re excellent youtuber. In return, I’ve liked and subscribed 🎉
Thank you
Great advise
Thanks Gabe, your delivery style is so easy going that has made financial education more interesting. You present the information in a way that makes me feel empowered to understand and achieve my own goals! I have made the shift from a “spender” mindset to a “saver” towards my own definition of financial freedom!
@hallie matilda
came across the comments about Expert Eunice Berthold and I must say she is a genius. I have made huge profits from my investments with her. Her trading strategies are top notch coupled with the efforts she puts in work to make profits.
One of the top 5 best financial books I've ever read. Really good stuff
Just read this book, great read!
This book will be on my next to read list (and possibly make a video on it🙏)
Been collecting dust on my shelf😅
Hi Gabe! I just found your channel and subscribed. I teach college success and have already used your 20 tips from Atomic Habits video. This concept of finding info on the internet that supports what you believe is called confirmation bias. It's one of the most dangerous things about the internet.
Thanks for the psychology of money recommendation. Do you have a video for all financial books you recommend? By the way, I watch your videos based on a comment you made about the importance of paying a tithe. Congratulations on your success. Thank you.
Dude, Ihad to watch this video 2x in a row. This is a great video.
Very interesting video, i have this book sitting down on my phone for the longest and you just gave me a boost to go read it
Thank you man 🤝🏾🤝🏾🤝🏾
Too late. I already subscribed. In a world where many people don't have enough to eat, most of us in the US have more than enough to eat. I'm working on becoming a minimalist. I'm loving it! Billionaires don't have a billion in cash. My business is growing which means our value is growing.
So motivating!!!!!!! Made my day!! Just started in the stock market and trading while studying. Enjoying the process and the learning untill I live my dream. Thank you very much for the video. Greetings from Germany :)
Concise.
Misquote at 9:32. The joker did not say that. It was Alfred who said that "some people just want to see the world burn."
Gabe I love your videos , I'm learning so much.
I must tell you look like a cross - between Heath Ledger and Matthew McConaughey.
Great Job with the infotainment
I just finished this book you presented it as a stylized spark notes, thank you :)
Everything said fact 💯
Money is important
This was helpful.
👍🔥
Great review! I recently read the book myself. Also, to be *that* person - it was Alfred, not the Joker, who said "some men just want to watch the world burn." 😅
I read this book,it's really good :)
I just recently finished reading this book and I could not agree more that it definitely elevates your (financial) thinking and gives you a better insight into better manage decisions. Will definitely be on list of books to read (or re-read in my case) for 2023
Checkout millionaire next door
Subscribed 🎉
Gabe I finnally have 700$ for investing in stocks, where can I put it to get the most I’m trying to get rich “ Like fast”
You have the best cups!
I couldn't agree more with your review. This book is an absolute gem and should be required reading for everyone.
Thanks Gabe, as a Christian I'd love to hear your thoughts on Money Possessions and Eternity by Randy Alcorn, the Bible has a lot to say on this topic :)
That’s actually a great book I might be doing one on that in the future I’ve read it and made a video on a few of the topics but I can do the whole book
Freedom is most important!
I would be interested in this as well
Simply,
Don't love money.
Remember money is a resource used for purpose.
If you have extra, don't feel religious and try to give it out in haste. Be responsible with it.
Extra money could be provision God has given for a future use.
Love God, Do not love his gift.
I’ve been sleeping on the floor until recently, does it get any more minimalist?
Buy Singapore Tamasek shares. They have been maintaining their annual returns 20 years steadily 6.8%.
I hope so
My favorite chapter of the book was "reasonable > rational" that drives my investment strategy, I'm doing what I'm comfortable with because I understand that I will stick with the strategy in a long term so there's times when I miss a 1 or 2% annual interest rate just because I'm not comfortable with the way of the investment work or the platform or any detail that in some moment of weakness I would sell or cash out and maybe lose money, also "wealth is what you don't see" is a huge take away to release social pressure.
this is a great insight about investing in your comfortable way! I was thinking about putting a bit of savings like 10% into cryptos n nfts stuff but realized my current financial situation wouldn't allow that.
Awesome
I believe it was Alfred who said that to Bruce.
The Joker was trying to prove nihilism was the basis of humanity. Which is just plain wrong.
Hey I wanted to say I finished your coarse this morning and it was well worth the money.
The math breakdowns as well as mindset was excellent. My favorite was the end with seeing how assets make you money.
I hope to get into House Hacking and would appreciate the setting that up you mentioned.
A new loan is being offered through Bank of America but only in specific places, so more information and resources with that would be great. Thank you.
Glad to hear you enjoyed it! I’ll see if I can get more info on that
House hacking or having somebody live in your house with you is really scary because if there is an eviction moratorium or even if you want to evict somebody trying to get on the court calendar can take months and that could have you in a negative cash flow
@@KC-dr3cg That’s why I’d have to have a lot of cash flow first or multiple house hacks.
5:35 dude I recognize those books the Hardy boys, the yellow ones are back to backs in I'm not mistaken
This is interesting thanks for sharing awesome tips Gabe ! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits ms Important to get a mentor/coach to lead you all the way. It's great to start young too!
Hi, I'm 45 working on my retirement fund too. What do you think is the best target for retirement?
a lot of people find having a couch /financial advisor a luxury
@@eiraantoinette6793 personally I think 1m is the goal to overcome inflation and having them in an investment portfolio is a perfect plan. I'm half way to my goal 😊
@@williamsebastian5574 yeah. Fees and commissions are factors to look at in search for financial advisers. There’s financial experts out there who do not look at their fees but the impact and intrinsic value they bring along to you no matter how little you want to start. I’m glad I had one guide me start my financial journey
@@kimayaknight7180 I'm trying to read books about finance, budgeting and saving. Looking at having a good financial advisor. Can you recommend