Work and live smarter, not harder
Recommended Books
Quote from Robert Kiyosaki’s book: Rich Dad, Poor Dad
“Assets put money in your pocket, whether you work or not. Liabilities take money out of your pocket.”
“Rich Dad Poor Dad” has truly been a game changer for me. While I have immense love and respect for my own father, this book introduced me to the wisdom of a "Rich Dad" who taught me critical lessons about money that my father, despite his best intentions, never could. One of the most eye-opening concepts in the book is the distinction between Assets and Liabilities, which is often misunderstood by many. This misconception can hold people back from building true wealth and achieving financial independence.
Kiyosaki's teachings have reshaped how I view money. He explains how many people, despite working hard, struggle to build lasting wealth simply because they misunderstand the role of assets and liabilities in their financial lives. This understanding has been foundational in helping me shift my mindset from just earning to investing and growing my wealth.
Quote from John C. Bogle’s book: The Little Book of Common Sense Investing
“Don't look for the needle in the haystack. Just buy the haystack!”
After reading "Rich Dad Poor Dad," I sought assets offering a reasonable return with limited capital. My research led me to index funds, which provide a straightforward, low-cost approach to building wealth. Both Warren Buffett and John C. Bogle endorse index funds for their simplicity and minimal fees. They allow you to benefit from broad market growth over time, making them a great choice for everyday investors looking for a simple way to start investing without the complexity of individual stocks.
Quote from Morgan Housel’s book: The Psychology of Money
“Spending money to show people how much money you have is the fastest way to have less money”
When it comes to money, intelligence alone isn’t enough. Take the infamous story of Isaac Newton, one of history’s greatest minds, who allegedly lost £20,000 during the South Sea Bubble—a sum equivalent to around $3 million in today’s terms. This tale has become one of the most iconic investment anecdotes, proving that even geniuses can make costly mistakes when emotions and herd mentality take over.
The truth is, financial success often hinges more on psychology than raw intellect. So how do you avoid the common traps that derail even the smartest investors?