Takeaways
We often think we have complete control over our lives when in fact there are so many factors and powers in play we have very little. Think about how fast your life could be completely taken away
Once in a lifetime events happen often when the sample size is massive (7billion).
There are some things that are always changing but a good question is what stays the same?
- Humans often act out of envy (more I think than greed)
- Wealth is what you have – what you want
- Keep expectations low and you will be happy
- Money and savings buy you higher and higher levels of freedom – remember to think about money in this way (a hammer that builds you freedom)
- Some of the “richest” people can be some of the least wealthy people and the least free people
- Envy is powerful and probably the biggest thief of wealth
- Who can tell the best story wins, not who is right.
Investing
- Wealth can be built by anyone
- Power of time and compounding
- The biggest risk in investing in stocks is selling when they are low
- Investing throughout ups and downs is brilliant
- Save in stocks when you have a bigger time frame for your money (more than 5/10years)
- Human behaviour is a massive factor