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2/28/2025, 1:25:19 PM

Hear This! Money is a deception and a distraction in the world. Not many realise this, but it’s the truth. When God made this world, there was no such thing as money. Money was an evolution; the world didn’t start out with money. But today, we act like money “fell” from heaven and God said, “Thou must use money.” But it’s not so. Here’s how you can easily understand this deception: when you deposit money in the bank, you’re aware that there’s no special store created to store the money with your name on every bill. Where then is all the money that the bank is keeping for you? They only have a record against your name in figures as proof that you have money there. That should tell you something: money is an illusion; it exists only in the mind of the poor. Your real quality and value have nothing to do with the bills in your pocket or safe-deposit box. If you can build, not your bank accounts, but your mind and your heart—the quality of your personality—it’ll control how much money responds to you. Take your mind beyond money and focus on God’s purpose. His purpose for your life is that no matter what happens to the financial systems and operations of the world, you’ll always win. You’re bigger than inflation and the economy of the nation where you live. You’re bigger than this world! You’re the seed of Abraham, meaning you own the world. Believe this and you’d be free from the power and intimidation of money. Your dream in life shouldn’t be where to get money or how to get money. The first and most vital element is your mind. Put it to work, and money will respond to you always.

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3/1/2025, 8:21:28 AM

95% of our success or failure in life is based on who we spend the most time with. So get friends like these in your personal and professional life and watch how your life will transform.

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2/28/2025, 4:14:22 AM

📝📝📝📝📝📝❤️ *Chapter 7: Freedom* The seventh chapter of The Psychology of Money by Morgan Housel focuses on freedom as the ultimate form of wealth. Housel argues that beyond financial success, the ability to control one’s time is the most valuable asset money can buy. *1. The Definition of Wealth: Control Over Time* Housel defines true wealth not as luxury or excess but as the ability to wake up and do what you want, when you want, with whom you want, for as long as you want. He believes that this autonomy is the single greatest determinant of happiness. Studies show that job satisfaction is less about money and more about having control over one’s schedule. The richest people in the world often prioritize control over their time rather than just accumulating wealth. Example: The Power of Time Autonomy Housel shares a story of a person who had a prestigious, high-paying job but felt trapped because their schedule was dictated by others. Meanwhile, someone earning much less but with complete freedom over their time felt wealthier. 2. *The Role of Money in Gaining Freedom* While money alone doesn’t bring happiness, it buys options. Having savings or financial independence allows you to: Choose how you spend your day Say no to work you don’t enjoy Avoid stress from unexpected expenses Pursue passions without worrying about financial survival “The highest dividend money pays is the ability to control your time.” — Morgan Housel *3. The Trade-Off Between Money and Freedom* Many people chase more money, assuming it will bring happiness, but they often trade their freedom in the process. High salaries often come with more responsibilities, longer hours, and less personal time. Many professionals feel trapped in “golden handcuffs”—they make too much to quit but are miserable in their jobs. Instead of maximizing income, Housel suggests optimizing for freedom and flexibility. Example: The Illusion of Success A lawyer making $500K per year but working 80-hour weeks might feel less “rich” than a freelancer making $80K with full control over their schedule. True financial success means structuring life in a way that maximizes control over time, not just income. *4. Financial Independence vs. Extravagance* Housel highlights that financial independence isn’t about being ultra-rich or living lavishly. It’s about having enough savings and investments to give you flexibility. A modest lifestyle with financial security is often better than a high-income lifestyle with debt and stress. Many wealthy people continue working because they lack the freedom to stop. *5. Implications for Investing and Money Management* Savings = Freedom: The more you save, the more control you have over your time. Don’t Chase Status Symbols: If financial freedom is the goal, spending on things that trap you in a cycle of debt and work is counterproductive. Invest for Long-Term Independence: Instead of just accumulating wealth, structure finances to create lasting flexibility. *Conclusion* Housel’s key lesson in this chapter is that money’s greatest benefit is the ability to control your time. Instead of chasing wealth for the sake of luxury, focus on using money to buy freedom and flexibility. True financial success isn’t about a high income but about having control over how you live your life. 📝📝📝❤️

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2/27/2025, 3:05:54 AM

📚📚📚📚📝 *Chapter 6 of The Psychology of Money by Morgan Housel* *Titled "Tails, You Win"* Focuses on the role of tail events in financial success. Here’s a detailed discussion of the chapter’s key themes and insights: *1. The Power of Tail Events* Housel explains that in many areas of life—including finance, business, and investing—a small number of extreme events, known as tail events, drive the majority of outcomes. In investing, tail events refer to rare but highly impactful occurrences, like market crashes, technological breakthroughs, or economic booms, that disproportionately influence long-term results. *Examples from Different Fields* Stock Market: A few stocks generate the majority of market gains. For instance, a small percentage of companies (like Apple, Amazon, and Microsoft) drive most of the S&P 500’s growth. Venture Capital: Most startup investments fail, but a few (like Facebook or Google) make up for all the losses and generate massive returns. History and Innovation: The world is shaped by a handful of major events—wars, technological innovations, and economic revolutions. *2. Warren Buffett and the Role of Tail Events* Housel highlights Warren Buffett as an example of how tail events shape success. Buffett’s wealth isn't just due to his investing skill but also his longevity in the market. His wealth is a result of compounding over decades, meaning that just a few exceptional years contributed massively to his fortune. 3. *Learning to Accept Losses* Since tail events determine most outcomes, Housel argues that losses are inevitable. Investors and businesses must be prepared for failure, as most attempts will not yield extraordinary results. The key is to stay in the game long enough to benefit from the rare but powerful successes. Amazon’s Failures: Jeff Bezos has repeatedly said that Amazon’s success is built on embracing risk and failure. Many of Amazon’s ventures failed (Fire Phone, for example), but the successes (AWS, Prime, etc.) outweighed the losses. Stock Investing: Most stocks underperform, but a few deliver exponential returns. The trick is to hold onto those few winners instead of trying to avoid all losses. *4. Implications for Investors* Long-Term Thinking: Instead of obsessing over daily fluctuations, focus on long-term investments where tail events can work in your favor. Diversification: Since predicting which stock or investment will be the big winner is difficult, spreading investments across multiple assets increases the chances of capturing a tail event. Patience and Resilience: Accepting that some investments or business moves will fail makes it easier to stay invested for the long run. Conclusion Housel’s core message in Chapter 6 is that success in investing—and in life—is shaped by a small number of powerful events. Rather than avoiding losses altogether, the key is to position yourself to benefit from the rare but transformative wins. By understanding and embracing the role of tail events, investors can make better decisions, remain patient, and ultimately build wealth over . 📚📚📚📚📚📚📚📝❤️

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2/18/2025, 7:44:07 AM

*Dear son,* You have wifi. You have a laptop. You have a phone. You have no excuse. Disappear 4 hours a day. Cut off distractions. Learn a high paying digital skill. It will change your life. I promise you won't regret it.

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2/18/2025, 3:02:50 AM

🙏 *When you arise in the morning, think of what a precious privilege it is to be alive—to breathe, to think, to enjoy, to love."🙏 — Marcus Aurelius*

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2/18/2025, 2:37:51 AM

*📚📚Chapter 2: Luck & Risk – The Psychology of Money by Morgan Housel*🔥 In the second chapter, Morgan Housel explores the concepts of luck and risk, emphasizing that financial success (or failure) often depends on factors beyond individual control. He argues that while we tend to credit success to skill and blame failure on mistakes, luck and risk play a much bigger role in shaping outcomes than we like to admit. **Key Themes in Chapter 2* *1. The Role of Luck in Success** Housel begins by highlighting how luck is an invisible force that influences success. He uses the example of Bill Gates, who attended one of the very few high schools in the world that had a computer in 1968. Without that rare opportunity, Gates might not have become the billionaire we know today. Lesson: Many successful people had uncontrollable lucky breaks, such as being born in the right place at the right time or having access to rare resources. Implication: Success stories shouldn’t always be seen as purely merit-based—luck plays a crucial role. *2. The Role of Risk in Failure* While luck can create success, risk works in the opposite way—it can destroy success, even for intelligent and hardworking people. Housel contrasts Gates' luck with his friend Kent Evans, who had the same skills but died in a tragic accident before he could achieve success. Lesson: Failure doesn’t always mean poor choices—it can be the result of random misfortune. Implication: We should avoid judging people too harshly for failure and recognize the role of external factors. *3. The Mistake of Overgeneralizing Success and Failure* People tend to look at successful individuals and assume that copying their habits will lead to the same results. However, Housel warns against "survivorship bias"—the idea that we only study those who succeeded, ignoring those who tried similar strategies and failed. For example: If 100 people start businesses and only 5 succeed, we study those 5 and assume their habits are the secret to success, ignoring the 95 who failed despite doing the same things. Lesson: There is no one-size-fits-all formula for success. The same strategy that worked for one person may not work for another because luck and risk affect everyone differently. *4. Respecting the Power of Luck and Risk* Housel suggests that we should adopt a mindset of humility and gratitude when it comes to success and empathy and understanding when it comes to failure. Instead of assuming that wealth and success are purely the result of intelligence and hard work, we should recognize the hidden role of external forces. Lesson: Stay humble when you succeed (because luck may have helped you), and be kind to those who fail (because risk may have worked against them). Implication: A better approach to personal finance and investing is to control what you can (your behavior, savings, and risk management) and accept that some factors are beyond control. *Key Takeaways from Chapter 2* Luck and risk shape financial outcomes more than we realize. Success does not always mean smart decisions; failure does not always mean bad decisions. We should avoid blindly copying successful people because their success may involve factors that can’t be replicated. Humility is crucial in financial decision-making—never assume you are invincible. The best way to navigate luck and risk is to focus on behavior, risk management, and long-term thinking. Final Thought This chapter challenges the traditional idea that success is purely earned and failure is purely deserved. By understanding the role of luck and risk, we can make more rational, humble, and resilient financial choices. 📚📚🔥

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2/18/2025, 8:08:37 PM

*Best career advice ever given to me:* *Don't ever attach yourself to a person, place, company,* *organization, or project. Attach yourself to a mission, calling, or purpose ONLY. That's how you keep your power and your peace.*

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2/17/2025, 5:46:19 AM

May you attract honest, sincere, and caring people without hidden agendas. You deserve healthy relationships based on loyalty, transparency, respect, open communication, clear agreements, and strong boundaries. *Never settle for less than you deserve.*

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2/15/2025, 2:53:56 AM

🔥🔥🔥 The first chapter of The Psychology of Money by Morgan Housel i *📚Titled "No One’s Crazy"* and serves as an introduction to one of the book’s central themes: people make financial decisions based on their own unique experiences, not necessarily based on logic or objective facts. Key Themes in Chapter 1: "No One’s Crazy" *1. Money Decisions Are Deeply Personal* Housel argues that people’s financial decisions often appear irrational to outsiders but make perfect sense to the individual making them. Everyone has a different background, upbringing, and exposure to money, which shapes how they view financial risks, rewards, and opportunities. Unlike disciplines like physics or engineering, finance is more about behavior than formulas. *2. Personal Experiences Shape Money Beliefs* People make financial choices based on their own life experiences, not on historical data or expert advice. Example: Someone who grew up during a financial crisis (like the Great Depression or 2008) might be more risk-averse than someone who grew up in a booming economy. The same financial advice may work for one person but seem foolish to another because their lived experiences are different. *3. The Role of Luck vs. Risk* Housel introduces the idea that luck and risk are two sides of the same coin. Just because someone is successful (or unsuccessful) does not mean their financial decisions were entirely rational or irrational. People overestimate their control over outcomes, often ignoring the role of external factors in financial success. *4. Financial History Is Not Personal History* The economic events a person experiences firsthand shape their views on money more than historical facts. Example: If someone lived through the dot-com bubble crash, they may forever distrust tech stocks, even if the market later recovers. Housel explains that our view of financial risks is limited to what we’ve personally seen, making financial behavior highly subjective. *5. The Importance of Understanding Different* Perspectives Instead of judging other people’s financial choices, Housel encourages readers to understand that everyone’s financial behavior makes sense to them based on their life experience. What may seem crazy or irrational to one person may be entirely logical to another, based on where they were born, their career experiences, or even their parents’ financial habits. Key Lessons and Takeaways People's financial behavior is shaped by their personal experiences, not objective analysis. → Two people with the same income can have completely different approaches to saving, investing, and spending. Understanding that financial decisions are deeply personal can help avoid judgment and improve financial advice. → Instead of dismissing others as “crazy” for their money choices, try to understand their background. Luck and risk play a bigger role in financial success than most people realize. → Someone getting rich does not necessarily mean they were a genius; likewise, someone struggling financially isn’t necessarily irresponsible. Personal experiences with money carry more weight than economic theories or financial news. → We tend to base our financial habits on what we’ve seen in our own lives, not on broad historical trends. 📝Final Thoughts The first chapter of The Psychology of Money challenges the idea that financial success is purely about intelligence or strategy. Instead, it highlights that our experiences, emotions, and psychology play a much bigger role in how we handle money. Understanding this helps people make better financial decisions and also encourages empathy toward others’ financial choices. 🔥🔥🔥🔥