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As financial advisor Carl Richards says, “Risk is what’s left over after you think you’ve thought of everything.”
Two, realize that if you’re only preparing for the risks you can envision, you’ll be unprepared for the risks you can’t see every single time. So, in personal finance, the right amount of savings is when it feels like it’s a little too much. It should feel excessive; it should make you wince a little.
Montesquieu wrote 275 years ago, “If you only wished to be happy, this could be easily accomplished; but we wish to be happier than other people, and this is always difficult, for we believe others to be happier than they are.”
Money buys happiness in the same way drugs bring pleasure: incredible if done right, dangerous if used to mask a weakness, and disastrous when no amount is enough.
People don’t want accuracy. They want certainty.
“Humor is a way to show you’re smart without bragging.”
“The thing I have noticed is when the anecdotes and the data disagree, the anecdotes are usually right. There’s something wrong with the way you are measuring it.”
Because what makes life mean something is purpose. A goal. The battle, the struggle—even if you don’t win it.
The trick in any field—from finance to careers to relationships—is being able to survive the short-run problems so you can stick around long enough to enjoy the long-term growth.
Save like a pessimist and invest like an optimist.
Plan like a pessimist and dream like...
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When you are keenly aware of your own struggles but blind to those of others, it’s easy to assume you’re missing some skill or secret that others have.
Jim Carrey once said, “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.”
Wounds heal, but scars last.
They had learned from bitter experience to crave security.
without realizing that mindsets are harder to repair than buildings and cash flows.
“A mind that is stretched by new experience can never go back to its old dimensions,”
“What have you experienced that I haven’t that makes you believe what you do? And would I think about the world like you do if I experienced what you have?”
