The Psychology of Wealth: Lessons on Money and Life (Part 1)

My introduction to finance will be fearly simple, some take aways that I’ve learned from some books and observation.

Have you ever heard of a book called “Rich dad, Poor dad”, it’s quite a popular book written by Robert T. Kiyosaki. So there will be some key take aways that I took from this book altought it mostly just spills water.

To dive into into being rich and personal finance, It’s important to understand that everything depends on you, and from you. Not taking into consideration the roulete of where you were spawned in the world.

Altought I do believe that materialistic things in the physical world don’t have much meaning, the system is built so that with resources you can achieve and dedicate yourself to meaningful endevours. It’s more like a tool, not a possession.

Change what you can

The world is quite chaotic, and it won’t stop, there are many things you’re not able to influence and/or control so there isn’t a meaning to worry about it, think about it, and overall waste your energy on such things.

What you should be focusing on is you, your thoughts and actions. “And if things must change, first I must change”

Life is a teacher

Today people are learning the hard facts about life. It’s hard to find a job, they bearly pay, It’s basically modern day slavery, live with scraps and eat ramen noodles. No longer does a collegue education guarantee a job, and AI is taking a lot of the jobs.

Survival requires adoptation. My life mistakes? I’ve done many, one of which, I think I should’ve started working at 18, but I went to university and didn’t work as per my parents wishes and how I’ve been raised. I also indulged in partying, drugs, and casino, and all of that was introduced to me by people I know. Gambling took many years of my life and finance, so did drugs, and fake people.

Most of these previously mentioned things are quite frustrating, but here is the main thought, I learned from my mistakes and I’m not wasting energy on these things cause I can’t rewind time or affect them in any way. The bare conecpt of time is in our heads. There isn’t future or past, there is only here and now.

The rich don’t work for money

The poor and the middle class work for money. The rich have money work for them.

I think there is nothing to explain about this section of the post. The simplest example, is acquiring a dividend stock, or investing capital in a business. Money multiples money.

Decisivness

World is indeed moving faster in every sense of the phrase. Internet communication, insfrastructure, trading, everything is moving faster, decisions have to be made quick to seize oppurtunity. Either It’s a client, a job, education, trading. Decisions have to be made all the time.

Cone of learning

Edgar Dale gets credit fore helping us to understand that we learn best through action – doing the real thing or a simulation . Sometimes it’s called experiential learning. Dale and his Cone of Learning tell us that reading and lecture are the least effective ways to learn. And yet we all know how most schoold teach: reading and lecture.

That will be it for this post, thank you for reading. This would be just the beginning.