Berengaria’s Reviews > The Psychology of Money > Status Update
Berengaria
is on page 103 of 242
"One of the most powerful ways to increase your savings, and thus your wealth, isn’t to raise your income. It’s to raise your humility.
When you define savings as the gap between your ego and your income you realize why many people with decent incomes save so little. It’s a daily struggle against instincts to extend your peacock feathers to their outermost limits and keep up with others doing the same."
— Mar 31, 2024 03:48PM
When you define savings as the gap between your ego and your income you realize why many people with decent incomes save so little. It’s a daily struggle against instincts to extend your peacock feathers to their outermost limits and keep up with others doing the same."
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Berengaria’s Previous Updates
Berengaria
is finished
"Become OK with a lot of things going wrong. You can be wrong half the time and still make a fortune, because a small minority of things account for the majority of outcomes. So you should always measure how you’ve done by looking at your full portfolio, rather than individual investments. It is fine to have a large chunk of poor investments and a few outstanding ones. That’s usually the best-case scenario."
— Apr 02, 2024 11:38AM
Berengaria
is on page 44 of 242
Nothing in life happens 100% due to hard work and prudent decisions. If you fail, it probs wasn't due to your own dumbness. Luck and risk plays a much larger role than any of us like to admit. This is why judging anyone for their successes/failures is silly -- they didn't do it all themselves.
— Mar 30, 2024 09:29PM
