12. Freedom is the ultimate wealth. The ultimate leverage is having control over your time. If your money doesn’t give you more choice and time, you’re doing it wrong.

3. The biggest financial risk is needing money (fast). Market crashes don’t hurt investors. Needing cash during a crash does. Never put yourself in a position where you’re forced to sell assets at the worst time. Liquidity = Survival.

4. If you don’t define "enough", you’ll end up chasing infinity. No number will ever feel like “enough.”: • You make $100K, you want $200K. • You make $1M, you want $10M. • You make $10M, you want $100M. You will never feel wealthy if you don’t define finite goals.

P.S. - If you enjoyed the content, please repost the thread to inspire others. I break down insights on legendary leaders, business and ideas, to help you build wealth and win the game of life. ↑ Just go to the first tweet + tap "repost."

5. Understand luck does play a part. In 1968, Bill Gates went to one of the only high schools in the world with a computer. Jeff Bezos almost died in a helicopter crash in 2003. Never assume success is only hard work. Never assume failure is only bad decisions.

6. Getting wealthy is different from staying wealthy. Becoming rich takes risk, optimism, and big bets. Staying rich takes humility, paranoia, and defense. If you get rich and keep taking big risks, I guarantee you will lose it all.

7. Don’t copy blindly. People play different financial games: A man trading options aggressively is most likely playing a short-term game. It would be unwise to copy the strategy if you want long-term wealth. Never take advice from someone playing a different game than you.

8. Wealth is quiet. Rich is loud. The wealthiest people don’t flex. They don’t need to. • The guy with a Lamborghini might be broke. • The guy in a Toyota might be worth $10M. They’re busy dodging relatives that want to borrow money. Wealth is hidden in where you don’t see.

9. Time beats timing. • Holding stocks for 1 year is gambling. • Holding for 10 years is wealth-building. The longer you stay invested, the higher your chances of success. Most people fail because they quit too soon.

10. Control your emotions. More people lose money because of panic than bad investments. • Market crashes feel terrifying but are normal. • Every drop in history has recovered. The patient investor always wins.

11. Your financial goals should match your life & purpose, not society status. Some people want a mansion. Others want freedom to work 4 hours a day. Some people want to retire early. Others want to change the world. There’s no universal definition of success. Define yours.

13. Pessimism sounds smart but does nothing. 14. • The world is always ending. • The economy is always collapsing. • A crash is always coming. But look at history: Optimists build wealth. Pessimists miss out.

14. The best financial decision is often the most boring one. • Buy index funds. • Live below your means. • Automate savings. • Avoid debt. • Let compounding work. Most people fail because boring sounds too easy.

I learned that: The goal isn’t to be rich. The goal is to stop worrying about money. Money is a tool. Money should make your life easier, not more stressful. If you master your mindsets, habits, emotions, and have patience… Wealth will take care of itself.

The insights of this thread are from the book, “The Psychology of Money,” by Morgan Housel. I believe he’s one of the most influential finance thinkers, and strongly recommend anyone that liked this thread to read his book. It changed my life.

Follow my journey. Go to my profile @WillieChou + press follow. I share insights on legendary leaders, business and ideas, to help you improve every aspect of your life. Hope to connect. Remember to share the post if you enjoyed it by reposting the first tweet👇

Longevity isn’t just for billionaires. Julie Gibson Clark spends less than $100 monthly and outranked the wealthiest on the longevity leaderboard. Her secret? NOVOS Core. Affordable choices, big impact. Read her story here:

homeless