Audiobook I am hearing: The Psychology of Money by Morgan Housel
One of my goals this year is to further develop my understanding of the concept of money and to create some foundational principles for its use in my life. This book was a good foundation for this pursuit. Concepts such as how to utilize the concept of compounding interest, how to prepare for the unknown and how to prioritize where you place your hard earned dollars are all topics covered. That being said, the majority of the wisdom from this text can be gleaned by listening purely to the last two chapters. However, the advice given during the last 30 minutes of this audiobook is profound. If you are looking to improve your financial life this year, give this a listen!
Method of transportation I am utilizing: Amtrak Train
This past weekend I took the train from Solana Beach up to meet with my master mind group in Santa Barbara. This choice to use the train rather than drive turned out to be a massive advantage. To start, the round trip ticket was about $80 versus driving my truck would have cost about $250 for gas. I was also able to get about six extra hours of work done, I was relaxed upon arrival and enjoyed listening to music while watching the ocean most of the way up the coast. If you have ever considered traveling up the coast of California you might think about using the train to help you get there in a very comfortable and cost effective way.
Quote I am loving: “Nothing is as good or as bad as it seems.”~ Scott Galloway
This is one of the concepts put forward by Housel in his book The Psychology of Money. This idea can be applied to both stressful and seemingly beneficial situations to help avoid feeling too low or too high about your financial life. The greater your ability to keep calm in either instance, the better your ability to make calm, rational decisions that will work in your favor in the long run. This week try to apply this philosophy by running things through this filter!
Have a kick ass week everyone!
Dr. Devin Shea, DC