Sharing herewith few interesting points worth visiting from the book “The Psychology of Money — Chapter Never Enough - When Rich People Do Crazy Things.”
In particular, I’m in awe of the inspiring story of Rajat Gupta. Born in Kolkata and losing his parents at young age to making his mark in the corporate world — becoming CEO of Mckinsey the world’s most prestigious consulting firm to going behind the bars for the insider trading. Eventually he has denied all the allegations of wrong doings in his poignant memoir books “Mind without Fear” which we keep for another day for now.
Money seems lucrative to everyone. Beneath are interesting snippets to eventually worth pondering:
- The hardest financial skill is getting the goalpost to stop moving.
The idea is to know where to stop. The context here is not to be content and laid back but to do the things in control in every aspect to ensure balancing the life. I really liked the idea of writer here, “Happiness, as it’s said, is just results minus expectations.”
2. Social Comparison is the problem here
The point is that the ceiling of social comparison is so high that virtually no one will ever hit it. Which means it’s a battle that can never be won, or that the only way to win is to not fight to begin with — to accept that you might have enough, even if it’s less than those around you. That’s exactly how the game of trying to keep up with other people’s wealth works, too.
3. “Enough” is not too little
Overeating leads to vomiting. And consistently doing so many health issues. And same is with the money. But it can't be translated in plain and simple logical ways. The writer says, “Whatever it is, the inability to deny a potential dollar will eventually catch up to you.”
4. There are many things never worth risking, no matter the potential gain.
Thank You!
