1. “Doing well with money is not about what you know. It’s not about where you went to school or how smart you are. It’s how you behave.”

Your behavior as an investor will be responsible for the majority of your returns.

“How you think about greed and fear and risk is so much more important than anything that you can know or be taught or learn in school in the traditional sense.“ - Housel

2. “Controlling your time is the highest dividend that money pays. The ability to do what you want, when you want, with whom you want, is priceless.”

The greatest gift money can provide:

• Autonomy

• Control over your time

• Sense of independence

3. “The most important part of every plan is planning on your plan not going according to plan.”

The biggest risk is often the one we can't see.

“When you are surprised, the correct takeaway is to learn that the world is surprising." - Housel, paraphrasing Daniel Kahneman

4. “Save like a pessimist and invest like an optimist.”

The pessimistic and optimistic sides of your brain need to work together.

• Pessimists: Save enough to endure bear markets.

• Optimists: Invest in innovation and take risks.

5. “If markets never fell, they wouldn’t be risky, and if they weren’t risky, they’d get really expensive, and when they get really expensive, they fall.”

Volatility is a natural, normal, unavoidable part of how markets work. It's the reason you are able to earn good returns.

Reference: Great Quotes, Vol. 13: Morgan Housel Edition