Another brilliant article by Morgan Housel
Measuring some of the downsides of wealth is so much harder and more nuanced. They can be so nuanced and hard to measure that many people won’t even believe they exist.
When the benefits of money are so obvious but the downsides are so subtle, the downsides you didn’t anticipate can be more jarring than the benefits you expected.
Losing money, or losing happiness when you have money – those stories tend to have common denominators. They are so common you can call them laws.
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Most of what makes you happy in life has nothing to do with money, and realizing that once you have money can be a painful admission.
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What you think is admiration of your success may actually be envy.
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The richer you become, the less likely people around you are to tell you when you’re wrong, crazy, mean, or oblivious.
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Sometimes what made you successful was worry and anxiety, and you can’t let go of that when you’re rich.
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There is no easy way to manage wealth and kids.
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Quick wealth is fragile wealth.
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Reputations have momentum in both directions because people want to associate with winners and avoid losers.
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Expectations can rise faster than income, so a higher income sends expectations spiraling out of control.
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No one is going to remember you in 100 years.
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