This is a super useful and quite short book which details as the name suggests the psychology at work to earn money and generate wealth. Well, that’s correct- Money & Wealth are two interdependent, interconnected but totally different concepts. How and what makes them so is narrated beautifully by the author with help of few relatable short stories.

As the author says that earning money and then investing that money wisely to generate wealth are not necessarily mathematical occurrences. Rather, these investment decisions and then maintaining the wealth generated thereof, are more to do with psychological behaviour of the investor. What are the investors’ upbringings, their background, their families’ attitude towards money, education, career opportunities, life goals and most importantly the temperament of generating wealth are the key forces behind some of the successful investors. Morgan Housel explains this so wisely with example of the world famous Investor, Warren Buffett, how he started early, with a methodical approach and how he managed to reach the level which on he is today.

Like so many other readers who regretted not getting these gems of advices early on their life, I also got a bit disappointed for getting these lessons a bit late in life. But nonetheless, there are some powerful takeaways from this phenomenal book such as ‘Give yourself a chance to win and take advantage of long tails’ and ‘Be reasonable rather than rational. Reasonable is more realistic’. Here I am just quoting some of my personal favourites from the list.

To sum it up, it’s a highly recommended read for people at all stages of life, especially if you are still in the process of making your own financial decisions. Being a praiseworthy best seller makes it all the more important to read at least once and try to follow the words of wisdom.