Page 101 - Morgan Housel - The Psychology of Money_ Timeless Lessons on Wealth, Greed, and Happiness-Harriman House Limited (2020)

spent can give you. But it is so ingrained in us that to have money is to
spend money that we don’t get to see the restraint it takes to actually be
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wealthy. And since we can’t see it, it’s hard to learn about it.

People are good at learning by imitation. But the hidden nature of wealth

makes it hard to imitate others and learn from their ways. After he died,
Ronald Read became many people’s financial role model. He was lionized
in the media and cherished on social media. But he was nobody’s financial
role model while he was living because every penny of his wealth was
hidden, even to those who knew him.

Imagine how hard it would be to learn how to write if you couldn’t read the
works of great authors. Who would be your inspiration? Who would you
admire? Whose nuanced tricks and tips would you follow? It would make

something that is already hard even harder. It’s difficult to learn from what
you can’t see. Which helps explain why it’s so hard for many to build
wealth.

The world is filled with people who look modest but are actually wealthy
and people who look rich who live at the razor’s edge of insolvency. Keep
this in mind when quickly judging others’ success and setting your own

goals.

If wealth is what you don’t spend, what good is it? Well, let me convince
you to save money.