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A thread of my top 10 quotes from Atomic Habits by @JamesClear and their parallel lessons for investing.
1) "Habits are the compound interest of self improvement."
- You can’t have bad habits in other areas of life and expect the effects not to permeate into your investing
1) "Habits are the compound interest of self improvement."
- You can’t have bad habits in other areas of life and expect the effects not to permeate into your investing
2) "Progress requires unlearning. Becoming the best version of yourself requires you to continuously edit your beliefs, and upgrade + expand your identity."
- It's ok to be wrong, but it's not ok to stay wrong. Strong opinions, loosely held. Embrace ideas that challenge your own
- It's ok to be wrong, but it's not ok to stay wrong. Strong opinions, loosely held. Embrace ideas that challenge your own
3) "Everyone faces the same challenge on the journey of self-improvement: you have to fall in love with boredom."
- The first rule of compounding: Never interrupt it unnecessarily. Money is made in the sitting. Men who can be both right and sit tight are uncommon.
@BrianFeroldi
- The first rule of compounding: Never interrupt it unnecessarily. Money is made in the sitting. Men who can be both right and sit tight are uncommon.
@BrianFeroldi
4) "Missing once is an accident. Missing twice is the start of a new habit."
- When you know what not to do in order not to lose money, you begin to learn what to do in order to win. The finest art is not to lose money. Making money in the stock market can be done by anybody
- When you know what not to do in order not to lose money, you begin to learn what to do in order to win. The finest art is not to lose money. Making money in the stock market can be done by anybody
5) "When you can't win by being better, you can win by being different."
- Wall St has to deliver annual performance statements. They have to think about today as much as tomorrow. WE have the luxury of playing a different game. The long game. Let compounding work for you
- Wall St has to deliver annual performance statements. They have to think about today as much as tomorrow. WE have the luxury of playing a different game. The long game. Let compounding work for you
6) "Your net worth is a lagging indicator of your financial habits"
- Where you are at financially today is the result of all actions, habits, discipline, and work you did before it. The wealth you will create tomorrow will be the product of what you do today.
@CJ_Johnson17th
- Where you are at financially today is the result of all actions, habits, discipline, and work you did before it. The wealth you will create tomorrow will be the product of what you do today.
@CJ_Johnson17th
7) "It's one thing to say I'm the type of person who wants this. It's something very different to say I'm the type of person who is this"
- The feeling of wealth produces wealth. Your subconscious mind is like a bank. It magnifies whatever you deposit into it.
@CJ_Johnson17th
- The feeling of wealth produces wealth. Your subconscious mind is like a bank. It magnifies whatever you deposit into it.
@CJ_Johnson17th
8) "You do not rise to the level of your goals, you fall to the level of your systems"
- If goals are the macro, systems are the micro. Spend less time focusing on investing outcomes and more time focusing on the habits & systems that precede your results. The money will come.
- If goals are the macro, systems are the micro. Spend less time focusing on investing outcomes and more time focusing on the habits & systems that precede your results. The money will come.
9) "A lack of self-awareness is poison. Reflection and review is the antidote. The upside of habits is that we can do things without thinking. The downside is that we stop paying attention to little errors."
- Time in the market > timing the market
@RyanDetrick
- Time in the market > timing the market
@RyanDetrick
10) "One of the most effective things you can do to build better habits is to join a culture where your desired behavior is the normal behavior"
- Welcome to FinTwit! An environment where we can surround ourselves with ideas & expertise that can help you become financially free
- Welcome to FinTwit! An environment where we can surround ourselves with ideas & expertise that can help you become financially free
Thanks for reading! Any other good book recommendations on habits, wealth creation, and self development, FinTwit?
@cperruna @creation247 @FitFounder @CJ_Johnson17th @adventuresinfi @BahamaBen9 @BusinessFamous @JonahLupton @Psypreneur @paulhbast @SteveOnSpeed @waronweakness
@cperruna @creation247 @FitFounder @CJ_Johnson17th @adventuresinfi @BahamaBen9 @BusinessFamous @JonahLupton @Psypreneur @paulhbast @SteveOnSpeed @waronweakness
