Investing is psychology, not math: The Psychology of Money #8 (finale)

About this episode

Many people think investing is about doing math — calculating returns and asset allocation. But in this episode, I want to tell you something more important: managing money is really psychology.

In the finale of The Psychology of Money series, I share three key ideas:

There's no standard answer in investing: you and I are different The same asset can be worth completely different things to different people What matters isn't "what to buy," but what game you're playing

The author's mortgage choice: why did he choose to buy a home without a mortgage? As his income rose, he didn't raise his spending; he raised his savings rate Real freedom isn't earning more; it's stopping comparing

Investing is a story that never ends Markets keep changing, and no single method lasts a lifetime Rather than predicting the future, build the ability to adjust yourself

If you've ever asked: "What should I buy now?" "Which investment makes the most money?" then what you should really be asking is: does this choice suit me?

This episode isn't just the end of The Psychology of Money series; it's the starting point for building your own long-term money system.

The episode is in Mandarin Chinese. These notes are translated from my original show notes.