FOBO is as old as humanity — FOBO or Fear of Better Options is a psychological phenomenon where someone avoids making a decision out of fear that there may be a better option. FOBO is the nagging feeling that there might be a better choice out there, which leads to analysis paralysis. Can you relate to the…

Mindset #3: Think 50% when you spend. And 10% when you don’t — I was talking to a friend recently about strategies that make ordinary people wealthy. Often, people talk about trying to spend less by budgeting, saving more, and investing. Or working harder to earn more. These things definitely help. But we all know that without a good budget, savings, and investing…

Break your personal self-reinforcing loop and start generating wealth — When I was in my teens and twenties, I always thought the world was unfair. How can the world be fair if the rich get richer and the poor get poorer? Enter: The Matthew Effect. The Matthew Effect, also known as the principle of accumulated advantage, is not only a…

When your plans change or you experience setbacks, be happy — My next book, The Stoic Path to Wealth, was supposed to come out in February 2024. But my publisher decided to push it back to July 2024. When I heard about the new publishing date, I already started with the marketing strategy for the new book. So I quickly adjusted…

Improvement begins with a single step — Every time you hit snooze on your alarm, ignore your calendar reminder, skip the gym, don’t go to the supermarket while your fridge is empty, and so forth — you become one of the many procrastinators who can’t get things done. That’s because you’re making a decision to NOT do…

You don’t need to be a genius to succeed in the market — In the world of investing, it’s often tempting to think that there’s some secret formula or insider knowledge that separates successful investors from the rest. This is where looking at legendary investors can help. If you look at the wisdom shared by some of the most successful investors of all…

You really don’t have to be perfect — I used to think that consistency was about perfection. “If I can’t be perfect it’s just a waste of time,” I would say. I didn’t yet know that occasional inconsistency can actually help my progress. This type of thinking originates from two places: A fear of failure: If we talk…

95% of finance professionals don’t beat the market — When I was in college, I worked as a mutual funds advisor. This was in 2007, before the financial crisis that took place the next year. I thought I was an investing genius because almost every client I talked to invested with me. …

Embrace amor fati, and let it guide you toward a richer, more meaningful life — Friedrich Nietzsche was a 19th-century German philosopher whose work had a profound impact on modern philosophy, especially existentialism and postmodernism. Nietzsche is most famous for his criticisms of morality and Christianity. I’ve never been a fan of his work primarily because I find him a bit too pessimistic and nihilistic.