Morgan Housel Says, Surviving with what you have made is more important than – how you actually made it
Let me explain, How ?
Getting Money is One thing But keeping it is another
Staying wealthy is harder than getting wealthy
For example,
There two persons – who won a lottery ticket of 1 crore
Person A had a short term vision and Person B had a Long term vision
Person A was spending money relentlessly on materials and vaccation and never thought of saving and investing it
Where,
Person B was also spending money on necessary materials and vacations but he also saved and invested a large portion of money
Soon after few years,
Person A ran out of money and his financial status became much worse than that was before winning a lottery
Person B on other hand, continued to stay wealthy for a long period of time by being calculative on his expenses
That’s How it is
Making money requirs taking risks
But keeping money requirs opposite of taking risks
That’s Why
survival mentality is so key with money