Morgan Housel says surviving with what you have made is more important than how you actually made it.
Getting money is one thing. Keeping it is another.
Staying wealthy is harder than getting wealthy.
Imagine two people who won a lottery of 1 crore. Person A has a short-term vision. Person B has a long-term vision.
Person A spends relentlessly on things and vacations, never thinking about saving or investing. Person B also spends on things and vacations, but saves and invests a large portion.
After a few years, Person A runs out of money. Their financial status becomes worse than before the lottery. Person B continues to stay wealthy by being thoughtful about expenses.
Making money requires taking risks. But keeping money requires the opposite — avoiding unnecessary risk.
That is why a survival mentality is so important when it comes to money.