3 Things You’ve Got Wrong About Money

It’s like a mirage in a desert. You’re thirsty. You crave a drink of water. You see something in the distance. Sweat pouring down your face, you lift your feet like brick through the sand. But when you get there, it’s only a mirage. That’s the way many feel with money and investing it. But here are three paradigm shifts that may help you see more clearly and make investing a lot less scary. They’re quotes from this week’s book of the week Amanda Steingberg’s book Worth It.

#1 Risk is Not a Bad Thing

“It’s worth it to weather the uncertainty. And in case you think uncertainty – otherwise known as risk – is always a negative thing, please allow me to reframe. Risk only means uncertainty. It isn’t positive or negative. Risk just means that you cannot see the future, down or up.”¹

#2 Knowledge isn’t Power, Curiosity is

“‘It’s not that that the managers didn’t care or were incompetent; it’s that they were overconfident. When you think you know the answer, you sincerely believe it’s a waste of time to keep looking for it.’ the report’s author observed in the Harvard Business Review.”²

# 3 Women are Really Good at Investing

“The data is promising. As we’ve seen in studies, once women get over their crisis of confidence, they’re really good at financial management because they are not resolute of their abilities to make good investment choices. Women’s tendency to be more conservative, to think more collaboratively, and to seek expert advice really works well in navigating the market.”³

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Sarah Jackson

Vigilant Poster Girl

References

  1. Worth It by Amanda Steinberg pg 108
  2. Worth It by Amanda Steinberg pg 118
  3. Worth It by Amanda Steinberg pg 129

 

 


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