- Insight: We tend to make better financial decisions when we're calm and take a long term approach, rather than lots of activity.
- Insight: Investors that have an action bias tend to perform worse over the long term.
The Next Millionaire Next Door
by Sarah Stanley Fallaw, Thomas J. Stanley
Published date: 2018
Category: Self-help
Index Topics & Notes
- Insight: Those with external locus of control often assume that they cannot control outcomes in their lives, those with internal locus of control view themselves as the source of their success or failure.
- Insight: Taking responsibility for financial outcomes and acting accordingly can positively influence wealth and our lives.
- Definition: When we look only at the data of those that succeed or survive and ignore the data that related to those that failed.