We at Marcellus are in the business of wealth creation. But what underlying purpose does wealth creation serve often gets confusing in the minds of people even those who have plenty as Morgan Housel shows in this short read. Housel has been writing about this aspect of financial independence – what does it mean, how to achieve it and most importantly how to maintain it. It has more to do with behaviour than any sophisticated financial planning skills as in the title of his book ‘The Psychology of Money’. In this article, he talks about three ways of measuring the highest forms of wealth:
1. Controlling your time and the ability to wake up and say, “I can do whatever I want today.”
2. When money becomes like oxygen: so abundant relative to your needs that you don’t have to think about it despite it being a critical part of your life.
3. A career that allows for intellectual honesty.
An enjoyable quick read as usual.
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Note: the above material is neither investment research, nor financial advice. Marcellus does not seek payment for or business from this publication in any shape or form. Marcellus Investment Managers is regulated by the Securities and Exchange Board of India as a provider of Portfolio Management Services. Marcellus Investment Managers is also regulated in the United States as an Investment Advisor.
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