Quote:
“Planning is important, but the most important part of every plan is to plan on the plan not going according to plan”
It’s a concise and practical read with so much wisdom. I’d say it’s not just about money; it’s about life. We thought it is a good one for practical financial knowledge but we were wrong- turns out the author literally says we needs to come up with our own financial decisions because every individual has different goals.
When it talks about risk in investing, I can totally relate to it in my research life (oh poor grad student…) “Luck and risk are siblings.” Higher risk means higher potential reward in academia too – when you take a more challenging project, you can potentially publish a high impact paper but there’s a bigger chance you couldn’t succeed. I love this quote because it convinces me to accept the fact that it’s normal and okay to not succeed- “Success is a lousy teacher. It seduces smart people into thinking they can’t lose. – Bill Gates”
This book brings up too much wisdom, so I just want to dump good quotes here:
“Money’s greatest intrinsic value—and this can’t be overstated—is its ability to give you control over your time.”
“Spending money to show people how much money you have is the fastest way to have less money.”
“Things that have never happened before happen all the time.”
“Progress happens too slowly to notice, but setbacks happen too quickly to ignore.”
Highly recommended!
-- Lisa Liang
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