According to Morgan Housel, a financial author, whether an investor is safety-oriented or risk-oriented is mainly shaped by early adult experiences, not by intelligence or education. It depends on where and when a person is born. The region I live in, including my country and the era, greatly influences a person’s economic outlook and ability. If you feel ‘no way,’ you might need to change your location. Even when evaluating others, if you estimate ‘no way,’ you should consider having them leave the place. In the Bible, when someone changes their life, the first thing God does is move them from one place to another. - Joseph’s “just my thoughts”
Money is essentially the same, yet it creates different qualities in how it is used and transacted. In other words, the quality associated with money varies. Not all debts are created equal; there are good debts and bad debts . The quality of these debts can also be classified as good or bad, impacting sales and profits. This is similar to how paying the same amount for fruits can yield different results: one box might contain delicious fruit while another may hold tasteless ones. Thus, even when spending the same amount of money, the pleasure and satisfaction derived from the taste can vary significantly. When these differences accumulate, the utility value of money significantly affects wealth distribution , making the gap between wealth and poverty even more pronounced. Earning well, spending wisely , and borrowing judiciously greatly influence our happiness in life. - Joseph’s “just my thoughts”