Navigating Wealth, Social Media, and Financial Decisions

This chapter explores the distinctions between being rich and being wealthy, emphasizing the importance of financial independence and autonomy in achieving long-term wealth. It discusses the impact of social media on perceptions of money and success, highlighting the concept of doom spending and the need for a well-calibrated sense of future regret in financial decision-making. The discussion also delves into psychological safeguards against overspending, the dangers of FOMO and ego in financial decisions, and the traits of bad investors.