Afford Anything cover image

The Psychology of Money, with Morgan Housel

Afford Anything

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The Key Take Away Number Six, Bonds and Cash Reserves

Don't take advice from people who are playing a different game. Bonds and cash have a higher return than you think, meaning tat they have an invisible return or an indirect return. Don't be afraid to hold too much of an asset that doesn't produce good returns. The purpose of having bonds in your portfolio is not to provide us with returns directly.

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