How to Lower Your Cost When Investing

In 'The Psychology of Money,' Morgan Housel delves into the psychological and emotional aspects of financial decisions. The book consists of 19 short stories that illustrate how personal history, worldview, emotions, and biases influence financial outcomes. Housel emphasizes the importance of behavior over knowledge in managing money, highlighting the power of compounding, the dangers of greed, and the pursuit of happiness beyond mere wealth accumulation. He advocates for a frugal lifestyle, long-term perspective, and a balanced approach to investing, stressing that financial success is more about mindset and discipline than about technical financial knowledge.

In 'Think Again', Adam Grant argues that the ability to rethink at personal, interpersonal, and collective levels is crucial in today's polarized world. He uses scientific research, personal anecdotes, and engaging stories to illustrate how people can find joy in being wrong, leverage the benefits of impostor syndrome, and cultivate environments of lifelong learning. Grant emphasizes the need to challenge our convictions, adopt a scientific mindset, and foster curiosity and humility. He provides examples of individuals who have successfully rethought their approaches, from firefighters to business leaders, and offers practical exercises for improving rethinking skills.