2min snip

The School of Greatness cover image

Do THIS To Get Rich and STAY Rich (It’s Deceptively SIMPLE!) | Morgan Housel

The School of Greatness

NOTE

The Danger of FOMO in Money and the Pursuit of Status

FOMO, the fear of missing out, is a dangerous trait in managing money, whether in saving or investing, as it can lead to envy and irrational decision-making. Watching others get rich fast can be misleading as it's often not sustainable, and people tend to showcase their best but not necessarily indicative of their true financial status. The American culture of 'faking it till you make it' can lead to people overspending to impress others, driven by a natural desire for status rather than genuine happiness.

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