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Get Rich Slow: Start Now, Start Small to Achieve Real Wealth by Sarah Riegelhuth

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Chapter 12

Psychology of money

I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.

Warren Buffett

How we feel about money is shaped by our background and belief systems, our upbringing, role models and attitudes towards spending, saving and investing. In some cases, these attitudes and beliefs limit our financial outcomes without our even realising it.

In my experience as a financial adviser, I have come to believe that whether or not we will achieve financial freedom is 95 per cent determined by our behaviours, with only 5 per cent attributable to the technical strategies that someone like me can help put in place.

Sounds crazy? Sounds like a financial adviser is not ...

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