The Psychology of Money: Timeless Lessons on Wealth, Greed, and Happiness


In finance, the soft skills (how you behave) is typically more powerful than the hard, technical skills. Finance is guided more by psychology than laws and this book will help you better understand this idea and how to counter some of the more deleterious effects that ignoring them might bring

The Rabbit Hole is written by Blas Moros. To support, sign up for the newsletter, become a patron, and/or join The Latticework. Original Design by Thilo Konzok.

Key Takeaways

  1. Luck and risk are inescapable – nothing is ever as good or as bad as it seems
  2. “Enough” is a powerful word and one of the most valuable financial skills is to keep the goal posts from moving.
  3. Compounding is a true superpower. A mentality of frugality, paranoia, survival is key. Don’t do anything that can wipe you out and understand that staying wealthy is a different skill than getting wealthy
  4. Honor the power of tails, 80/20
  5. Money’s greatest value is to give you control over how you spend your time
  6. Wealth is what is hidden
  7. Reasonable > Rational – having an approach which you’ll sustain and which allows you to sleep at night is better than what is mathematically optimal
  8. Think of volatility as fees rather than fines
  9. More than some dollar amount, seek independence, the ability to do what you want, when you want. Save more than you spend, keep your lifestyle spending in check, understand your priorities, and give yourself a nice margin of safety

What I got out of it

  1. An incredibly applicable, approachable, and useful book for those who want to better understand how to think about money, investing, saving, and what true wealth really means


There’s a site called It’s run by this guy, Blas Moros, who is really cool. And he reads more than anyone I’ve ever seen. He must read 2 books per week and then he makes a reasonably detailed summary of every book he’s ever read and they’re not quick summaries. Some of them are like 5-page PDFs and you can just go in there and he’s summarized hundreds and hundreds of books into a 5-page PDF with the key takeaways and he does a better job at it than any other book summary service that I’ve seen and it’s all free. It’s just his private blog that’s out there. I can get lost in his website for hours just finding these little nuggets in these obscure books I’ve never heard of and he has all the highlights right there.

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