This Book Changed How I Think About Financial Freedom

Were the key to financial freedom isn't what you think. We're told to earn more. Hustle harder. Invest early. But most people don't fail with money because they made the wrong choices. They fail because they never learn how to think about it. In this book, psychology money, it change. how you think about money, wealth and success forever. I want to show the five mindset shifts and timeless lessons. that can change yours too. I also created a free psychology money guide and workbook that you can download. It's filled with takeaways from this video.

Get it for free in the description below. The first shift. is why we think about money the way we do and understanding our mindset. So I used to feel shame for not investing earlier. I would scroll through posts about stocks and crypto gains. and think why didn't I start sooner? Why was I so late to all of this? And let me know if you ever felt like this. But then I read something in the psychology money. that made me realize this no one is crazy. We all make decisions about money based on our own life and experiences.

That one sentence, it gave me so much compassion for myself. and for others, especially the way that I used to judge my parents for the way they lived. My parents were first generation immigrants in the early 90s in America, and for them to have lived through a very tough times back home. and then living with the uncertainty. of providing for your family in a new country for them. Job security was everything. My dad valued a steady paycheck. My mom always save for the rainy day.

We rarely had a vacation when I was growing up, and to them, money. wasn't a tool for risk or opportunity. It was safety. It was for stability. A roof over your head and food on the table. So of course, when I started my first job, I wasn't thinking about wealth. I was thinking about how to play safe, to take less risk. That mindset wasn't a mistake. It was inherited from generations. I was just shaped by a different story. And this is true for so many of us.

If you were born in 1950s, you saw inflation completely. ravage your parents savings. He probably grew up being so skeptical of the stock market. And if you were born in the 1990s, you grew up in a world of low inflation, so you didn't feel much of his effects. And really, what I learned from working in the book. is that your financial mindset is a mirror of your past. If you ever asked, why didn't I learn this sooner? Just know this you were doing the best you could. with a worldview that you had another.

You see it. You can choose a different one. Because taking control of your financial life or life as a whole. is yours to rewrite your story going forward. I took charge of my money and mindset in my late 20s, when I decided to actively invest my savings. instead of playing a safe in a way that felt right to me. And I'm grateful that I decided to rewrite the way I think about money. and never look back. The next shift is in my habits and understanding. what wealth actually look like. There are so many lessons and stories in this book.

that not only applies to money, but also life. And one of the biggest takeaways. is the way that your habits can shape your life and wealth. Let's talk about Warren Buffett. Everyone knows he's one of the richest men in life. But what most people miss is that 99% of Buffett's. wealth came after his 50th birthday. It wasn't just his investment strategy. It was his patience. He started young. Stay in the game. and let compound interest do his quiet, magical work over the years.

Because Buffett started investing at ten by 30. His net worth was about $1 million, and today he's worth over $100 billion. But here's the thing. If he started at age 32 of ten. or retired at 60 instead of continue into his 90s, his net worth would be closer to 11 million, not 100 billion. That's a 99.9% difference. Not because of higher returns, but because of time.

And here's a metaphor that I love. Building wealth is like growing a bamboo. For years, it looks like nothing's happening. Then suddenly issues 90ft in six weeks. But it only grows like that because of all the unseen work underneath the ground. That made me rethink my own habits. I used to chase quick hacks for money. Like learning about investing in this thing now so fast. But I was missing the most powerful habit, which is consistency and time.

So since then, I just automated my investments. a set amount into my account each month and check it every six months. I track my spending not to restrict myself, but to stay conscious of not overspending. And I save by stop buying things that no longer use in my life. And I spend on experiences that I will always remember. And everyone's different because only you know what truly matters to you. and how you want to spend or save your money.

But the habit of consistency and patience with money. is what will help you win the long term. Because, as Morgan Housel puts it, saving is the gap between your ego and your income. And for me, learning to walk less, that's been one of the most liberating shifts in my life. And the third lesson. is on this idea of enough how the richest people still go broke. This brings me to the point in the book that I really want to dive deeper. with you. Morgan Housel shares the story in the book. So two wealthy men were the party.

One says, I make more in a day than this guy makes in a year. The other replies, yes, but I have something he'll never have enough. And that one word stopped me. And this idea of enough really hit me hard. In my early career and my first job as a high paying corporate role. Before I switch over to tech, I thought the goal was obvious. Climb as high as you can in the corporate ranking and as fast as you can.

On paper, the job was everything I thought it wanted. It came with a pay rise. A fancier title. And traveling for work. From the outside, it looked like I made it. But inside I was constantly tense. I worked over 80 hours per week, and I wake up checking my phone with anxiety and go to sleep checking emails. And the more I earned, the more I felt trapped by this thing. that felt like I had to keep saying yes to stay successful. And that's when I realized. the most dangerous game in life is the one with no finish line.

It was like filling a bucket with a hole in the bottom, no matter how much you pour, and it never feels full. That's what happens when you don't define enough. You end up stuck in the game where you're always behind, even when you're ahead. And in life, I realized that there will always be someone else. who looks happier, richer, more successful. And for me, learning this was a wake up call. I started asking myself, what am I actually trying to buy with? Money is a freedom.

Is it time, security? And if the answer is yes, then currency chasing more. is costing me the very thing I wanted money for in the first place. Enough is not a number. It's a decision you make for yourself. It's the point where your money is aligned with your values, not your ego. So ask yourself honestly, what does enough look like for me? And are you brave enough to stop when you reach it? The next lessons on risk. This invisible force that shapes everything.

So we all love to talk about success, but we rarely talk about luck. Or is twin risk. And there's a story in the book that I'll never forget. In 1968, Bill gates was one of the roughly 300 million high schoolers. around the world, but he happened to attend Lakeside School in Seattle, the only high school in the country with access to a computer at the time. That's literally 1 in 1,000,000 headstart, and Bill gates knew it. He once said if there had been no Lakeside, there would have been no Microsoft.

But here's the part where most people don't know. gates are the childhood best friend named Kent Evans, and they were inseparable, the kind of friends who stay late after school, writing code. together, geeking out over what computers could become. They even dream of starting a tech company together one day. Kent was just as smart, just as driven as Bill gates, but he never got the chance. Before they even graduated high school, Kent died in the mountaineering accident, and that is 1 in 1,000,000 risk.

As Morgan Housel said in the book, Luck and risk are siblings. Both are invisible. Unpredictable and powerful. This reminded me of a moment in my own journey. So years ago, I had the chance to work on a dream project. It promised visibility. and great earning potential, but something in my gut said no. The timing felt wrong. Six months later, the company folded and people I knew who are still chasing. unpaid invoices. Years later, that experience taught me.

the most important financial skill isn't intelligence. It's self-awareness. Knowing when to say yes, when to walk away and accepting. Sometimes things would just not be fair. And that's okay because you can't control everything. But you can learn to take ownership of what you are given. and what you can control. And this last lesson is on freedom, which is the real goal of money. This really brings me to the idea of real freedom.

Most people say they want to be rich, but. if you dig deeper, what they really want is freedom. And Morgan says in the book, the highest form of wealth. is ability to wake up and say, I can do whatever I want today. And that is the real dividend money pays in life. Because the truth is, everyone's version of freedom looks different. For some, it might be a bigger house or more comfortable life. For others, it's experiences, travel or time with family. There is no right or wrong and only you will know what freedom really means.

to you. And so many of us, we trade that freedom away for a version of success. that looks good to others but feels empty to yourself in real life. I don't know myself. I once found myself in the season where I was saying yes to everything. My calendar was full, but my energy and life felt hollow. I was making more, but enjoying my life so much less. And that's when it hit me. Money is not the goal. Time is. Freedom is pieces. The richest people I know aren't the ones with the biggest incomes.

They're the ones who are fully present in their own lives. They spend time with people they love. They work on their own terms. And they live with intention, not obligation. And here's the best part. You don't have to be a billionaire to have that. You just have to define. when enough means to you and have the courage to protect it. Because in the end, wealth isn't about how much you have. It's about how much you can walk away from. How much of your life is truly yours. And these are my favorite lessons in the book.

that change how I see money and wealth forever. I'm really grateful that I get to share these with you. And let me know in the comments! What's one lesson in this video that you wish you learned sooner? I'd love to hear your story. If you found this video helpful, you might enjoy this video here. I'm Lori. Thank you so much for being here, and I'll see you in the next video.