doing well with money has a little to do with how smart you are and a lot to do with how you behave - Morgan Housel

You want to feel a gap between what you expected and what actually happened. And the expectation side of that equation is not only important, but it’s often more in your control than managing your circumstances.

Some people are born into families that encourage education; others are against it. Some are born into flourishing economies encouraging of entrepreneurship; others are born into war and destitution. I want you to be successful, and I want you to earn it. But realize that not all success is due to hard work, and not all poverty is due to laziness. Keep this in mind when judging people, including yourself.

In theory people should make investment decisions based on their goals and the characteristics of the investment options available to them at the time. But that’s not what people do.