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Doing no harm is more important than doing good from "summary" of The Psychology of Money by Morgan Housel
One of the most powerful principles in life is the idea that doing no harm is more important than doing good. This concept may seem counterintuitive at first, as we are often taught to prioritize actions that create positive outcomes. However, the reality is that avoiding mistakes and preventing harm can have a greater impact on our overall well-being. When it comes to managing money, the importance of this principle becomes even more apparent. Making sound financial decisions is not just about seeking high returns or making impressive gains. It is equally, if not more, important to avoid costly mistakes and risks that can set us back significantly. In the world of investing, for example, the focus should not be solely on finding the next big opportunity or trying to beat the market. Instead, the emphasis should be on protecting our capital and avoiding unnecessary risks that could jeopardize our financial security. By prioritizing the preservation of wealth over the pursuit of excessive gains, we can build a more resilient and sustainable financial future. Similarly, in our personal lives, the principle of doing no harm can guide us in making decisions that prioritize long-term well-being over short-term gratification. Whether it's avoiding unhealthy habits, toxic relationships, or risky behaviors, the key is to focus on protecting ourselves from harm before seeking out opportunities for growth and success.- The concept of doing no harm is a reminder that progress is not just about moving forward, but also about avoiding setbacks and pitfalls along the way. By prioritizing the prevention of harm and the mitigation of risks, we can create a solid foundation for future growth and prosperity.
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