How To Get 1% Better At Investing EVERY Day | Investing With Atomic Habits | Summary and Q&A

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August 16, 2022
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MyWallSt
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How To Get 1% Better At Investing EVERY Day | Investing With Atomic Habits

TL;DR

Learn how to apply James Clear's four laws of behavior change from his book Atomic Habits to investment strategies for improved results.

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Key Insights

  • 📔 James Clear's book Atomic Habits has been widely successful and can be applied to various areas, including investing.
  • 👮 The four laws of behavior change (making habits obvious, attractive, easy, and satisfying) can significantly enhance investment strategies.

Transcript

james clear's 2018 book atomic habits was a new york times best seller and sold over five million copies worldwide it claims to help you change your habits and get one percent better every day we're always looking for ways to compound our results here by wall street so we decided to apply these atomic habits and clears four laws of behavior change ... Read More

Questions & Answers

Q: How can making habits obvious lead to successful investing?

Making habits clear and specific, such as setting aside a specific amount from each paycheck, eliminates uncertainties and creates a straightforward action plan for saving and investing.

Q: What is the importance of making a habit attractive in investing?

Many people find change and new habits intimidating, but by finding attractive versions of investing habits, such as listening to educational podcasts instead of reading financial news, individuals can feel more motivated and engaged in the process.

Q: How can making habits easy contribute to successful investing?

Making habits easy to follow by automating savings transfers, setting up notifications for new investment resources, and utilizing apps to save articles for later reading reduces friction and makes it more likely for individuals to consistently engage in beneficial investment activities.

Q: How can making habits satisfying help in the context of investing?

Financial matters often have delayed gratification, but by creating immediate rewards, individuals can hack their instincts and motivate themselves to continue their investment habits. It is crucial to ensure these rewards align with long-term goals.

Summary & Key Takeaways

  • James Clear's book, Atomic Habits, is a best seller and offers a method for changing habits and improving by one percent each day.

  • Applying Clear's four laws of behavior change to investing can lead to significant improvement.

  • The four rules include making habits obvious, attractive, easy, and satisfying.

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