“does this help me sleep at night?” is the best universal guidepost for all financial decisions.”

一些很实用的建议，从心里的角度出发，如果一个投资让你每天晚上都睡不好觉，那应该非常谨慎地重新思考这个决定。

“Become OK with a lot of things going wrong. You can be wrong half the time and still make a fortune, because a small minority of things account for the majority of outcomes.” “It is fine to have a large chunk of poor investments and a few outstanding ones. That’s usually the best-case scenario.”

其实人生大部分的走势也就是几个决定的事。精力总是有限的，平均投入到所有细节中只会分散了核心问题所能获得的关注。

“Use money to gain control over your time, because not having control of your time is such a powerful and universal drag on happiness. The ability to do what you want, when you want, with who you want, for as long as you want to, pays the highest dividend that exists in finance.”

什么是自由。自由就是不被定义，不被当成工具在别人指定的时间、地点，做指定的事，而可以在我想要的时间、地点做我想做的事。

“Savings that aren’t earmarked for anything in particular is a hedge against life’s inevitable ability to surprise the hell out of you at the worst possible moment.”

这是中国人习以为常的事，但在西方社会需要被特意提出来说，毕竟大家习惯了举债生活。

“Define the cost of success and be ready to pay it. Because nothing worthwhile is free.”

愿意为成功付出代价，尤其是别天真地以为投资的成功没有代价。

“Room for error often looks like a conservative hedge, but if it keeps you in the game it can pay for itself many times over.”

给自己留余地。

“Define the game you’re playing, and make sure your actions are not being influenced by people playing a different game.

Respect the mess. Smart, informed, and reasonable people can disagree in finance, because people have vastly different goals and desires. There is no single right answer; just the answer that works for you.”

了解自己，别被和你玩不一样游戏的人所影响自己的决定。

“Sandy Gottesman, a billionaire investor who founded the consulting group First Manhattan, is said to ask one question when interviewing candidates for his investment team: “What do you own, and why?”

这确实是no bs，show me your money.

“I mostly just want to wake up every day knowing my family and I can do whatever we want to do on our own terms. Every financial decision we make revolves around that goal.”

财富自由不是为了赚更多的钱为目标，而是实现能够自由的选择过自己的生活。

“On the rare occasion when I question our savings rate I think of the independence my parents earned from years of high savings, and I quickly come back. Independence is our top goal. A secondary benefit of maintaining a lifestyle below what you can afford is avoiding the psychological treadmill of keeping up with the Joneses. Comfortably living below what you can afford, without much desire for more, removes a tremendous amount of social pressure that many people in the modern first world subject themselves to. Nassim Taleb explained: “True success is exiting some rat race to modulate one’s activities for peace of mind.” I like that.”

实现自由是首要目标，自己的收入水平大于自己满意的生活水平。避免社会压力与比较，rat race是永远不会有尽头的。

“Effectively all of our net worth is a house, a checking account, and some Vanguard index funds.” “My investing strategy doesn’t rely on picking the right sector, or timing the next recession. It relies on a high savings rate, patience, and optimism that the global economy will create value over the next several decades. I spend virtually all of my investing effort thinking about those three things—especially the first two, which I can control.”

做着自己的投资组合：20%左右的cash让自己睡个好觉，一个全款的房子，剩下的所有钱都在一些Vanguard指数基金里。非常简单。