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What do you remember about the U.S. economy during your teens and twenties? It’s not likely that you started tracking DJIA at this age, but maybe you remember headlines during these years related to inflation, economic turmoil, or unprecedented growth. Would you be surprised that, on average, how we think and feel about our own finances is largely influenced by what the economy was doing during those formative years? See two charts below from The Psychology of Money . If you

Ronald Read never went to college and worked as a gas station mechanic and janitor for a department store. He bought a modest house at 38 and lived there the rest of his life. His favorite hobby was chopping firewood. Richard Fuscone went to Harvard, had an MBA, was a very successful finance executive, and retired in his 40s. He owned multiple pieces of real estate, including an 18,000 square foot mansion. One of them died with $8,000,000 and the other declared bankruptcy, lo