Hard work and an aggressive approach, both in career and investing, might help you build solid wealth in the short run, but conservative, sensible spending and frugality it what help you preserve it in the long run, keeping you wealthy, and sustaining your wealth for long. Managing risks and avoiding ruin are key to long-term success. As Housel notes, “Getting money requires taking risks, being optimistic, and putting yourself out there. But keeping money requires the opposite of taking risks.”
