The Power of Staying Put

Psychology of Money by Morgan Housel is an excellent read on behavioral economics. I recently found out that Morgan has started a podcast, which I have also found an enjoyable and an enlightening listen.

On one of the episodes is on the power of staying put - in which Morgan argues that one should value the compounding effect of staying in one company (or job).

I certainly can appreciate his thoughts on this and it has made me think about my approach on my career. I reflected on the companies that I have worked for and for each I asked the following question: have I moved on too quickly from this and not allowing the compounding to work its magic?

Fortunately, I am at peace with my decisions. I have made them with the best information that I have at that time and every moves has contributed to growth in compensation and new skills and opportunities acquired.

However for my future decisions - I would definitely put more thoughts on the power of staying put.