Downsizing is difficult…
We care more about how much we have compared to others than we do about how much we have in absolute terms
The most fascinating book I have read on behavioral psychology
I’ve always been a seeker of the perfect plan. I need to do my best to realize that for many things in my life, good may be good enough. The worst thing I can do is postpone making an important decision.
How cognitive dissonance, Greek yogurt, tracking your net worth, and more all come together in one post.
Things that gain from disorder
Having a foundation in personal finance will help maintain your wealth if you do strike it big and also provide a back-up plan to building wealth in case of bad luck or other misfortunes.
Timeless marketing and investing lessons…
We often exaggerate the part that skill played and underestimate the role that luck played in the outcome.
I’ve only been involved with bull markets. So far, I’m a bear market virgin.
Buying one thing can lead to a chain of additional purchases as a result of the initial purchase.
A large number people increasing their savings rate is a risk to the economy.
“In our culture, making more money feels like winning, and winning feels like the point.”
In life, we look up to experts in all disciplines. But what if certain experts do not always have the best interests of their clients as their number one goal?
When technology and the media become destructive.
Billions sounds so much more appealing than millions.
The majority of our wealth will come from compounding once a significant nest egg is built up.
Your savings rate is more important than your investment returns when you are first starting out.
Why would most of us drive 20 minutes out of our way to save $5 on a $15 calculator, but not drive the same distance to save $5 on a $125 jacket? $5 is $5, right?
When travelling with luggage, we often pack way more than we should with stuff that we thought we would need but don’t end up using. This extra stuff takes up space and adds extra weight that is a burden to carry for the trip (especially if your luggage is a backpack that you actually have to carry with you, and is not on wheels). Similarly, in our everyday lives we often buy things that we rarely use, but do take up space and often create a future burden (i.e. debt) that we have to carry around with us.
More is better. At least that society tells us. Expensive vacations, upscale restaurants, weddings, country club memberships, expensive homes, home renovations, second homes, designer clothes, motorcycles, watches, boats, luxury cars, second cars, designer clothes, the new iPhone, the new Macbook, the new Apple TV…The list could go on and on with endless wants.
On May 31st, 2015 at 3 PM, I jumped out of an airplane.
What do a Mexican fisherman and a little Italian restaurant in Thailand have in common? No this is not a cheesy joke. Let’s explore…
“The temptation to take the easy road is always there. But discipline is paramount to ultimate success.”
Warren Buffett is often regarded as the most successful investor of all time. He had an annual rate of return of 20% per year between 1965 and 2012 and is currently the third richest person in the world. But despite Buffett’s publicity, there are investors who actually have had a better track record.