Become financially independent
A scorpion asks a frog to carry it across a river.
The frog hesitates, afraid of being stung, but the scorpion argues that if it did so, they would both drown.
Considering this, the frog agrees, but midway across the river the scorpion does indeed sting the frog, dooming them both.
While drowning, the frog cries, “But why?!”
Replies the scorpion, “It’s in my nature.”
Just like the scorpion, it’s in our nature to do what humans do. For...
Are you focused on the past, present, or future?
People focused on the past tend to see their life having a trajectory. If you remember the past as happy you predict your future will be happy.
Present-focused people seek excitement, variety, immediate gratification. They’re more likely to gamble, use drugs, and avoid anything tedious, repetitive, or difficult.
Future-focused people let their big goals decide today’s decisions and actions. They ambitiously work, save, plan. They have lots of...
Today’s question comes from Jay. He asks:
Thanks for the informative content you’ve generated. It’s some of the soundest, easily-digestible out there, and it’s definitely had an impact in my life.
I’ve been reading up on retirement for a couple of years now, roughly when I went into the workforce after college. I’m in my late 20’s, and currently, I make just shy of the $118,000/year IRA income contribution cap. I just recently started to fully...
Writing is mostly staring out the window. Spend enough time sitting there, staring at a blank page, and you get bored enough to start pecking away at the keyboard.
And the most gratifying aspect of stringing words together is the potential to change someone’s life. Think about that. You can probably rattle off some books that caused some profound change in the way you look at life.
That’s why my inbox is the lottery. I never know if an unread email is a winning...
Markets crash. On average, the market falls 10% once a year, about 20% every four or five years, about 30% every decade, and 50% a few times during your lifetime.
I used to think weathering market downturns should be easy. The market always recovers and reaches new highs. As Charlie Munger puts it:
“You can argue that if you’re not willing to react with equanimity to a market price decline of 50% two or three times a century, you’re not fit...
