Learn about preparing for life after full-time work through posts from Don's upcoming book.
A continuation of #14. If you think about playing cards or tossing a coin, you can learn a lot about fundamental investment principles, and how to think about different kinds of investments.
Have you ever been to a casino? Wouldn’t it be nice if the odds were in your favor, so that you’re more likely to win than to lose? How would you behave, if you were in that position? Aha, hold that thought, because it can teach a lot about investing, as this post shows.
Life is so busy, there never seems to be enough time or even a good time to think about this stuff. And then suddenly something happens and triggers a connection. Let’s examine teachable moments — and their scarier companions, wake-up calls.
Since you don’t know how long you’ll live, what is a sensible planning horizon for the length of your retirement?
Most people are scared to think about a phase of life that could represent a big change. It’s possible to confront and overcome that fear. Here’s how.
Sometimes we think that making a budget is a long, complicated process. But for the purpose of setting a financial target, it doesn’t have to be. It’s surprising how simple it can be, while still being useful.
I’ve come across lots of rules about how much money you’ll need for a happy, comfortable retirement. And all sorts of numbers, and all sorts of ways to calculate them. When I saw what colleagues of mine came up with, about what it really means to be rich, I loved the simplicity of their concept.
Mostly we don’t think about life after work until it gets really near. So I asked some people to think it about now, while they’re still working. Can you learn from the dreams and hopes and fears of others?
How to think about the taxes you pay, and why there are no universal principles that you can follow.
All that’s necessary is to understand a couple of very basic things: why people invest, and what sort of general goals they have for their investments.