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Base Rate Fallacy
You love to smoke and when someone points out its harmful effects, you say that my grandpa used to smoke a pack a day and he still lived to be 98. You also don’t like…
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Mistakes Hit Harder With Age
When you are young, your ability to earn income represents the largest portion of your total wealth. Your ability to earn is your human capital. Your financial capital, on the other other hand, barely amounts…
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Health Life Expectancy
Money won’t be a problem for most of you. The problem will be that you’ll have all this money but you won’t have much time. I recently learned about health life expectancy. The World Health…
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Charley Ellis’s 10 Commandments for Individual Investors
Charles “Charley” Ellis is the author of several investment classics like Winning the Loser’s Game and Capital: The Story of Long-Term Investment Excellence. He wrote these 10 commandments for individual investors that are universally applicable…
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Ignore The Joneses
Before the advent of social media, if you lived in a small town, your comparison set was rather limited. The richest person you’d know would be a doctor down the street. Apart from a select…
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No Iron Laws
October 7, 2023 was the darkest day in Israel’s history when Hamas terrorists invaded the country and killed some 1200 innocent people while violently taking 250 others as hostages. Reflecting the shock and uncertainty caused…
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How To Buy Your Own Health Insurance
Individual health insurance was the hardest thing to buy in the past. You didn’t have a human resources department or a fancy benefits consultant watching out for you so it was really easy to accidently…
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You Don’t Understand Sheep
Charlie Munger once told a story about a rural school in Texas where a teacher asked a question, “If there are nine sheep in a pen and one jumps out, how many are left?” Everybody…
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The Lake Wobegon Effect
When asked to rate their driving skills, more than 75% of Americans believed they were in the top one third of the population. In international math competitions, American students routinely ranked themselves near the top…
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How To Make $100,000 In Retirement & Pay Zero Taxes
You retire at age 60 so you can now make penalty-free withdrawals from your retirement accounts. You file as married filing jointly and for the 2025 tax year, you are allowed to claim $31,500 as…