Schwager takes aim at the most perniciously pervasive academic precepts, money management canards, market myths, and investor errors. Like so many ducks in a shooting gallery, Schwager picks them off, one at a time, revealing the truth about many of…
Happy Money – The Science of Smarter Spending by Elizabeth Dunn & Michael Norton If you think money can’t buy happiness, you’re not spending it right. Two rising stars in behavioral science explain how money can buy happiness if you…
From the day you’re born until the day you die, money will always play a huge role in determining how good your quality of life was, is, or will be. That’s a pretty profound realization, isn’t it? I’m not going…
Do you have lots of time to read lengthy articles, including some of my blogs? Nowadays, fewer and fewer of us own that luxury. Thus, I will share very brief tips and snippets of useful life hacks that can serve…
I am a huge fan of the exponential function. It is simply magic. This ninth world wonder—as Albert Einstein (or some other clever person) called it—can make everyone a millionaire with merely saving 1$ a day. That’s a bold statement that…
This is clinging to a fact or figure that should have no bearing on your decision. Often, we use an initial value or first piece of informationa as a “starting point” in decision making. Even if the initial value was…
Or why we adhere so strongly to our beliefs. One culprit is what the rule of consistency describes: a powerful force that compels us to act in a way that is consistent with our past behavior (this rule is extensively…
Endowment Effect is the tendency to fall in love with what we own and makes us resist change. Or in other words, this is the tendency to consider something you own to be worth more than it would be, if you didn’t…
This is the tendency to avoid taking an action due to the fear that—in hindsight—it will turn out to have been less than optimal. Like leaving money in a bank account, rather than putting the cash in an investment with…
Believing that something is true only because other people think it is. Whether politicians or stocks, people like being associated with things that are winning, so winners build momentum, not because they deserve it, but because they’re winning. This is…