New Day - New Wisdom

[MarkP]

"You must not fool yourself, and you are the easiest person to fool."

Richard Feynman

 

[Uncle-A]

I am stuck between "I need to save money" and "You only live once"

 

[Tricia]

I am stuck between "I need to save money" and "You only live once"

That's brilliant

 

[Tricia]

This one was dropped into my inbox a few weeks ago and for some reason it has been resonating with me.

 

[nay]

I am stuck between "I need to save money" and "You only live once"

There is an economic theory that says that telling young people to start saving right away is bad advice.

The idea is that you should spend to maximize your life in each stage. In your 20’s when income is low you spend everything, 30’s you spend everything perhaps to start a family and grow, 40’s you begin savings as income finally grows above core expenses, 50’s/60’s are maximum asset accumulation as other expenses decline.

This is how most people end up doing things because it aligns to their emotional habits, but I completely agree that it’s the best way to look at life finances. “Compound interest” is not some unified theory of the universe.

 

[DanoT]

I am stuck between "I need to save money" and "You only live once"

^^^This reads more like an unresolved dilemma. Where is the New Wisedom part?

 

[Uncle-A]

^^^This reads more like an unresolved dilemma. Where is the New Wisedom part?

The Wisdom is it makes you think about the balance one needs in life.

 

[Don in Morrison]

I need to be retired to have time to do a lot of the things I need to do but I need to keep working in order to afford to do it.

 

[Uncle-A]

Classy is when you have a lot to say but you choose to remain silent in front of fools.

 

[Uncle-A]

Everyone thinks they have the best dop,
And none of them are wrong.
W. R. Purche

 

[Doug Briggs]

WTF is a dop???

Doh: dog

 

[ilovepugs]

I am stuck between "I need to save money" and "You only live once"

The most important investment you can make is in your mental and physical health. So if some of that investment is in fun adventures, well….

 

[RobSN]

@Uncle-A That's because in quantum mechanics, things can be in multiple states at the same time, so, for example, a qubit in quantum computing is both off and on at the same time (called a superposition of states) whereas in classical computing a bit is either on or off. This leads me to the realization that dogs are partly quantum mechanical creatures, and the RobSN laws of hounds:
Law 1: All dogs have fangs at one end and a waggler at the other (<- I stole this from a children's book, but I liked it).
Law 2: All dogs are in a quantum mechanical superposition of states of <best dog and not best dog>. The superposition never collapses other than to best dog.
Law 3: Dogs are often a classical state and in the off position but can transition at lightning speed to on with use of words like "walk", "bone", "toy", and "play"

 

[Uncle-A]

WTF is a dop???

Doh: dog

So I have a difficult time when I type.
He who has no sin may cast the first stone.
It would be nice if someone could fix it because it is past the time when I can edit it.

 

[Uncle-A]

The most important investment you can make is in your mental and physical health. So if some of that investment is in fun adventures, well….

Isn't it why we ski?

 

[Doug Briggs]

So I have a difficult time when I type.
He who has no sin may cast the first stone.
It would be nice if someone could fix it because it is past the time when I can edit it.

Sorry, forgot the emoticon. I wasn't meaning to be critical, but rather helpful and perhaps a touch humorous.

Here is the missing icon:

I googled the expression to see what you meant.

BTW, there is no time limit on editing that I'm aware of.

 

[Andy Mink]

BTW, there is no time limit on editing that I'm aware of.

I believe it is two hours.

 

[Uncle-A]

I believe it is two hours.

Thanks.

 

[ilovepugs]

Isn't it why we ski?

This discussion is more timely than I realized it would be. I’m crying on the inside because I just realized I can’t spend money on a ski trip to Mammoth since I committed to investing in something (I promise it’s reputable) and the first tranche of capital is due soon. Doing one of those “save and invest money while you’re young” things…

Can’t really complain though, I spent almost three weeks out west in the 2022/2023 which is good for someone who’s not retired or independently wealthy!

 

[DanoT]

Everyone thinks they have the best dop,
And none of them are wrong.
W. R. Purche

WTF is a dop???

Doh: dog

I thought Uncle-A just left the "e" off of "dop". With my version the quote still works...just shows you literally where my head is at.