Most of us can think of times in our lives that we'd like to relive.When these moments occur in the first place—the original events that become memories—we don't always realize realize how significant they'll become in our internal story. That's only natural, because sometimes ordinary moments can take on much more meaning after the fact. Read More
I have long believed that thinking about regret is a powerful motivator for action. When you're feeling indecisive, trying to figure out if a particular step is a good one, consider how you'll feel if you don't take the step. Often this leads you to what seems like the right direction.
But while mental models can be helpful, most of them also have limits. Lately I've realized there's a flaw in the logic of focusing your attention on the avoidance of regrets. Simply put, regret is an unreliable emotion.
Think about that for a moment—what does it mean?
It means, in short, that regret is both difficult to anticipate and even harder to characterize in retrospect. If you feel certain about your choices in either direction—either looking back or looking forward—you may be basing your interpretations on selectively chosen information.Read More
Two weeks ago, I wrote about how money mistakes are temporary. My main argument was that unlike other kinds of mistakes, money mistakes rarely have permanent consequences.
I'll return to that in this post, but first let's consider a few things that have happened this month:
- We've all been hearing about NFTs, also known as "non-fungible tokens," also known as digital art that can be reproduced over and over but sells for a ton of money. The NBA has sold $230 million on these intangible "items." An artist sold one for $69 million the other day, and I'm sure that record will be broken soon.
- The price of a single Bitcoin, another modern invention, has risen to more than $60,000. Like NFTs, Bitcoin is also completely digital. There is no such thing as "a Bitcoin" you can carry in your pocket or store in your safe deposit box at the bank. Everyone who trades Bitcoin or other digital currencies simply accepts that it exists.
- The U.S. government has passed a law enacting a $1.9 trillion stimulus package. Put another way, the U.S. government has printed $1.9 trillion more dollars. This was on top of another $2 trillion they printed last March. And presumably there's more where that came from!
A common TV trope features someone who's down on their luck and forced to borrow from someone with questionable moral scruples: a loan shark, the Mafia, a representative from Wells Fargo.As fate would have it, they fall further and further behind, until they're in an even greater bind. Soon they're being pursued by the loan shark, who threatens to break their legs, or by Wells Fargo, which forces them to remain on hold for hours. The rest of the story unfolds as the protagonist desperately tries to resolve their dilemma. What will they do? How will they get the money? "Getting the money" makes for a good plot foundation, since money is something that everyone wants. And when you don't have it, it becomes all that you think about.
But what if you didn't have to "get the money"? What if you just decided to not care?Read More
I haven't been writing much about travel recently, for reasons that are probably obvious. Travel doesn't exist at the moment! At least not in the same way it used to.
But it will again, especially with all that we've learned in the past year and vaccination well underway. I'm convinced that when it does, there will be some amazing deals and opportunities.Read More