Week In Review Articles
Knowledge acquired is potential.
Knowledge applied is profit.
— Jack Butcher (@jackbutcher) October 2, 2020
Morgan Housel: Common Causes Of Very Bad Decisions “Buddhism has a concept called beginner’s mind, which is an openness to trying new things and studying new ideas, unburdened by past assumptions, like a beginner would. Having a little past success is the enemy of beginner’s mind, because doing well reduces the incentive to explore other ideas, especially when those ideas conflict with your proven strategy.”
Jay Woods: What Exactly Did I Save For? “Maybe it’s too late for me and that could be a good thing. I’ve saved and prepared to send my kids off to college. I just never imagined the game could change so much and that I’d question is it all worth it?”
A Wealth Of Common Sense: Some Money & Investing Stuff I’ve Changed My Mind About “Saving money is important but I don’t believe you should save money on everything. How you spend your money can have a large impact on your well-being if you’re conscious about how and where it’s being spent.”
Preston McSwain: Talking Heads “…headlines like this from Wall Street talking heads don’t tend to help investors make constructive decisions. Often, they only create unneeded emotion and fuel irrational behavior that harms long-term returns.”
Simon Tryzna: Trust The Process “Sticking with the long-term vision is challenging, regardless of what that vision is. It is incredibly hard when it comes to investing and financial planning. There are constant deterrents in our ways. But having a process and sticking to it will help get us to where we want to go. It will help us build the environment – the lifestyle that we want. We have to have a process in place and put our trust in it.”
The Irrelevant Investor: Luck And Success “Luck is a loaded word. Saying somebody got lucky takes away from everything else they did to deserve what they have. Saying someone is fortunate doesn’t encroach as much on their efforts. For example, “they’re fortunate to be where they are” still allows that person to take some credit while “they’re lucky to be where they are” makes it sound like they just won the lottery. Words, in this case, really matter.”
Humble Dollar: Pay It Forward “I’ve come to realize that financial happiness lies not in a bigger house or a faster car, but in knowing all will be okay, even if we’re hit with rough financial times.”
Thomas Kopelman: Should I Refinance My Mortgage “To determine whether you should refinance is not as simple as comparing the previous monthly payment to what the new one monthly payment would be if you refinance. You need to understand all the costs associated with refinancing and whether or not it will lead to savings for you.”
Disclaimer: Nothing on this blog should be considered advice, or recommendations. If you have questions pertaining to your individual situation you should consult your financial advisor. For all of the disclaimers, please see my disclaimers page.