Howdy howdy, money nerds. It’s Thursday, and we have some more top money stories for you.
The regret minimization framework: How to make tough life decisions. [Four Pillar Freedom] — “So, while The Regret Minimization Framework can be a nice way to avoid future regret, it’s important to also be realistic. Money matters. You still have to pay rent and eat food. Be courageous and be willing to take the leap when the time is right, but make sure the time is actually right.” [Also note that earlier this week, Zach launched his own financial link-curation site called Collecting Wisdom. Go, Zach!]
“Am I an asshole for selling my daughter’s car after we discovered she was texting and driving?” [/r/amitheasshole on Reddit] — “The car is already sold, so there’s no going back. I think what we did was absolutely correct, that actions have consequences and we would be in the wrong to pull back from that…She had a car, it came with certain stipulations, she disobeyed us, and now she pays the price.” [Holy cats! I admire the guts of these parents. But maybe the problem was the phone, not the car? I’d have taken away my daughter’s phone first. Fortunately, my daughter is a dog and doesn’t drive or use cell phones.]
Five key lessons learned during 25 years of financial planning. [Kiplinger] — “Like most financial advisers, I’ve spent (and still spend) a good share of my time building on the technical knowledge I need to do my job. The financial industry is always changing, and it’s important to stay on top of new theories, trends and tools. But after 25 years of working with retirees and pre-retirees, I’ve learned that experience — and a lot of listening — can be every bit as valuable.”
To finish things up for today, here’s a group of high-school students in 1958 talking about their expectations for the future:
If only we could go back and tell these kids about how much fun they’re going to have in the Sixties!
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