When I was younger, I was very much an optimizer. I had the time to analyze and study and deliberate on what was best.
As I’ve gotten older and my responsibility has increased, I’ve slowly morphed into a satisficer. That’s someone who is quick to make decisions and that may mean you don’t get the optimal result, but a “good enough” one.
This is why I invest in index funds, have just a few credit cards, and automate practically everything.
What’s a ‘Good Enough’ Financial Plan? [Morningstar] – “I was meeting a dear friend for coffee one morning a few months ago. She had suggested a spot equidistant to our two houses, telling me that she used an online tool to ensure that neither of us had to go further out of our way than necessary. When I got there, I quickly surveyed the coffee options and picked a cup of dark roast, my go-to. My friend, on the other hand, took a few minutes to make a choice. She peered closely at the menu and asked for a sample of the dark roast and then the light, tasting each thoughtfully. She proceeded to order a cup of the first one.”