Optionality
Steve discusses an iPad purchase and its accompanying sheet music adventures. Tyler finds a surprise bank account. An acquaintance buys a house for cheap.
Having cash available is doubly beneficial--it protects you from unexpected risks and it lets you take advantage of unexpected lucky opportunities.
Links:
Having cash available is doubly beneficial--it protects you from unexpected risks and it lets you take advantage of unexpected lucky opportunities.
- (00:00) - Esoteric spreadsheets
- (05:37) - What is optionality?
- (10:16) - Risk and luck
- (13:19) - Savings gap
- (15:33) - Steve buys an iPad for sheet music
- (19:52) - Tyler squirrels away money so he'll forget about it
- (21:31) - How do you define financial independence?
Links:
- The Psychology of Money, by Morgan Housel https://www.goodreads.com/book/show/41881472-the-psychology-of-money
- YNAB Rule 2: Embrace Your True Expenses https://www.ynab.com/the-four-rules/#rule-two
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Steve Nay:
Tyler Smith:
Creators and Guests
