Finance Friday, July 13th, 2018
Money doesn’t cause happiness, and happiness doesn’t cause money. But they are intricately related! Read on for some of the best articles I encountered this week.
Ms. Ziyou gets two things right that so many people confuse. The first is a proper understanding of correlation and causation. The second is a more nuanced take on money and happiness.
“I believe it is not the money in itself and the abundance of wealth that makes me happy. However, I believe the security of having enough money is critical in achieving super high levels of happiness in a capitalist society.” -Ms Ziyou
I couldn’t agree more.
I’ve been thinking a lot lately about radically changing my work and daily life schedule. So I’ve been reading more about experiences others have had. This article from Finance After 50 highlights some of the practical benefits and newly important concerns from such a shift. I enjoyed reading it, and expect you’ll find something of a benefit if you’re thinking of taking a sabbatical from the regular work life.
“Make a Plan for Your Money” is the slogan for this website, so I appreciate a good case study as much as anyone. Tina at Money Flamingo is an Australian FIRE blogger who did such a nice job on this case study that I wanted to highlight it. Her post has a nice zoom out overview, zoom in to the details, zoom back out for perspective. It’s not all pretty graphs either (though they are pretty), the data and advice are legitimately useful.
The best advice you can get is usually from someone who has just gone through the same situation. Dr. Daniel Smith, a recent graduate in family medicine, wrote this guest post for the White Coat Investor that provides sage advice for residents and non-medical professionals alike. He’s learned to eschew financial advisors and expensive vehicles. He learned that investing is not that hard, and that it’s better to start late than never. He’s also smart enough to put “marrying the right person” at #1 on the list, something we have in common!
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