Life is not a game
You hear the phrase "the game of life" all the time.
https://www.youtube.com/watch?v=L-o8Spa4isQ
There are books on Amazon instructing us on how to win at the "game of life". Hell, Milton Bradley's "The Game of Life" from 1860 — still sold today — was the first popular board game in the United States.
More money, less happiness: When money makes you miserable
Money, the conventional wisdom says, doesn't buy happiness. Modern psychology seems to back this up, with studies suggesting that beyond an income of $75,000, money doesn't make you any happier.
This conclusion is simultaneously obvious and counter-intuitive.
As an abstract principle, most us acknowledge that money doesn't buy happiness. But, at the same time, we all want more of something material -- a nicer house, nicer vacations, the ability to live in a certain neighborhood or eat at fancier restaurants -- that we think would make us happier. (If you're J.D., you think maybe season tickets to your favorite team might make you happier.)
What we talk about when we talk about risk
Everybody’s financial situation -- age, income, saving rate -- is different.
But every retiree, early or late, aspiring or actual, has the same, simple investing imperative: We must preserve and grow our purchasing power in real terms in order to finance decades of future consumption.
This sounds simple (which it is) and obvious (which it isn’t).
