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Security, Lifestyle, and Aspirations: Putting the Individual into the Risk Equation

Seeking Risk: The Fab Rick Show

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Evolution of Financial Planning and Portfolio Management

The speakers discuss the evolution of financial planning and portfolio management, highlighting the shift from straight line projections to considering the distribution of returns. They emphasize the importance of protecting against bad events and participating in good events, proposing a three-part portfolio strategy. The chapter also addresses the importance of security, lifestyle maintenance, and achieving aspirational goals, emphasizing the need for understanding changing conditions and adjusting behavior accordingly.

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