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THE PSYCHOLOGY OF MONEY - Commented Book
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Avoiding Single Points of Failure
You can plan for every risk, except the things that are too crazy to cross your mind. Warren Buffett said he needed someone genetically programmed to recognize and avoid serious risks. Avoiding these kinds of unknown risks is almost by definition impossible. The biggest single point of failure with money is a sole reliance on a paycheck to fund short-term spending needs.
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