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Episode 260: Prof. James Choi: Practical Finance

The Rational Reminder Podcast

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The Importance of Living Paycheck to Paycheck

A lot of people who are living paycheck to paycheck, even though they have significant assets that are in illiquid form. They're earning such high returns on their illiquid assets that it's worth it for them to be paycheck to paycheck outside of those illiquid assets. One view is that that's actually an optimal choice for them. Another point of view is these people are just out of control and they have self done away some money in their house. That's a good thing because it's forcing them to accumulate some assets, but they're allowed to just out of Control.

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