How to Avoid Myopic Fixation on Finances

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The more time I spend accumulating wealth is the less time I have for these other things. The older you get, the more likely you're going to think of them in terms of I wish I would have as opposed to what do I need to do to avoid wishing I would have. And then you need to ask yourself, Well, what's it going to cost for me to do these things? That's really how much money you need to have.

In this episode we answer questions from Shplendid Spencer, Russel and MyContactInfo. We discuss the pros and cons of online calculators and how they are commonly inadequate and/or misused, why being conservative beyond realistic possibilities is probably not a good idea overall, and an article by Aswath Damodaran about Nvidia, the chip industry and the implications of AI for DIY investing. CORRECTION: I said the Heat Map calculator was at Portfolio Visualizer -- it's actually at Portfolio Charts at the link below.

And THEN we our go through our weekly portfolio reviews of the seven sample portfolios you can find at Portfolios | Risk Parity Radio.

Additional links:

Spencer's Tool Link: Rich, Broke or Dead? Post-Retirement FIRE Calculator: Visualizing Early Retirement Success and Longevity Risk - Engaging Data (engaging-data.com)

Similar Portfolio Visualizer Analysis Tool: Asset Liability Modeling (portfoliovisualizer.com)

Tyler on Security Analysis Podcast: Tyler (@PortfolioCharts): The Amazing Power of Uncorrelated Assets (securityanalysis.org)

Portfolio Charts Heat Map Tool: HEAT MAP – Portfolio Charts

Article on The Top Five Regrets of the Dying: The Top Five Regrets of the Dying - Wikipedia

List of Cognitive Biases: The Prospecting Lens - Prospecting Mimetic Fractals

Aswath Damodaran Article: Musings on Markets: AI's Winners, Losers and Wannabes: An NVIDIA Valuation, with the AI Boost! (aswathdamodaran.blogspot.com)