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Episode 260: Prof. James Choi: Practical Finance

The Rational Reminder Podcast

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The Differences Between Personal Finance Advice and Economic Theory

Households do behave in some ways a lot like that. There are a lot of people that just don't save it all in their 20s and in the 30s. And then you do see a great increase in savings on average in your 40s and 50s. But one area where economic theory has a hard time matching what happens with real-life people is that there are many who have no emergency savings buffer.

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