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How Good is Popular Personal Financial Advice?
Patrick Boyle On Finance
The Importance of Human Capital in Asset Allocation
Economic models recommend equity allocations that are hump-shaped with age. Older individuals have a lower equity allocation, because more of their money will be needed in the near-term to fund retirement consumption. Economists care more about how much extra you're being paid to take additional risk rather than just the level of interest rates at a given point in time.
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